Double Stop Loss, Hidden Stop Loss and Regular Stop Loss - MetaTrader 4 Expert | MT4 EA Download - MetaTrader 4 Resources

Typically, the first thing traders consider when opening a new position is money management. One of the ways traders often control risk and manage capital is by using a certain margin loss on their positions.

Many traders believe that when they set a stop loss (or even take profit) for a position and enter that price into the position modification window , the broker's server is obligated to close the position once the price reaches this limit. But in fact this is not entirely true.

This depends on the type of account you have with the broker. It is worth mentioning that in an ECN account, when you provide a stop loss or take profit price to the broker, the broker will close your position at the first available price as soon as the price reaches this limit. If you don't agree with this, take a closer look at your transaction history this time. You may find that some of your orders are closed at a different price than the price you set, and you suffer more losses than you expected, and even more profits. This is because of slippage .

Additionally, some traders believe that brokerages should not accurately indicate loss limits. This hidden stop loss is for such traders, and this robot is designed for this purpose. From now on you can have both hidden and regular stops together .

You can easily set a regular stop loss for your position as usual. It doesn't matter whether you trade with a robot or manually.

Just run this bot on a new separate chart (any) to manage your entire position. The input value determines the distance between implicit and regular stops. Note that the value is defined by points, not points.

Attachment download

📎 dual_stoploss.mq4 (3.92 KB)

Source: MQL5 #34493