Simple open order script with simple money and trade management features - MetaTrader 4 Script - MT4/MT5 Resources
How do traders manage their trades?
A common approach is that when the price reaches Profit = Stop Loss size, you move the Stop Loss to the entry price and then let it move to the Take Profit.
If this ever happens to you, here's another way to manage your trade:
For example, you hold a position of 1 standard lot: SL=20pips, TP1=20pips and TP2=60pips
The advantage of this is that when you are stopped after hitting TP1, you will make a profit of 1:0.4 (R:R), and if you hit TP2, you will make a profit of 1:2.1 (R:R).
Default user input:
perc_to_lose: 1
perc_to_close_at_breakeven: 0.7
What the script does:
Attachment download
📎 buy.mq4 (3.05 KB)
📎 sell.mq4 (3.05 KB)
Source: MQL5 #32770
Simple opening order script with simple fund and trade management functions - MetaTrader 4 script - MT4/MT5 resource usage and screening suggestions
This content can be used as a data entry for foreign exchange EA, indicators, trading systems or quantitative strategies. When reading, it is recommended to make a judgment based on the platform version, trading type, time period, risk control method and historical discussion background. Do not use it directly based on the title or a single point of view.
If the content involves MT4/MT5, ForexFactory, MQL source code, TradingView indicators or strategy discussions, you can give priority to the parameter logic, backtest environment, market stage, execution cost and failure conditions, and then decide whether to continue downloading, reviewing or secondary development.
Risk warning
For any EA, indicator or automatic trading strategy, it is recommended to first conduct historical backtesting, simulation account verification and small capital testing. Grid, Martin, high frequency, recovery and examination strategies especially require setting the account risk upper limit, single variety risk upper limit and manual deactivation conditions.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •
