Thread: MQL4 Guide
View Single Post
  #14 (permalink)  
Old 06-23-2007, 09:04 AM
Terry French Terry French is offline
Member
 
Join Date: Apr 2006
Posts: 51
Terry French is on a distinguished road
exiting a trade

Lets say I am in a trade based on a stochastic setting. I want to exit based on another stochastic cross totally different from my entry. No problem yet. But lets say at my exit the market continues to go up. I want to change the exit based on 95% of the current stochastic signal line to the next level to keep me in the trade. So once I have my current stochastic setting at 95% and it gets hit, my new exit is 95% of the new setting and once this gets hit my new exit is 95% of that setting. This setup can keep you in a trade until the market peaks and turns down crossing the signal and the trade is exited on the cross. You know when it seems overbought or oversold. By changing the stochastic settings, as the price increases you are able to stay in the market till the trend breaks. Once trade is closed, you start next order with 1st level of settings. Currently I use a main signal on one setting crossing a signal signal on another setting. I only use 1 of the lines each stoch and black the other one out. I want to be able to move at least 4 levels up if the market continues to trend. Of course the opposite would be for a sell.
Reply With Quote