Hello Chris,
Glad to hear from you.
Yes, some of the EAs do not have SL and TP, so when to exit a trade?
They have exit conditions. These normally are indicators which give an exit signal.
Also, all of the EAs in this course are with Reverse option. This means that when there is an opposite directional signal, it will reverse the trade.
So if you have a long trade opened with some of the strategy, and the same entry conditions(same as those that opened the trade) happen for sell signal, it will close the trade, and it will open a short trade.
And yes, the idea of algorithmic trading is to leave the EAs do their job. Anyway if you decide to touch them when there are opened trades, you will put some emotions in which is exactly what we want to avoid.
About the TP, I guess you are talking about the strategy ending on 007. Yes, this is realistic TP and if you run a back test you will see in the journal that there were times when the TP was reached:
Also, when I use such a huge TP, I combine it with Trailing Stop Limit to make sure if the price goes on profit and reverse, some profit will be taken.
In this case I used 70 pips. So if the price goes on profit of 170 and reverses, we will still have 100 pips.
So there are many options when to exit a trade and how. FSB pro gives many possibilities when creating the EAs.