Prop firm robots close positions

[Richard Lawrie]

Good day

 

I just have a question with regards to the Prop robots.

 

Some of the TP & SL are very large. I just want to know if there is a feature in the settings within the robots to close positions early in case of losses & a feature to close positions in profits when there are certain parameters that may signal a reversal in the specific trade.

 

I hope this makes sense.

 

Thank you

[Sand0r]

Hi Richard,

The Parameters from the Bots are Back and fronttested and therefore make quiet Sense ;)

I know that sometimes If feels Like the trade would Not Work Out, but please remember that we are working with statistics here. with a Risk to reward Ratio of 1:2 you only need to win 40%.

So If you have a 10k Account and your bot ist Set to medium Risk, you max loose 1% (or 100$) when the trade does Not work in your favour. But you Always win 200$ when the Trades Work Out…

If you really want to Close Trades earlier you can do one of the following:

1. Set Stop loss in the settings to less pips (i would recommend to keep at least a Risk to reward ratio of 1:1.5)

2. Close Trades manually in Meta Trader If you habe the Feeling that they Go into the wrong direction.

Hope that helps!!

 

[Ilan Vardy]

Hey Richard,

The SL and TP are calculated when you select your risk (low, medium or high) before downloading the robot. Although the SL and TP may seem high, you’ll only be risking what you’ve chosen to – 0.5, 1 or 2% per trade. All of the EAs have exit rules too, so they may close even before the TP or SL is hit, if they get a signal from the market based on the indicators and rules therein.

Thanks,
Ilan

[eduardo caballero]

I have just started a 100k challenge on my 1st day the EA closed a trade for $1200, which means I am 1.2% up to get to my 8% goal. I have 10 prop EA operating actively and I am amazed that all of them are in floating profit approximately 3k however the EA are not closing the trades if I manually closed these trades, will if affect the performance of the EA to look for next trades?  or is it better to leave them until the EA hits it target, i am just concern that it may pull back and I loss it instead.

[Ilan Vardy]

Hey Eduardo,

 

You can close trades manually and it won’t affect the EA at all. As soon as market conditions trigger the rules of the strategy to open a trade, it will open another trade. You can absolutely close trades manually if that’s something you’re comfortable doing.

 

Cheers,
Ilan

[eduardo caballero]

 

 

[Riduwaan Felix]

Sometimes you must close out manually especially if you getting close to profit target and close to minimum days

 

This happens fast if you up the risk after getting some profit.

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