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Trailing Stop Automation with...
Metatrader Trailing
With the sophistication of technology and the fast pace of
trading, traders always demand quick and precise execution of
their trades. Any delay in this execution could result in a loss
opportunity to enter the market at the right time. Hence, they try
to seek automation whenever they can. In retail investors' case,
the power of the expert advisor (EA) in Metatrader platform comes
in handy.
For retail investors who trade manually but do not want to
monitor their trade all the time to seek out the proper exit
timing, they can always opt to make use of Metatrader
Trailing stop to manage their trade. Often in my case I
do not see that Metatrader trailing stop function is good enough
for more flexibility in devising an exit strategy.
In fact, it doesn't work as well as I thought it to be. If you
are like me, thinking that there should be better trading
management tool, look no further than using Metatrader's own mql4
programming language to develop your own EA.
Developing your own Metatrader
trailing stop EA is the way to go
to automate your trade with proper exit strategies. The trailing
stops that you can create are customized to your own needs and
that it can be as simple or sophisticated you want it to be.
As managing trade is time and energy consuming, you will be
tied up to just 1-2 trades at a time and that the room for error
in executing the trailing method to manage your trade will be
higher. That is what every trader will not want to happen.
Automation of an ongoing trade minimizes human factors in the
execution process and thus removing delay along the way.
You have full control of what kind of management strategy you
want to employ for different market conditions and trading
strategies. In addition, you free up your time to further research
on other potential trades or just doing other stuff without the
worry of not having babysitting your trades.
Although, Metatrader Trailing
automation itself have many of its benefits in assisting you in
your trade management, you do need to have a strong foundation in
mql4 programming to create a good EA which requires lots of time
or you could spend thousands of dollars looking for a professional
programmer to do it for you. You have to remember that only a
properly created EA can help to execute your instructions
accurately.
"Introducing 11
Exit Strategies, What Every
Disciplined Traders Need... Go Without It You Could End Up Being A
PIP VICTIM
Just Like Thousands Of Traders Out There."
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Best Regards,
Warren Seah And Forex Trailer Team
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