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Thread: Lower Minimum Take Profit and Stop Loss

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    Default Lower Minimum Take Profit and Stop Loss

    I am of the opinion that the minimum take profit and stop loss should be reduced to 5 and -5 respectively. This would allow scalpers to do their job well. I trade by the news but I usually scalp after the main hits of the day. Scalping is only good when take profit and stop loss levels are very low so that one could bite and take it (profits) bits by bits

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    Quote Originally Posted by pepperdonrest View Post
    I am of the opinion that the minimum take profit and stop loss should be reduced to 5 and -5 respectively. This would allow scalpers to do their job well. I trade by the news but I usually scalp after the main hits of the day. Scalping is only good when take profit and stop loss levels are very low so that one could bite and take it (profits) bits by bits
    There are several factors which do not allow us to decrease that limit. For example it is a problem to hedge positions with such a small targets on our segregated accounts. It is easy to increase s/l or t/p level to 1 pip even....but in this case it will mean that all the clients trades do not hedged by us
    Currently we are working on some projects which should make Client's trading in FXOpen more attractive...stay tuned

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    anyway the 10pips is OK by me, I just care about those that take it bit by bit. As for me, whenever i am scalping i stay with my system and do it right at my convenience. i would suggest that those that scalp always should always be in control of their systems or else..., trouble because it is better no to trade than to trade and lose.

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Quote Originally Posted by pepperdonrest View Post
    anyway the 10pips is OK by me, I just care about those that take it bit by bit. As for me, whenever i am scalping i stay with my system and do it right at my convenience. i would suggest that those that scalp always should always be in control of their systems or else..., trouble because it is better no to trade than to trade and lose.
    You can use a script which can work as S/L or T/P programme which will close your trades at any level you need.

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    Quote Originally Posted by FXOpen Manager View Post
    You can use a script which can work as S/L or T/P programme which will close your trades at any level you need.
    That should be very good if can tp & sl at prefined levels for any trade or all trades open.

    Fx manager or Anybody can inform me about such script and how to use it ?
    I need it as i do not want orders with sl or tp .

    fontu

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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by fontu View Post
    That should be very good if can tp & sl at prefined levels for any trade or all trades open.

    Fx manager or Anybody can inform me about such script and how to use it ?
    I need it as i do not want orders with sl or tp .

    fontu
    There are a lot of EAs out there that use "concealed" stop loss and target. The SL and TP are held internally by the EA and executed as market orders.
    I can't tell you of a specific one as there are many out there that do it.
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    Quote Originally Posted by FXOpen Manager View Post
    There are several factors which do not allow us to decrease that limit. For example it is a problem to hedge positions with such a small targets on our segregated accounts. It is easy to increase s/l or t/p level to 1 pip even....but in this case it will mean that all the clients trades do not hedged by us
    from what i quoted here, does it mean that fxopen is trading against traders?
    i am still new to forex here so, sorry if my question troubles anybody...
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    = Mari kita memeriahkannya! Sila Klik Sini :::

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    Hello there,
    Using a script or an EA to close positions at 5 pips + or - will not always be successful as if the markets are volatile the time by which the close order is processed by the server the price will have already changed.
    This usually happends during market news - good time for scalping.

    I think a server executed TP or SL is significantly superior to EAs that do that.

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