Add the ability to transfer positions to breakeven
Duplicates 1
Closing at breakeven after certain number orders
Replies 10
Let's say it will be the option "Move TP to the BE after martingale order #X is opened"
Of course, it is the same idea as https://communitypowerea.userecho.com/communities/1/topics/45-add-the-ability-to-transfer-positions-to-breakeven
If TakeProfit moved to BreakEven, the series will be closed on that level.
I'm merging these topics...
Do you mean - change this setting manually, when the last martingale deal is opened?
Of course, no.
But I was wrong, we must improve this option with "Start reduce after order #" to allow this strategy.
The variant is to close at breakeven the series, when the max trades of martingale is reached.
You can use Reduce TakeProfit option for such strategy.
By having an option to close the positions at breakeven after certain number of orders(let us say 3 orders), we can reduce the drawdown as it clearly indicates that we are trading against the trend. This makes the trading much safer. However this may at times reduce the overall profit.
Please implement. All the best and thanks for your efforts.
PS: Iam posting this as new idea as earlier ideas were talking about shifting the positions to breakeven but not about closing of the trades.