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I am amazed with versatility of Loctrader EA.
I am user of Supraforex which is a web based straddle calculator. Input weekly data for pair, and it will give you target buy and sell prices, along with usual TP and SP and breakeven point.
Before I would type all the figures into MT4, but now with a new indicator from Land of Cash, using 1MA (so essentially the price at close) and inputting the price into the indicator I can then use the LocTrader parameters to do all the necessary trade managements like stoploss setting, breakeven and move to no loss, simple trail, and of course target in pips.
Saved as preset, I can use this again next time.
For your interest here is G/U calculation for Week starting 17 April (yes Tuesday since require closing price from Monday for accuracy)
Stoploss 1.59052 Move to breakeven at 1.59802
Stoploss 1.58872 Move to breakeven at 1.58122
As you can see so many numbers!! But with LoctraderEA I only need the buy and sell price, the others can be placed in parameters easily.
Please note Stoploss in above calculation is only 30pips which I find a little short, so I personally use 60 pips instead. Breakeven as you can see is 45 pips into profit. All easy to set in Loctrader.
Edited by user
| Reason: Not specified
Well last week was a win. 90 pips and only one trade made (buy).
This week many pairs are looking like they might trend better. I think A/U might be a good prospect with Supraforex this week, since RBA is issuing new interest rates soon, and will assist with volatility with this pair.
Buy at 1.03542 with 60 pip stoploss, 90 pip target and 45 pip breakeven stop with no loss.
Sell at 1.02762 same as above.
Here's an idea, for breakout trading without supraforex and I think much better.http://www.2shared.com/f.../Cnejbjfq/IdeaforGU.html
There is a book on system for G/J but I have adapted it for G/U. Inside the file is a locsignal that you need to change the prices using meta editor. And also another indicator that will offer you quick price numbers for the breakout range.
There is also a picture to show you how it looks before applying LOC Ea.
I guess the advantage of doing this way is
**have a magic number attached
**use the trailing setups
**set up automatic stoploss and target each day that is same along with breakeven.
trooper, is there any way I can add an ext int or ext double to the locsignal so that I can put the prices in easily? Right now I am using the meta-editor and putting the new numbers into the conditions.
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