Watch your Jumping Stop inputs. I have programmed Gday to close a third of the position every time a jumping stop event occurs, so having this too narrow will part-close your trade prematurely. Also make sure you lot size can be divided by 3; there is no idiot checking.
Steve,
Does this also mean the last 1/3 of the trade will close at 150 pips or will the last 3rd of the trade run until closed by a retrace to the jumping stop?
ie. Trade moves to +50 1st 3rd closes
Trade moves to +100 2nd 3rd closes
Trade moves to +150 last 3rd closes
As I didn't really provide a lot of detail in my pm, here's some more about the trade exit strategy I've been using...
My main focus has been account preservation, which is why the trade is taken divisible by 3 and using mptm to manage the trade utilising the break even, jumping stop & close partial trades functions
These are the settings I have been using in mptm
Use Breakeven: true
Breakeven Pips: 50
Breakeven Profit: 2
Jumping Stop: true
Jumping StopPips: 50
Part Close Enabled: true
Close Lots: 0.01 (or 1/3 of your opening trade size)
Preserve Lots: 0.01 (or 1/3 of your opening trade size)
The trade reaches 50 pips profit and first 3rd of trade closes, locking in 50 pips profit and moving stop to BE +2 - we're now in a safe trade and the market can do what she likes
by using these functions this allowed me to
1. get into a free trade asap (by locking in profits at 50 pips and moving stop to BE +2
2. if trade continues to run, we can then lock in another 100 pips by closing the 2nd third of the trade which then jumps the stop to +50 for the last 3rd of the trade
3. if market continues to go in our direction, this last 3rd is left to run and is closed either at reaching full TP of 500 pips or retraces back to the jumping stop
By having a staged exit, I am securing my trade first and foremost, but also getting as much out of the trade as possible (even though I do leave some pips on the table with the retrace, I'm still happy)
Hope this makes sense....
