How to move stop loss automatically for each TP

Home Forums General Questions about the Telegram.Forex Application How to move stop loss automatically for each TP

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  • #9086
    Luisangel Lorenzana
    Participant

    Greetings I operate with 3 TP example TP 1 TP 2 TP 3 I open 3 operations of the same currency as I can configure that the SL goes up automatically every time I touch the TP. Can someone send me a brief explanation or a photo of how I configure it.

    #9118
    Veronika Momir
    Moderator

    Hi Luisangel,

    In the EA’s inputs, there is a section “Break Even Settings”. There, you need to select “Set Break Even Rule” and choose “At previous TP”.

    Here’s how this option works: When TP1 is hit the SL is moved to the open price of the order. Next, when TP2 is hit the SL is moved to TP1 price, and so on.

    #11188
    Samuel Pieter
    Participant

    Does this only work with individual orders for each TP?
    How can I have the EA place one order with 3 TP levels and break even moves SL to previous when each TP is hit.

    #11221
    Veronika Momir
    Moderator

    Hello Samuel,

    Breakeven at previous TP works only when multiple orders open on the same signal. So only on signals with multiple TPs, and there has to be a new order for each TP level. For that, you need to set “Trading Rule for Multiple TPs” at “Individual Orders”.

    #11367
    Zal Zul
    Participant

    Hi,

    Is it possible to set BE, only when it hits TP2 and not TP1?

    #11380
    Veronika Momir
    Moderator

    Hi Zal,

    That’s not possible at the moment. There are two BE options. The first one is to move the SL to open price + offset pips when price reaches certain pips in profit. And the second one starts moving the SL to open price when TP1 is hit, then to TP2 when TP1 is hit.

    #11389
    Zal Zul
    Participant

    Hi,

    Can you explain more on “The first one is to move the SL to open price + offset pips when price reaches certain pips in profit” please?

    #11472
    Veronika Momir
    Moderator

    Sure. The first BE option that you can choose in the EA’s inputs is called “At open price”. If you select it, when a certain order reaches pips in profit equal to Pips Trigger From Open Price, the EA will move the stoploss at the order’s open price +/- Pips Offset From Open Price (pips are added in profit direction).

    For example, we have a EURUSD buy order at 1.1750, trigger pips are set at 20 and offset pips are set at 5. When the market price reaches 1.1770, SL will be moved to 1.1755. Offset pips are usually used to cover the spread loss.

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