Quote:
Originally Posted by JoeShmoe  Lots of info on this Yahoo Group: http://finance.groups.yahoo.com/group/forex_assistant/
It's been posted before on the other RM thread.
Basically, when the price moves away from center of range you can reset the Magic Number to something different. This will effectively double your profit (with the currently open trades) with very little extra risk. To increase the profit even more you can change TP manually for each open "orphaned trade" - still connected to the old magic number - to...say.... 100 pips instead of 40.
Disclaimer: Don't do this until you know what the EA is doing and have tried it on a demo account first. |
I just want to point out - if you change the magic number, you are effectively telling the robot to "forget" about the open trades it has. The robot will no longer manage those trades for you because it uses the Magic Number to identify which orders it is allowed to work with. So if you want to set a manual TP and SL, sure, but that kind of defeats the purpose of using a robot, right?