Trailing stops on MT4 -advice welcome

Legslapper

Junior member
19 0
Hi, I am looking to use the MT4 platform but like anything new it's hard going at first.
I want to use the Chandelier stop loss linked to average true range. I have it displayed on my charts but how do I activate it so it will trigger if hit? Do I have to keep the platform on or the time to keep it active?

Any good libraries with MT4 programmes in?

I appreciate any advice.

John
 

pboyles

Legendary member
8,072 1,301
Hi, I am looking to use the MT4 platform but like anything new it's hard going at first.
I want to use the Chandelier stop loss linked to average true range. I have it displayed on my charts but how do I activate it so it will trigger if hit? Do I have to keep the platform on or the time to keep it active?

Any good libraries with MT4 programmes in?

I appreciate any advice.

John
You're wasting your time with MT4. By the way dont take this as a a recommendation for whatever crap these guys are selling

MT4 Virtual Dealer Plugin and Suspicius Broker Activity Detection - 4xSentinel - YouTube
 

iamnev

Active member
108 4
First thing to do is not ask any questions on Trade 2 Win. In fact don't ever come back here again ;)
People like fat boy ( ^ above ^ ) just try and put you off from doing something positive with your life.
However you should go to stevehopwoodforex.com • Index page for unbiased and very , very helpful advice.
Steve has developed a Multi Purpose Trade Manager that will sort your Money Management needs.
Google Steve Hopwood , Multi Purpose Trade Manager or MPTM for it's history from Forex Factory etc.
Good Luck
:clap:
 

pboyles

Legendary member
8,072 1,301
Of course he should instead listen to dreamers that think paying 4k makes you a professional prop trader.
 

Pat494

Legendary member
14,221 1,469
Hi, I am looking to use the MT4 platform but like anything new it's hard going at first.
I want to use the Chandelier stop loss linked to average true range. I have it displayed on my charts but how do I activate it so it will trigger if hit? Do I have to keep the platform on or the time to keep it active?

Any good libraries with MT4 programmes in?

I appreciate any advice.

John
Don't let the negative lot put you off.
Have a look in this thread for some good websites. Hope you will post anything MT4 related sometime ?

http://www.trade2win.com/boards/trading-systems/167076-mt4-corner-starters-others.html
 

the hare

Senior member
2,949 1,283
Hi, I am looking to use the MT4 platform but like anything new it's hard going at first.
I want to use the Chandelier stop loss linked to average true range. I have it displayed on my charts but how do I activate it so it will trigger if hit? Do I have to keep the platform on or the time to keep it active?

Any good libraries with MT4 programmes in?

I appreciate any advice.

John
If your just starting out MT4 is fine, but I wouldn't recommend trading with an MT4 broker. There are other free platforms available that might be more appropriate, but you'll need to do your research.

Usually you'd code the chandelier stop into an expert advisor, the trailing stop code supplied in metatraders MACD example could be easily modified to give an ATR based stop. That's where I'd probably start.

The other alternative is to check out a few trading forums. Youll probably find chandalier exits already coded if you look on Forex-tsd, forexfactory etc. if not, you can generally find a programmer stupid enough to code it if you imply its profitable !

You will have to keep the platform running all of the time (easier said than done, the platform isn't particularly reliable, and the brokers are usually running the setup on the cheapest infrastructure they can get away with)
 
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speedwayaus

Newbie
1 0
Hi, I am looking to use the MT4 platform but like anything new it's hard going at first.
I want to use the Chandelier stop loss linked to average true range. I have it displayed on my charts but how do I activate it so it will trigger if hit? Do I have to keep the platform on or the time to keep it active?

Any good libraries with MT4 programmes in?

I appreciate any advice.

John
MYFX® Forex Trading Platform - Cutting edge tools for Brokers and Traders Very good program but wont do want you want.. Yes, you will need to leave your PC running for any trade management type deals to work.
 

iamnev

Active member
108 4
Hi, I am looking to use the MT4 platform but like anything new it's hard going at first.
I want to use the Chandelier stop loss linked to average true range. I have it displayed on my charts but how do I activate it so it will trigger if hit? Do I have to keep the platform on or the time to keep it active?

Any good libraries with MT4 programmes in?

I appreciate any advice.

John
Also, when you have got to grips with MT4 and whatever EA or Indicators you need/want to use, I suggest getting a Virtual Private Server (VPS). The VPS should be monitored by an IT company who will alert you when their servers are being updated/go down etc. but for the most part your MT4 will be able to run all day long as long as your Brokers are supplying a feed. I use Alpari UK and they shut down Friday night and start up again Sunday but have had no issues with them or MT4 over the last year.
The guys over at Steve Hopwoods forum are really helpful so if you can't code your idea, they will do it for free generally. Also, I have been testing out coding ideas myself and found that for the most part Molanis is quite a reliable way to test your ideas before handing it over to a professional coder.
GLA
 

NVP

Legendary member
37,289 1,937
First thing to do is not ask any questions on Trade 2 Win. In fact don't ever come back here again ;)
People like fat boy ( ^ above ^ ) just try and put you off from doing something positive with your life.
However you should go to stevehopwoodforex.com • Index page for unbiased and very , very helpful advice.
Steve has developed a Multi Purpose Trade Manager that will sort your Money Management needs.
Google Steve Hopwood , Multi Purpose Trade Manager or MPTM for it's history from Forex Factory etc.
Good Luck
:clap:
Steve Hopgood knows his stuff.........but ultimately in the end always try to minimise costs spent on Trading Tools / Platforms / experts etc etc

as ultimately you will realise to be sucessful you really really need to do everything yourself ;)

N
 

iamnev

Active member
108 4
Steve Hopgood knows his stuff.........but ultimately in the end always try to minimise costs spent on Trading Tools / Platforms / experts etc etc

as ultimately you will realise to be sucessful you really really need to do everything yourself ;)

N
Totally agree NVP , I just thought that as PB had gone in all one sided and negative straight away I'd add a bit of balance and actually point him to a forum which shows trading for what it really is and where a forum actually offers up some constructive advice and criticism.
But we all come to realise eventually all the answers are right there in front of your nose as you look at the charts and whatever anyone else says doesn't matter a jot.
GLA
 

Legslapper

Junior member
19 0
Steve Hopgood knows his stuff.........but ultimately in the end always try to minimise costs spent on Trading Tools / Platforms / experts etc etc

as ultimately you will realise to be sucessful you really really need to do everything yourself ;)

N
Thanks for that - will follow it up. Regards- John
 
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