Author: Desmond Wright, also known as Buju
Are you looking to streamline your trading strategy? Let’s chat about the SLTP Currency EA designed for MetaTrader 4. This little gem takes a unique approach by using your deposit currency as the basis for setting stop loss and take profit levels—no more fussing with pips!
Once your desired profit or loss threshold is reached, this EA will automatically close the entire trade for you. It’s straightforward and eliminates the guesswork.
Now, if you’re trading at 1 USD per pip, you’ll still be looking at values in pips, but the beauty of this system is how it calculates the risk and reward.
Here’s a quick example to illustrate:
- If you set your take profit to 10 (trading at 1 USD/pip), the trade will close at $10 or 10 pips, which is the same for the stop loss.
- If you set your take profit to 10 (trading at 0.5 USD/pip), the trade will close at $10 or 20 pips, and that goes for the stop loss as well.
- If you set your take profit to 10 (trading at 2 USD/pip), the trade will close at $10 or 5 pips, following the same logic for the stop loss.
With SLTP Currency, you're not just trading; you’re trading smart. It's about making your trading experience as efficient and profitable as possible. Happy trading!
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