GDPR-24_141216
21 Jan 2014, 18:35

RE:

daemon said:

It seems I have the wrong files because I cannot move the lines prior to submit. But anyway, I don't think I can code it. I can just calculate the lot based on risk and SL/TP input.

Ok, thanks for looking into it in anycase.

GDPR-24_141216
21 Jan 2014, 13:12

RE:

daemon said:

Maybe I'm missing something in the usage or perhaps I don't have the right files. I don't get how the lot size is calculated from the dragable lines. Only the SL and TP are modified if I drag the lines.

This short video should help.

http://screencast.com/t/9I0jlzzleF

1. Drag the EasyOrder script onto the chart.

2. Decide on order type, in this case a Buy Limit - EasyOrder then places 3 lines on the chart, a price line, a SL line and a TP line. 

3. You drag the lines to where you want and click submit - EasyOrder then places a Buy Limit at the lot size that is calculated based on the distance between the price line and the SL line and based on the stated risk %.

4. The same is shown for a market order, except this time you of course don't have the price line.

Long after this script was first made, MT4 introduced draggalbe SL and TP lines (once a trade is in play), hence this Easy Order version has been amended to remove it's own SL/TP object lines once the trade is placed (to avoid double lines from EasyOrder and MT4) - so the SL/TP lines you see once the order is placed are MT4 lines (much like cTrader has the same SL/TP lines).

So what I would like is the ability to place trades on the chart through a similar method, a small GUI to state the risk, choose order type and to submit the order request and draggable SL/TP/Price lines.

GDPR-24_141216
21 Jan 2014, 10:52

RE:

daemon said:

Do you want the lot calculation or the whole system because with cTrader you can modify the sl/tp by dragging the lines with out scripts. I think I can make a robot to place trades based on that and then you can use cTrader to drag the sl/tp lines or price for pending orders. Let me know if there is something I missed.

Quote from forexfactory:

I made this simple tool to give me the ability to specify sl/tp for new order by using mouse (dragging line object). Input sl/tp manually is a boring task, especially for lazy trader.
It also monitor existing trade sl/tp, which means it will modify existing sl/tp and open price (for pending order) when it detected a different value between order's sl/tp and the corresponding sl/tp line object.
Other feature : 
- lot size calculated automatically based on the specified risk.
- a simple popup menu that allows you to quickly close an order based on ticket number
Unlike most line object based trading tools, this program doesn't use EA for monitoring lines object every tick, or a script which uses continuous looping with certain delay. It detects mouse dragging activities (hence why it uses dll) and fire the necessary script. All script will return once its job (opening new order / modifying existing orders) finished.

The lot calculation based on SL/TP via draggable lines.

MT4 also introduced draggable SL/TP once a trade is in play after this script was created, so like cTrader no need to monitor, it's purely for opening a position i.e.  I'd need draggable lines on the chart to start with to specify the SL/TP through and then it's case of using the script to open a market order or limit order based on the stated %risk and SL/TP size.

I have a slightly modified version of the original as the original only worked with USD denominated accounts.

Many thanks for your help.

GDPR-24_141216
18 Jan 2014, 18:22

RE:

admin said:

All platforms always host limit and stop orders. This includes cTrader, ECNs, aggregators, etc. They are almost never hosted with individual Bank LPs. This is due to the fact that (1) you never know what Bank LP will quote the required price first and (2) the Banks do not provide such functionality. Limits and Stops are then sent to the LP when the price is triggered. Price advantage is still probable for Limits. Also, what makes cTrader different is that (1) it is located right next to the LPs, (2) that there is no need for unnatural hops (i.e. bridges) because we operate over FIX and (3) cTrader treats resting orders as Limits and Stops respectively, not as Market Orders like some other platforms do.

 

 

I would like some clarity on the above.

Are you saying that limit orders are not sent to the ECN as limit orders, they are held on the cTrader server and sent as market orders when triggered?

If this is the case then the market depth doesn't include other trades limit orders and orders can't be placed within the spread?

Also, if this is the case then a limit order isn't really a limit order as it's operated as a market order and thus doesn't adhere to the limit order rules of fill at 'stated price or better' ?

The statement that all platforms host limit orders and don't pass them through as limit orders (if this is what you were inferring) is incorrect, there are brokers that will pass through limit orders to the ECN as limit orders, including a few MT4 brokers like MBT, FxOpen and Exness.

GDPR-24_141216
18 Jan 2014, 17:51

RE:

Spotware said:

Yes, a cBot may be coded to create trades based on input such as risk and existing positions stop loss and then stop. 

Thanks, I would happy to pay someone to code a cBot that can replicate the functions available in the MT4 script detailed in the link below.

http://www.forexfactory.com/showthread.php?t=281772

Otherwise cTrader is a no go for me.