Forex EA Robot Trading Blog

Question
Should this EA use a trailing stop or not? In the properites the "Use Trailing Stop" input is default to "false". I thought this EA was supposed to ride the trend.

Answer
The trailing stop is set to FALSE, and there is no need to change anything. Take profit is only 10 pips, so that's why we do not need to use the trailing stop.

Riding the trend in means that the ea will open positions in the direction of the trend but with a fixed TP at 10 pips every time a trade opens. Thus, the trailing stop is not recommended.

Labels: 10pipspro EA, trailing stop

With the current GBPJPY market rhythm ranging over a 500 pip range, the version 5 carrygrid will do very nicely.

The key differences are

1. The comments to tell you exactly what the EA is thinking
2. The trailing stop will lock in profits for you, which will take advantage of these ranging markets.
3. For every benefit there is a disadvantage, and if you trade with a trailing stop you will not profit as well on a big run up. However it is a nice safety feature, and i for one run my EA with the trailing stop on.

Labels: EA, GBPJPY, Ranging Markets, trailing stop

The version of the carrygrid running on the server is going to be updated today, to be version5, with the trailing stop feature activated at 50 pips. This is a bit like adding extra wheels to a car - it will mean it cannot reach top speed, but it has better stability. This will help reduce drawdown, and provide profits in ranging markets, but upwardly trending markets will not profit as much as in previous versions, as the number of positions will be reduced.

Labels: Carrygridv5, trailing stop