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Reenter Orders EA: Proven Forex Robot for LQDFX and FXOpen
Unlock the potential of your trading with the Reenter Orders EA. This expert advisor (EA) is a powerful Forex robot designed to optimize your trading experience. Seamlessly integrate "reenterorders.mq4" on MT4 and witness its efficiency.
Boost your trading strategy with the Reenter Orders EA, a reliable tool that has undergone rigorous testing on renowned brokers like LQDFX and FXOpen. Elevate your Forex journey with this automated solution, enhancing precision and maximizing your trading potential.
Download now and experience the benefits of a proven Forex EA. Dominate the markets with the Reenter Orders EA – your key to successful trading on MT4talk.
reenterorders.mq4 3.29 kb, 29 downloads since 2015-04-19
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Boost Profits with ReEnterOrders EA
The EA follows a re-entry strategy. When a previously closed trade shows a profit, it checks for existing open orders and, if none, re-enters the market in the opposite direction to potentially capture further price movement.
How ReEnterOrders EA Works:
The ReEnterOrders EA works by monitoring your trading history and looking for closed orders that have made a profit. When it finds a closed order with a profit, it checks if there are no open orders for the same symbol and type (buy or sell). If no open orders exist, it then re-enters the market by placing a new order in the opposite direction (either a buy limit becomes a buy stop or a sell limit becomes a sell stop) at a price close to the original order's open price.
Key Functions:
Monitoring Closed Orders: The EA keeps an eye on your closed orders' history to identify profitable trades.
Checking for Existing Orders: It ensures there are no open orders for the same symbol and type to prevent duplicate entries.
Re-Entering the Market: If conditions are met, it re-enters the market by placing a new order with adjusted parameters.
To set up the ReEnterOrders EA, you need to:
Install it in your MetaTrader platform.
Attach the EA to a chart of the currency pair you want to trade.
Set the desired slippage parameter (default is 3).
Ensure that automated trading is enabled in your MetaTrader platform.
Let the EA run, and it will monitor your closed orders and execute new orders when profitable conditions are met.
These parameters can be adjusted:
Slippage: Defines the maximum allowable slippage when executing orders.
Lot Size: Sets the trading volume (lot size) for each trade.
Stop Loss: Specifies the distance in pips from the entry price at which a stop-loss order will be placed.
Take Profit: Determines the distance in pips from the entry price at which a take-profit order will be placed.
Magic Number: Assigns a unique identifier to the EA's orders, allowing you to distinguish them from other orders.
Expiration: Sets the duration for the order to remain valid. Use 0 for no expiration.
Setting for Winning Strategy:
Currency Pair: EUR/USD
Time Frame: 1-hour (H1)
Minimum Budget for All Parameters: $1,000
Parameter Settings:
Slippage: 3
Lot Size: 0.1
Stop Loss: 30 pips
Take Profit: 60 pips
Magic Number: 12345
Expiration: 0 (No expiration)
reenterorders.mq4 3.29 kb, 1 downloads since 2023-11-10
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