I remember, how it felt to be a discretionary trader. When I made my first trading experiences, I was constantly in doubt and fear to loose money by making stupid mistakes.
And I did. I remember an evening when I missed a comma in the lot size and opened a position ten times bigger as wanted.
I remember awaking in the middle of the night and thinking about my open trades. I remember how often I was almost sure that I needed to get up right away and check my Metatrader.
And I remember how excited I was when someone told me that it is possible to automate your MT4 trading with MQL.
This weekend I have released the study letter 15 of the Golden Goose Construction Kit that describes how to create a trailing stop to protect your trades over night for a better sleep.
And if you are where I was not so long ago, this might be the one thing that would probably help you most if you have to leave your PC and go to sleep or to work .
Sign up for the free course and send me a mail with the keyword Nightly Trailing Stop and I will send you a stand allone version for Metatrader 4 right away.
Imagine the relief when you no longer have to worry if your open trades are going to ruin you while you are away from your Desk.
Actually it is not so hard to code something like this, but if you prefer you can also get ready to use modules that can be adjusted to your needs without any coding.
How does the Nightly Trailing Stop Module work? Well, It checks the Highs and Lows for a number of candles on your chart. 100 candles are predefined, but you can adjust the number to your needs. If you are in a long trade, it will trail to the last Low. If you are in a short trade, it will trail to the last High.
The Nightly Trailing stop comes for Demo accounts only, but if you request the source code, you could also adjust it to work on your live account – if you know what you are doing!
And if you don’t know what you are doing right now, why not invest 5 minutes a day and become a member of the Golden Goose Course today?