How to set a pending order for minimum distance? Is it possible to set StopOrderDeltaifUSE = 0?

A pending order is an order that is placed at a specific distance from the current market price or from the price of the position you are protecting. Therefore, a pending order is not executed immediately upon placement.

What is SafetyLOCK PRO?

SafetyLOCK PRO is an Expert Advisor (EA) designed to protect your Forex trading positions by placing opposite pending orders (HEDGE) to minimize potential losses and manage risks effectively.

How does SafetyLOCK PRO protect my positions?

SafetyLOCK PRO protects your positions by opening opposite pending orders such as Buy Stop or Sell Stop . If the market moves against your original position, the pending order triggers to create a lock, thereby minimizing losses.

Can SafetyLOCK PRO work with any trading strategy?

Yes , SafetyLOCK PRO is designed to integrate with various trading strategies and Expert Advisors (EAs), enhancing their ability to manage risk by adding protective measures through opposite pending orders.

What are the main functions of SafetyLOCK PRO?

SafetyLOCK PRO offers functions like placing opposite pending orders, modifying order prices with trailing stops, multiplying lot sizes, setting Stop Loss and Take Profit levels, and monitoring specific symbols and magic numbers to protect your trades effectively.

How does SafetyLOCK PRO handle Stop Loss and Take Profit?

SafetyLOCK PRO allows you to set Stop Loss and Take Profit levels for pending orders. Additionally, it can modify these levels dynamically based on market movements to ensure optimal protection and potential profit maximization.

What is the purpose of the MagictoMonitor parameter?

MagictoMonitor is used to specify the magic numbers of positions that SafetyLOCK PRO should monitor. This ensures that the EA only manages positions associated with particular strategies or Expert Advisors, enhancing selective protection.

How do I set the SymbolToMonitor parameter?

SymbolToMonitor allows you to specify which currency pairs or instruments the EA should monitor. You can set it to specific symbols like EURUSD , USDCHF , or use 0 to monitor all symbols.

What happens when a pending order is triggered?

When a pending order is triggered, SafetyLOCK PRO creates a LOCK by activating both the original position and the opposite position. This helps in balancing the trade and minimizing potential losses.

Can SafetyLOCK PRO modify pending orders?

Yes , SafetyLOCK PRO can modify the price of pending orders using the TrailingStop feature. This ensures that pending orders follow the market price, maintaining effective protection as the market moves.

How does the lot multiplier (MNLOT) work?

MNLOT allows you to multiply the lot size of pending orders based on the original position's lot. For example, if the original lot is 0.5 and MNLOT is set to 2 , the pending order will open with a lot size of 1.0 .

What is the TrailingStop feature?

TrailingStop is a feature that automatically adjusts the Stop Loss level as the market price moves in your favor. This helps in locking in profits and reducing potential losses by trailing the stop at a specified distance from the current price.

How does the BreakEven function work?

The BreakEven function modifies the Stop Loss to the opening price plus a specified number of points once the position reaches a certain profit level. This ensures that the trade can no longer result in a loss.

Can SafetyLOCK PRO handle multiple pending orders?

Yes , you can set the NumberofStopOrder to open multiple pending orders for each position. This allows you to create a grid of pending orders with specified spacing using the DistancefromStopOrders parameter.

What is the purpose of the OrderSafetyMonitor parameter?

OrderSafetyMonitor controls whether SafetyLOCK PRO should monitor and manage the pending orders it has placed. Setting it to true enables monitoring, while false disables it.

How does SafetyLOCK PRO handle server minimum stop levels?

SafetyLOCK PRO can automatically adjust all stop-related parameters to meet the server's minimum stop levels using the SetMinStops feature. This ensures that your orders comply with broker requirements and prevents errors.

What is the Slippage parameter?

Slippage defines the maximum allowed deviation in price when opening or closing positions. It is measured in points (pips) and helps manage the risk of price changes during order execution.

Can SafetyLOCK PRO monitor specific types of deals?

Yes , using the Type_Monitoring parameter, you can specify the types of deals to monitor, such as BUY , SELL , or ALL , allowing for targeted protection based on your trading strategy.

How does SafetyLOCK PRO handle position comments?

With the Comment_Monitoring parameter, SafetyLOCK PRO can filter and manage positions based on their comments. This allows the EA to target specific trades for protection, enhancing its selective management capabilities.

What happens if the main position is closed?

If the main position is closed due to stop-loss, take-profit, or manually, SafetyLOCK PRO will automatically delete the associated pending orders to prevent unnecessary actions and maintain account integrity.

Is it possible to reopen SafetyLock pending orders?

Yes , the ReopenClosedSafetyOrders feature allows SafetyLOCK PRO to reopen pending orders if they were closed while the original position remains open, ensuring continuous protection.

How does SafetyLOCK PRO manage trailing stops after source position closure?

After the source position is closed , SafetyLOCK PRO can activate trailing stops or break-even functions on the remaining SAFETYLOCK positions using the TPWCM_TrailingStopUSE parameter, allowing for further profit management.

Can SafetyLOCK PRO handle different symbols simultaneously?

Yes , SafetyLOCK PRO can monitor and manage positions across multiple symbols simultaneously, as specified in the SPECIFID_Symbol_Monitoring parameter, enhancing its versatility in diverse trading environments.

What is the LockOnlyLossPosPoint parameter?

LockOnlyLossPosPoint ensures that SafetyLOCK PRO only locks positions that have a current loss exceeding the specified number of points (pips), allowing for selective risk management based on loss thresholds.

How does the system handle positions with both loss and profit conditions?

When both LockOnlyLossPosPoint and LockOnlyProfPosPoint are set, SafetyLOCK PRO locks positions that meet either condition: positions with losses greater than or equal to LockOnlyLossPosPoint or profits greater than or equal to LockOnlyProfPosPoint.

What are the benefits of using SafetyLOCK PRO?

SafetyLOCK PRO offers enhanced risk management, automatic protection of trades, dynamic adjustment of pending orders, and integration with various trading strategies, making it a comprehensive tool for safeguarding your Forex investments.

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August 1, 2020

SafetyLOCK PRO Protect your positions by locking using the opening of opposite pending orders. Lock Hedge

SAFETYLOCK: Secure Your Trades Against Sharp Market Reversals Trading on financial markets involves high risks, particularly during sharp market reversals. SAFETYLOCK is a unique tool that helps traders minimize losses by automatically placing a counter order for an existing position. You can now trade with confidence, knowing that unexpected market movements won't impact your trades.