Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Question 1

Do you have a recommended setting?

Accepted Answer

Friends.

Question 2

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

Accepted Answer

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.

Question 3

What is SafetyLOCK PRO?

Accepted Answer

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.

Question 4

How does SafetyLOCK PRO protect my positions?

Accepted Answer

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.

Question 5

Can SafetyLOCK PRO work with any trading strategy?

Accepted Answer

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.

Question 6

What are the main functions of SafetyLOCK PRO?

Accepted Answer

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.

Question 7

How does SafetyLOCK PRO handle Stop Loss and Take Profit?

Accepted Answer

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.

Question 8

What is the purpose of the MagictoMonitor parameter?

Accepted Answer

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.

Question 9

How do I set the SymbolToMonitor parameter?

Accepted Answer

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.

Question 10

What happens when a pending order is triggered?

Accepted Answer

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.

Question 11

Can SafetyLOCK PRO modify pending orders?

Accepted Answer

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.

Question 12

How does the lot multiplier (MNLOT) work?

Accepted Answer

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.

Question 13

What is the TrailingStop feature?

Accepted Answer

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.

Question 14

How does the BreakEven function work?

Accepted Answer

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.

Question 15

Can SafetyLOCK PRO handle multiple pending orders?

Accepted Answer

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.

Question 16

What is the purpose of the OrderSafetyMonitor parameter?

Accepted Answer

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.

Question 17

How does SafetyLOCK PRO handle server minimum stop levels?

Accepted Answer

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.

Question 18

What is the Slippage parameter?

Accepted Answer

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.

Question 19

Can SafetyLOCK PRO monitor specific types of deals?

Accepted Answer

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.

Question 20

How does SafetyLOCK PRO handle position comments?

Accepted Answer

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.

Question 21

What happens if the main position is closed?

Accepted Answer

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.

Question 22

Is it possible to reopen SafetyLock pending orders?

Accepted Answer

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

Question 23

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

Accepted Answer

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.

Question 24

Can SafetyLOCK PRO handle different symbols simultaneously?

Accepted Answer

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.

Question 25

What is the LockOnlyLossPosPoint parameter?

Accepted Answer

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.

Question 26

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

Accepted Answer

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.

Question 27

What are the benefits of using SafetyLOCK PRO?

Accepted Answer

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.

SafetyLOCK PRO

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