The robust “Add to position” profile enables you to automate a number of different scale-in scenarios.
One of the most commonly used scenarios is “cost averaging” a losing trade. Although this is not a recommended way of trading, many trades successfully take advantage of such setups. However, the “Add to position” trade management profile offers a lot more…
The profile offers the following set of features:
- Up to 10 add to position settings
- Define “add to position” entry points by price or by number of pips from the main trade
- Enter position sizes as defined lot sizes or multiples of the main trade’s lot size.
- Preset lot size multiple sequences at your disposal (Fibonacci, Martingale, etc.)
- Optional settings for different Trade IDs assigned to each “add on” position
- Optional cloning of SL and or TP levels from the main trade onto the added position
- Optional definition of different SL and or TP levels for each added position
- Optional “Break Even +” action for all of the trades in the group after a position is added
Plese see the two examples below that show the most commonly used trade management scenarios utilizing the “Add to position” trade management profile offered in VTC.
Cost averaging a loosing trade
The example configuration presented below covers a typical usage scenario for cost averaging a losing position utilizing a grid system and the “Break Even +” feature.
The course of action – the
- At -20 pips an additional trade is opened (1 lot Long) with the same Stop Loss price as the main trade. The Take Profit for both trades is now moved to “Break Even” plus 5 pips.
- At -40 pips an additional trade is opened (1 lot Long) with the same Stop Loss price as the main trade. The Take Profit for all 3 trades in the group is now moved to “Break Even” plus 3 pips.
- At -60 pips an additional trade is opened (1 lot Long) with the same Stop Loss price as the main trade. The Take Profit for all 4 trades in the group is now moved to “Break Even” plus 2 pips.
- The price reverses and all 4 trades are closed at a “Break Even” price plus 2 pips.
Adding to a
The example configuration presented below covers a usage scenario where additional positions are opened as the trade continues into profit. Additional trades will be added at 15 pips and 30 pips of profit. Both the Stop Loss and Take Profit levels will be cloned onto the added positions.
The course of action – the profile is applied to a 1 lot Long Trade with a Take Profit of 50 pips and a Stop Loss of 25 pips.
If the trade goes against you all the way down to -35 pips the main trade will be closed at the defined Stop Loss level and additional positions will not be opened.
On the other hand, if the trade goes in your favor all the way to 50 pips the following will happen:
- At 15 pips of profit, an additional position is opened (0.5 lots Long) with the same Stop Loss and Take Profit prices as the main trade.
- At 30 pips of profit, another position is opened (0.5 lots Long) with the same Stop Loss and Take Profit prices as the main position. You now have 3 positions ( total of 2 lots Long ) open with the same Stop Loss and Take Profit Levels.
- At 50 pips of profit, all 3 trades in the group are closed
“Hidden” features of the “Add to position” profile editor
You can automatically change the default setting for all 10 rows of the profile editor by double-clicking on the following column headers:
- Units (in profit) – double-clicking will toggle the settings between
- price level
- Add to position Units column – double-clicking will toggle the settings between
- Add to position – double-clicking (while the “Units” column is set to “multiple“) will toggle between different sequences of lot multiples for the subsequent positions. The following sequences are available:
- Fixed: 1,1,1,1,1,1,1,1,1,1
- Sequence: 2,3,4,5,6,7,8,9,10,11
- Fibonacci: 1,2,3,5,8,13,21,34,55,89
- Martingale: 2,4,8,16,32,64,128,256,512,1024
- Copy SL/TP – double-clicking will toggle between the following settings:
- don’t copy
- both TP&SL
- only SL
- only TP
- SL/TP Units – double-clicking will toggle between:
- price level