Taking constant losses? Market always moving against you?
The Dealer is for these situations and for anyone who wants to manage risk automatically. By just providing a stoploss price, amount of orders and the risk percentage, this script automatically determines the direction, and spreads the orders.
How would it work?
Keep your stoploss away from a major trap area and apply the script. For example taking a 5% risk and entering 5 as amount of orders would mean there will be 5 orders in which each order will have exactly 1% risk while sharing the same stoploss. The stoploss range is lower for orders close to the peak and therfore your lot sizes are increasing the more you lose. But this is not martingale. Your risk is 100% taken care of. The common name given to this sort of trading is called scaling out.
Lets get more visual
It ofcourse does not have to be 5 orders or 3 orders. It can be any amount of orders. But if even 1 pending order fails. The rest of the pending orders will get deleted. And the entry made at current market price will always happen after all pending orders have been successfully placed.
The script is designed this way to protect the equity of traders, as on the high level for people trading extremely large accounts (prop firms) would have to pay a lot of spread for a mistake getting in and out.
That said, Please test the script in demo first and report back if you have any issues
The Dealer Script for Metatrader 4