In this short article I’ll explain how the “Stop & Close” boxes work. You can see them in the top-right corner on the MT4 chart where you attach the Equity Sentry EA.
The “Closed Profit/Loss” of 101.32 USD at the bottom. You should make your chart window bigger to see these numbers.
So it works like this.
EA looks at all trades from the “Account History” since 2000.01.01 (you can see the date above the 101.32 number and you can control the date in the EA settings if needed). So this is how EA knows how many trades and what profit/loss is already generated on the account.
So lets say your closed trades profit is $52 and you run the EA and set 2nd box to close at $100 profit of closed+open.
This mean EA will take the $52 and wait for the rest $48 profit. The $48 profit can come in open trades (floating) or you might close some new trades where they will then be added to the $52.
- You start with $52 profit in account history.
- You open 3 trades.
- They float at +$30 total ($10 each).
- You close one trade at +$10 and now EA will see +$62 profit in account history.
- +$20 left floating in 2 trades.
- Now EA waits for $38 profit only, because there is already +$62 in closed trades in account history.
- Say 1 floating trade goes at -$20 and 2nd trade goes to +58. In total this makes 58-20= +$38
- Now that open profit reached +$38 and with closed profit of +$62 it makes +$100 the EA closes all trades.
- When EA starts to close trades the market/price does not stop moving, so it’s most likely that the trades will be closed with some deviation. In your case trades where closed with extra +$1.32 in profit.
Hope this helps.