adaptive Profit Target

We all know the Trail Stop. but what about a Profit Target reducing Trail. in other words a trail that trails the price while its heading towards the stop loss target. one we can set to start if the price goes an X number of pips against us. and thus reducing the profit target so that we can still exit with a profit, be it smaller than first expected.

I hope this makes sense.

yes, it is an interesting idea. 

It is possible to achieve this also now by creating rule(s) that would check for current open P/L and modify order Stop Loss or Profit Target.

EA Wizard has all the functions needed for this.

even though I like the fact that it can be done with the current functionality of EA wizard. I myself don’t know how to go about this and would be spending much time playing around until I find the correct solution. 🙁

I attached a simple example here – the strategy starts with SL/PT set at 100 pips.

If open PL() is lower than -50 pips it will move PL to only 50 pips from open price.