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pacman: Take Profit Close trade and reopen in same direction

  • #1
  • First Post: Edited Apr 8, 2019 10:31pm Jan 17, 2019 9:40pm | Edited Apr 8, 2019 10:31pm
This thread is closed.
  • #2
  • Jan 18, 2019 12:15pm Jan 18, 2019 12:15pm
this would just leave you with an gap that is never filled, unless im doing my math wrong? Are there always just 2 trades open a sell and a buy? or do you add additional orders?

from my perspective, correct me if i'm wrong, you open a buy and a sell at 1.04, then at 1.05 you have $500 profit on the buy side, close it, and open a buy at 1.05 with the same lot size. suppose it goes from 1.05 to 1.04, then to 1.03. your sell now has $500 profit, but your buy has -$1000.

Am I doing that correctly?
  • #3
  • Jan 19, 2019 6:48pm Jan 19, 2019 6:48pm
let's say not $500 but $5 with small lot size and pair EURUSD.

Set Parameters:

Lot size = 0.05
Number of lots allowed for same pair in same direction = 5

Take profit = $5
Include Commission = Yes
Include Swap = Yes

Open new Grid Trade When losing trade = -$500 (You may reduce it to $-50 up to you)
Include Commission = No
Include Swap = No

Market moves in both directions.
EURUSD Sell Trade in positive $5
EURUSD Buy Trade in negative $-5

1- The EA automatically close EURUSD Sell Trade with $5 profit and reopen new Sell Trade of same lot size.
2- The EA calculates if 1 EURUSD losing BUY trade >= -$500 THEN Open new BUY trade = TRUE
3- The EA calculates if 2 EURUSD losing BUY trades >= -$1000 THEN Open new trade = TRUE

The market moves within 100pips 5 to 10 times. means $500 profit X 5 = $2500.
Depending your account balance , for smaller balance trade with AUDNZD or AUDCAD or CADNZD or GBPEUR. Otherwise aggressive trading with XAUUSD or EURUSD or GBPUSD.

I have been trading this manually for a decade with decent profit. And you win jackpot during NEWS. Remember whatever goes up that comes down as well regardless you are day trading or news trading.
  • #4
  • Jan 21, 2019 8:34am Jan 21, 2019 8:34am
This is not exactly what I was looking for but this EA needs improvements. However, its fully functional and profit taking EA.
Attached File(s)
File Type: mq4 Hedging Martingale.mq4   46 KB | 304 downloads
  • #5
  • Jan 21, 2019 10:22am Jan 21, 2019 10:22am
I am not sure I understand this correctly. You close the trade in profit - then re-open exactly the same size in the same direction? Why? Why close it at all, surely you are only paying the spread twice?

I thought this was similar to my own strategy, but I would have either a) waited for pullback to re-enter in same direction or b) added a 2nd position in the opposite direction.

Please clarify, I am really interested in what you are doing.
  • #6
  • Jan 21, 2019 5:21pm Jan 21, 2019 5:21pm
Quoting fareed51
let's say not $500 but $5 with small lot size and pair EURUSD. Set Parameters: Lot size = 0.05 Number of lots allowed for same pair in same direction = 5 Take profit = $5 Include Commission = Yes Include Swap = Yes Open new Grid Trade When losing trade = -$500 (You may reduce it to $-50 up to you) Include Commission = No Include Swap = No Market moves in both directions. EURUSD Sell Trade in positive $5 EURUSD Buy Trade in negative $-5 1- The EA automatically close EURUSD Sell Trade with $5 profit and reopen new Sell Trade of same lot size. 2- The...
Ok, so let me get this straight. you open a buy and sell at say 1.05 with a lot size of 0.05. The market moves up to 1.06, and you close your buy order and get $5 units. so option a.) then you open another buy order at 1.06. Now you have a buy order with the lot size 0.05 that has moved 0 points and worth $0, and a sell order of a lot size 0.05 that is worth $-5. This option has 2 total open orders.

or

b.) You open a new buy and sell at 1.06, you also leave the old sell order that is now $-5, and wait until the old sell order either goes to 0, or is in profit for 5 dollars, or combines with the new sell order to get a neutral position. this option has 3 total open orders.

Thanks!
  • #7
  • Jan 21, 2019 9:48pm Jan 21, 2019 9:48pm
Quoting heldav
I am not sure I understand this correctly. You close the trade in profit - then re-open exactly the same size in the same direction? Why? Why close it at all, surely you are only paying the spread twice? I thought this was similar to my own strategy, but I would have either a) waited for pullback to re-enter in same direction or b) added a 2nd position in the opposite direction. Please clarify, I am really interested in what you are doing.

Yes this is griding
Open Buy & Sell @ 1.0550 with lot size 0.05
Chart moves to 1.05600 and you close Buy lot $5 and open new Buy order same lot same size and leave Sell lot opened with -$5
Chart moves to 1.05400 and you close Sell lot $5 and open new Sell order same lot same size and leave buy lot opened with -$10

Chart moves to 1.05000 and your close Sell lot $5 and open new Sell lot same lot same size and buy lot is now -$50 that's when Martingale kicks in to support Buy lot and clear the mess.

Chart moves to 1.49900 you keep closing and reopen Sell lot with $5 profit. and use Martingale to clear the mess of BUY trade and close all BUY trade whenever possible with $5 pip profit.
  • #8
  • Jan 21, 2019 9:54pm Jan 21, 2019 9:54pm
Quoting cyguy
{quote} Ok, so let me get this straight. you open a buy and sell at say 1.05 with a lot size of 0.05. The market moves up to 1.06, and you close your buy order and get $5 units. so option a.) then you open another buy order at 1.06. Now you have a buy order with the lot size 0.05 that has moved 0 points and worth $0, and a sell order of a lot size 0.05 that is worth $-5. This option has 2 total open orders. or b.) You open a new buy and sell at 1.06, you also leave the old sell order that is now $-5, and wait until the old sell order either goes...

Yes you are right the option a.) then you open another buy order at 1.06. Now you have a buy order with the lot size 0.05 that has moved 0 points and worth $0, and a sell order of a lot size 0.05 that is worth $-5. This option has 2 total open orders.

So you keep going with market moves and $5 pips. However, well the EA should close Sell lots for that particular pair and eave BUY lots opened.
  • #9
  • Jan 22, 2019 2:22am Jan 22, 2019 2:22am
I trade on a grid system, I also understood the concept of Martingale to be increasing the lot size on new positions. Unless I am misunderstanding your system, you are simply widening the gap between the buy and sell positions, and unable to move in either direction when the market ranges. (I have ended up in this position several times and learnt from it). You also end up paying commission/spread on those open positions.
  • #10
  • Edited 6:29pm Jan 22, 2019 2:49am | Edited 6:29pm
Quoting heldav
I trade on a grid system, I also understood the concept of Martingale to be increasing the lot size on new positions. Unless I am misunderstanding your system, you are simply widening the gap between the buy and sell positions, and unable to move in either direction when the market ranges. (I have ended up in this position several times and learnt from it). You also end up paying commission/spread on those open positions.

heldav; please read again

2 trades opens Buy & Sell
Sell lot closes and take its profit as usual $5 as market is in its Favor, ofcourse EA reopens Sell trade again so total 10 trades and total profit is taken $50
Buy lot didn't close and in negative -$50 now.

You are going to use martingale on Buy trade to clean up the mess created by Buy trade which is sitting on -$50 now. However, the Sell trade will keep collecting said profit $5. Martingale will kicks in when Buy or Sell trade will be in minus either -$5 or -$50. So this will be your choice to start martingal when Buy trade is in -$5 or $50. During news spread widen and prices moves crazy therefore $50 or $100 is prefer also maximum spread filter can stop martingal to kicks in.

I understand you are concern about commission and swap so please don't be for a second.



I have been trading this way for more than 10 years. Yes things go ugly messy but if you know how to clean the mess so nothing to worry about.
  • #11
  • Jan 22, 2019 6:28pm Jan 22, 2019 6:28pm
CloseAtProfit - v2.00 is doing exact what I want, however this needs the following features;

1- Include commission and swap in 1 pip profit calculation.
2- All Symbols = True or False.


Attached File(s)
File Type: mq4 -CloseAtProfit - v2.00.mq4   3 KB | 270 downloads
  • #12
  • Jan 22, 2019 9:15pm Jan 22, 2019 9:15pm
Quoting fareed51
{quote} Yes you are right the option a.) then you open another buy order at 1.06. Now you have a buy order with the lot size 0.05 that has moved 0 points and worth $0, and a sell order of a lot size 0.05 that is worth $-5. This option has 2 total open orders. So you keep going with market moves and $5 pips. However, well the EA should close Sell lots for that particular pair and eave BUY lots opened.
oh ok, see you didn't really say anything about using martingale, that makes more sense. cool model, I was contemplating that model but didn't think about using martingale with it.
  • #13
  • Jan 22, 2019 11:26pm Jan 22, 2019 11:26pm
is there a point where you end the martingale, or do you just keep doubling by say 500 pips or something? or maybe (avg trend length/4) ?
  • #14
  • Jan 23, 2019 7:39pm Jan 23, 2019 7:39pm
cyguy; Take profit EURUSD SELL $5. EURUSD BUY -$5 after 50 pips use 2 X GRID and then after 100 pips difference martingale to close EURUSD BUY -$50 with $5 profit or close at breakeven.

Imagine if you have balance of $700,000 and you are trading with 0.01 lot size. Stable system and regular income is what we need.

Consistency comes with slow practice and sticking to it. There is no 100% set and forget EAs. We have to monitor once a while.

Just for stats. - one can make decent income with small 10% per month return. It gives on 213% per annum.

If you have 20% per month- it makes 791% per annum.

So target for traders should be to make that consistently. 20% per month which is 1% per day.

On 1000 deposit 1% is $10.

So having right expectations and targets make us better traders.
  • #15
  • Edited 9:54pm Jan 23, 2019 9:33pm | Edited 9:54pm
Quoting fareed51
cyguy; Take profit EURUSD SELL $5. EURUSD BUY -$5 after 50 pips use 2 X GRID and then after 100 pips difference martingale to close EURUSD BUY -$50 with $5 profit or close at breakeven. Imagine if you have balance of $700,000 and you are trading with 0.01 lot size. Stable system and regular income is what we need. Consistency comes with slow practice and sticking to it. There is no 100% set and forget EAs. We have to monitor once a while. Just for stats. - one can make decent income with small 10% per month return. It gives on 213% per annum. If...
Hi I've been trying on grid for many years but no success on fine tuning it. how do u martingale it successfully. If SELL keep collecting only $5 but BUY as now is 2 X grid, meaning every SELL you earn $5, BUY is at -$10.

EURUSD:
Buy 1.04 Sell 1.04
price move to 1.05, Buy TP $5 and reopen position. Sell is now -$5, Total TP $5
price move to 1.06, Buy TP $5 and reopen position. Sell is now -$10 Total TP $10
price move to 1.07, Buy TP $5 and reopen position. Sell is now -$15 Total TP $15
price move to 1.08, Buy TP $5 and reopen position. Sell is now -$20 Total TP $20
price move to 1.09, Buy TP $5 and reopen position. Sell is now -$25 Total TP $25
price move to 1.10, Buy TP $5 and reopen position. Sell is now -$30, Total TP $30
price move to 1.11, Buy TP $5 and reopen position. Sell is now -$35 Total TP $35
price move to 1.12, Buy TP $5 and reopen position. Sell is now -$40 Total TP $40
price move to 1.13, Buy TP $5 and reopen position. Sell is now -$45 Total TP $45
price move to 1.14, Buy TP $5 and reopen position. Sell is now -$50 Total TP $50

meaning only 1000 pips move then we start martingale? for EU, it will take few months.

So if now we start the SELL x 2, at 1.14
price move to 1.13, Sell TP $10 and reopen position. Sell is now -$45, buy is now -$5 Buy Total TP $50, Sell Total TP is $10.

now that you had a net profit, of $10, u close all and start over again correct?

that is if price retrace at exactly from the point u start your martingale. if it did not, the following will happen.

So if now we start the SELL x 2, at 1.14
price move to 1.15, 1 Sell is now -$55, 2XSell is now -$10, Buy TP $5 and reopen position. Buy Total TP $55.
price move to 1.16, 1 Sell is now -$60, 2XSell is now -$20, Buy TP $5 and reopen position. Buy Total TP $60.
price move to 1.17, 1 Sell is now -$65, 2XSell is now -$30, Buy TP $5 and reopen position. Buy Total TP $65.
price move to 1.18, 1 Sell is now -$70, 2XSell is now -$40, Buy TP $5 and reopen position. Buy Total TP $70.
price move to 1.19, 1 Sell is now -$75, 2XSell is now -$50, Buy TP $5 and reopen position. Buy Total TP $75.

now total loss gets larger and larger. when do u initiate another martingale sell 3x? we will never be able to know where the market change direction?

And also, what happens if the price hover in between the Buy and Sell which is several hundred pips apart.

please advise....
  • #16
  • Jan 23, 2019 10:00pm Jan 23, 2019 10:00pm
OMG, this is like little kids discovering martingale!

Why doncha skip it and search for the real thing, because all roads lead to Rome and there are plenty of martingale and grid fine ideas and experts all over the FF ...good luck!
Member
  • #17
  • Jan 24, 2019 2:22am Jan 24, 2019 2:22am
I think the original purpose of this post was to ask for help with EA, on which I definitely can't help.

However, the whole set up seems flawed to me. Where do you place the original buy/sell orders? In theory you could simply enter anywhere. Where are the exit points and based on what criteria? It seems to me that martingale in routinely used to clean up the mess, where a better entry/exit system could have avoided the mess in the first place.

I still see no purpose whatsoever in exiting a position simply to replace it with another identical size. When I am exiting, I either wait for a pullback, or reduce the size of the new position so some of the profit has been locked in. There is no profit in taking profit if the equity is simply reducing.

This morning I exited a gu long at 1.3080. I re-entered with the same position size at 1.3057 - prematurely I think, should have held for greater pullback, but still in a better grid position.

The profit stats of say 1% per day sound impressive, but no use whatsoever unless this is clear profit in the bank, and not tied up in a losing hedge position. And an earlier comment, - And also, what happens if the price hover in between the Buy and Sell which is several hundred pips apart - is in my opinion, exactly what happens most of the time.
  • #18
  • Jan 24, 2019 5:27am Jan 24, 2019 5:27am
Quoting heldav
I still see no purpose whatsoever in exiting a position simply to replace it with another identical size.
fareed51's strategy sounds interesting -- though I'm still trying to wrap my brain around it. Furthermore, Martingale and Grid trading are new to me.

I believe the purpose of exiting a winning position from time-to-time is you need to keep your AccountBalance above water, otherwise you wouldn't be allowed to open new positions. With this type of strategy there are going to be draw-downs and you need that AccountBalance to remain above some threshold so you can survive and trade another day.

I did experiment a bit using MT4's Strategy Tester and it looks impressive. But that's nothing new-- often times things look good when back testing and subsequently perform poorly in a live account. So, though back testing is not a true measure, at least it seems this strategy is worth taking a closer look at. Also, since fareed51 has supplied the source code then it becomes much easier to understand and experiment with and test.
  • #19
  • Jan 24, 2019 7:37am Jan 24, 2019 7:37am
Much appreciated guys. This EA closes each trade after Taking profit,

I want this EA to reopen same pair, same buy/sell trade, same lot size.

Anyone please ?
Attached File(s)
File Type: ex4 -CloseAtProfit - v2.00.ex4   9 KB | 257 downloads
File Type: mq4 -CloseAtProfit - v2.00.mq4   3 KB | 305 downloads
  • #20
  • Mar 8, 2019 4:36am Mar 8, 2019 4:36am
Attached File(s)
File Type: ex4 PriceactionInd.ex4   11 KB | 266 downloads
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