Greetings everyone.
If any can help me finding such an ea or code if possible.
I manually place orders on the chart either using stop or limit orders. Ea idea is as follows:
1. Once a order get triggered the ea will place a reverse order, which means for a buy order it will place a sell stop order exactly at the stop loss price. Example: EurUsd buy order triggered at 1.12345, SL is 1.12253 with 0.10 lot. The ea will place a sell stop exactly at the 1.12253.
2. I have strict SL & TP policy for each trade & its always dynamic, which means changes with the market volatility. The buy/sell stop order will have a SL & TP as well. The stoploss will be equal to the entry price of the stopped out trade. From the above example, it will place SL at the 1.12345. TP will be half the StopLoss pips of original oder. From the above example stop loss was 9.2 pips, so the TP will 4.6 pips(+spread & commission cost). TP will be user selectable : 'half the SL pips, equal to SL pips, 1.5 of SL pips, Double the SL pips'.
3. The stop order lot size will be double the original/initial order size. Which means from the above example the stop order will be 0.20 lot. This lot size will be user selectable: 'same as original, double of orginal, triple of orginal, four times of original'.
So above is the idea. This reverse order ea is actually to make break even for the loss trade taken. For this moment it is semi automated trading but it can be fully automated including the original entry, the system has complete rules of entry exit sl tp. From the 3rd point it will seems like this guy is trying another martingale idea. Yes it is but its controlled martingale. 1 step & out there is no second third or consecutive steps. It will always take 0.5% risk in the original trade, if it hits the stoploss order shall trigger the double size order which will be 1% of the account, if this second order fails as well, i let it go. So total loss will be 1.5% of the account. On bigger account i will try 0.1 or even 0.01%. Aim is to keep DD under 4-5%, gain target is 3-5% a month.
So if you code this & i find it working in good working order. I will share with you the entry rules to fully automate this, we will work together in a group & test it to improve further.
And please i need the mql4 file.
Sorry if you disagree at this point. No problem with that.
Have a good day.
Thanks & Best Regards,
AAR.
If any can help me finding such an ea or code if possible.
I manually place orders on the chart either using stop or limit orders. Ea idea is as follows:
1. Once a order get triggered the ea will place a reverse order, which means for a buy order it will place a sell stop order exactly at the stop loss price. Example: EurUsd buy order triggered at 1.12345, SL is 1.12253 with 0.10 lot. The ea will place a sell stop exactly at the 1.12253.
2. I have strict SL & TP policy for each trade & its always dynamic, which means changes with the market volatility. The buy/sell stop order will have a SL & TP as well. The stoploss will be equal to the entry price of the stopped out trade. From the above example, it will place SL at the 1.12345. TP will be half the StopLoss pips of original oder. From the above example stop loss was 9.2 pips, so the TP will 4.6 pips(+spread & commission cost). TP will be user selectable : 'half the SL pips, equal to SL pips, 1.5 of SL pips, Double the SL pips'.
3. The stop order lot size will be double the original/initial order size. Which means from the above example the stop order will be 0.20 lot. This lot size will be user selectable: 'same as original, double of orginal, triple of orginal, four times of original'.
So above is the idea. This reverse order ea is actually to make break even for the loss trade taken. For this moment it is semi automated trading but it can be fully automated including the original entry, the system has complete rules of entry exit sl tp. From the 3rd point it will seems like this guy is trying another martingale idea. Yes it is but its controlled martingale. 1 step & out there is no second third or consecutive steps. It will always take 0.5% risk in the original trade, if it hits the stoploss order shall trigger the double size order which will be 1% of the account, if this second order fails as well, i let it go. So total loss will be 1.5% of the account. On bigger account i will try 0.1 or even 0.01%. Aim is to keep DD under 4-5%, gain target is 3-5% a month.
So if you code this & i find it working in good working order. I will share with you the entry rules to fully automate this, we will work together in a group & test it to improve further.
And please i need the mql4 file.
Sorry if you disagree at this point. No problem with that.Have a good day.
Thanks & Best Regards,
AAR.
How big can you think!
