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Hedge Trade-panel

  • #221
  • Jun 13, 2020 4:45am Jun 13, 2020 4:45am
Quoting Johannes7
Hi Bill, I've been doing demo trading and I'm pretty impress with HP17. Thank you for a great tool. I'm taking trades following m1/M5/M15 indicator. I've attached 2 pictures of trades EUDAUD where I activated reverse and later on pressed hedged and walked away....since that activated you see plenty of trades...is EA trying to recover losses....it has taken trades in both directions and still not finish.....could you please explain how it's working?
Ahh yes the magic of symbol basket TP combined with auto hedging SL
I'm glad you are very impressed, I hope you are learning something but don't try this in a live account.
Can you attach a copy of your set file?

Because I'm guessing that you have activated symbol basket TP + automatic hedging SL.
so the symbol basket TP function will be closing profitable trades and the hedging SL function will be opening new ones.

When you hedged the trades, none of your trades was in profit so nothing else happened
but when 1 of the 2 sides became profitable,
the symbol basket TP of side A was reached (either the BUY or the SELL side)
and the EA closed the profitable trade/s.

When the profitable trades closed, the EA then realized that the opposite side was in loss and that it had reached its hedging SL level so it hedged again.
At that moment nothing else happened but soon the market moved again and 1 of the 2 sides became profitable
so when the symbol basket TP was reached, it closed the profitable trades and the EA auto hedged again.
The process will repeat itself forever....
Have a nice day
  • #222
  • Jun 13, 2020 8:05am Jun 13, 2020 8:05am
Quoting billv
{quote} Ahh yes the magic of symbol basket TP combined with auto hedging SL I'm glad you are very impressed, I hope you are learning something but don't try this in a live account. Can you attach a copy of your set file? Because I'm guessing that you have activated symbol basket TP + automatic hedging SL. so the symbol basket TP function will be closing profitable trades and the hedging SL function will be opening new ones. When you hedged the trades, none of your trades was in profit so nothing else happened but when 1 of the 2 sides became...
Hi Bill, thanks for your reply. Please find attach setfile I used.
What I try to achieve is look at my Indicators for M1/M5/M15/M30 and if they all agree place trade Buy or Sell and I get one set of trades and have to place new trade. If process as I have with EUDAUD if it repeats itself "forever what is the danger if it takes trades both side? (made over $300 Friday)

Please advise Bill.
  • #223
  • Jun 13, 2020 8:11am Jun 13, 2020 8:11am
Attached File(s)
File Type: txt HPT17 - Copy.txt   1 KB | 245 downloads

I had to change set to txt
  • #224
  • Edited 8:30pm Jun 13, 2020 8:59am | Edited 8:30pm
Quoting Johannes7
{quote} Hi Bill, thanks for your reply. Please find attach setfile I used. What I try to achieve is look at my Indicators for M1/M5/M15/M30 and if they all agree place trade Buy or Sell and I get one set of trades and have to place new trade. If process as I have with EUDAUD if it repeats itself "forever what is the danger if it takes trades both side? (made over $300 Friday) Please advise Bill.
Like I suspected, you have auto hedging SL plus symbol TP = true

Ok the danger is that the market will not be trending hard and then reversing as it did on Friday
it can be trending hard for many days without a reversal and it can also be ranging and doing small ranges
so your losses will be bigger than your wins.

Since you have more than 3 open trades, these settings will apply

SymbolTradesBelongToBasket3=true
SymbolMinTradesOpenForBasket3=3
Percentage3OfTrade1ToClose=50.0
Percentage3OfTrade2ToClose=50.0
PercentageOfTrade3AndMoreToClose=100.0
SymbolBasketCashTakeProfit3=2.0

These particular settings mean that when 3 or more trades reach TP, the EA will close 50% of trade 1, 50% of trade 2 plus 100% of trades 3 and up.
But your TP setting is low (2.0) so the symbol TP will be reached very easily and you will have trades closing all the time and then new hedge trades opening.
Whether you make money or not depends on many factors, such as:currency, price action, spread, slippage etc.

With demo accounts there is no slippage so the conditions are perfect.
It will not be the same when you trade live.
Have a nice day
  • #225
  • Jun 13, 2020 7:43pm Jun 13, 2020 7:43pm
Thanks Bill for your time to get back to me. With your reply you helped me understand a few things better.
I'll keep practising on Demo and see how it goes and report back. I really appriciate your support. Thank you!
  • #226
  • Jun 13, 2020 9:16pm Jun 13, 2020 9:16pm
Quoting Johannes7
Thanks Bill for your time to get back to me. With your reply you helped me understand a few things better. I'll keep practising on Demo and see how it goes and report back. I really appreciate your support. Thank you!
By the way, don't change your TP setting yet,
There is nothing wrong with taking small profits because the odds of price reaching a distant target are decreasing as time goes on.
Play with it and become familiar with the process because then it will be easier to understand the next EA version which is coming very soon.
Have a nice day
  • #227
  • Jun 14, 2020 2:06am Jun 14, 2020 2:06am
Quoting billv
{quote} By the way, don't change your TP setting yet, There is nothing wrong with taking small profits because the odds of price reaching a distant target are decreasing as time goes on. Play with it and become familiar with the process because then it will be easier to understand the next EA version which is coming very soon.
Bill, I have installed on Demo Tradepanel on 5 pairs. Should I tick box "Only manage panel orders"?
I gues it is only necessary if I have other EA with same pair
  • #228
  • Jun 14, 2020 2:13am Jun 14, 2020 2:13am
Quoting Johannes7
{quote} I guess it is only necessary if I have other EA with same pair
Good guess
Have a nice day
  • #229
  • Jun 14, 2020 2:30am Jun 14, 2020 2:30am
Quoting billv
{quote} Good guess
Thanks and 1 more question. I use a different autotrades EA but at time I got into troble managing aroung 15 trades.
What would I need to adjust in tradepanel settings to manage those trades for my recovery?

Bill, I only just relised that you are in Sydney. I'm in Melbourne.
  • #230
  • Jun 14, 2020 3:07am Jun 14, 2020 3:07am
Quoting Johannes7
{quote} Thanks and 1 more question. I use a different autotrades EA but at time I got into troble managing aroung 15 trades. What would I need to adjust in tradepanel settings to manage those trades for my recovery? Bill, I only just relised that you are in Sydney. I'm in Melbourne.
Didn't we discuss this and we said that the magic number needs to be the same as that of the other EA?
Have a nice day
  • #231
  • Jun 14, 2020 4:02am Jun 14, 2020 4:02am
Quoting billv
{quote} Didn't we discuss this and we said that the magic number needs to be the same as that of the other EA?
You're right we did. Will it be posiible in new version to change Magic number in settings?
  • #232
  • Edited 6:43am Jun 14, 2020 4:13am | Edited 6:43am
Quoting Johannes7
{quote} Thanks and 1 more question. I use a different autotrades EA but at time I got into troble managing aroung 15 trades. What would I need to adjust in tradepanel settings to manage those trades for my recovery? Bill, I only just relised that you are in Sydney. I'm in Melbourne.
Try this version, it has a magic number input
Use the attached set file ( it is zipped)
The Default TP & SL are set to 50 and the hedging SL is set to 20

This version has more levels of symbol TP plus it uses the Average daily range (ADR) of a currency pair as a symbol basket level 1 TP
Here are the relevant inputs
ADR_TP=true
ADR_PipPercent_TP=8 (this means that trade 1 will take profit at 8% of the average daily pip range of a pair) So if the EURUSD has an ADR of 70, then 8% means 5.6 pips of TP. This function is useful if you are trading many different currency pairs because some pairs have a daily range of 50 pips and some have 150 pips so the TP is automatically adjusted for the ability of each pair to reach a target.
This feature is only available for the 1st trade because I use the EA for scalping
and I'm only interested in the 1st trade taking profit and becoming smaller in size as soon as possible.

ADR_PipPercent_TP2_Multiplier=2.0
This input is simply a multiplier for the trade 1 TP.
In our above example the 8% on EURUSD was 5.6 pips so
with a multiplier of 2 the EA will partially close again trade 1 at 2 times the distance of 5.6 pips.

Now this pip distance will vary between currency pairs and it will vary between brokers too because it relies on your MT4 having good historical data
You can experiment with this % setting and find the trigger level you prefer.
I use 8% but you can use 10 or 15, the higher the number, the harder it will be for trade 1 to reach TP.

If you are finding that this distance is inaccurate you can force MT4 to load historical data by running any of the attached Force Historical Data scripts
These scripts go into your MT4/Scripts folder and after you restart MT4 they should appear in your navigator ( under Scripts)
When you see them in the navigator, you simply drag and drop any of the 2 scripts on any chart (the MT4 Autotrading buttons should be green)
and you should allow live trading + DLL's in the script settings.

SymbolBasketCashTakeProfit1=0.0 (this means that our $ TP=0)
SymbolBasketCashPercentageTarget1=0.04 ( this is Equity % TP and it is set to 0.04% so for a $10K account = $4)
SymbolTargetOnPips1=true ( this input enables the pip TP for the next input)
SymbolBasketPips1=30
SingleTargetForTP1=false (when this input=false, it allows multiple types of TP for trade 1)

So with the above settings 1 single trade can have the default TP of 50 pips
But when it reaches 5.6 pips of profit the EA will close half of the trade
When it reaches 11.2 pips it will close half of the trade again, and so on
But when it reaches 30 pips, it will close all of the remaining trade so it will never reach the default TP of 50 pips.


Something for scalpers to think about
Since there are several types of TP for trade 1, if you open a large size trade
e.g 1 LOT and you are using the above settings,
it is likely that the equity TP will be reached before the trade had moved by 5.6 pips
and in this case the equity TP will close the trade at $4 at a distance of 0.5 pip and you will probably be slipped and perhaps have no profit to show.
So a trader needs to play with the settings and understand fully what these setting do and how they interact with each other.
Attached Image
Attached File(s)
File Type: ex4 HedgeTradePanel23.ex4   407 KB | 403 downloads
File Type: zip HEDGEPANEL-23 - HEDGING SL20+ BE.zip   1 KB | 502 downloads
File Type: ex4 ForceLoadHistoricalData.ex4   4 KB | 374 downloads
File Type: ex4 Force history download.ex4   4 KB | 361 downloads
Have a nice day
  • #233
  • Jun 14, 2020 4:26am Jun 14, 2020 4:26am
Thank you Bill for constant improvements, it's much appreciated!
  • #234
  • Jun 14, 2020 4:32am Jun 14, 2020 4:32am
And here is a set file with all the levels of symbol TP disabled.
Attached File(s)
File Type: zip HEDGEPANEL-23 - SYMBOL TP=FALSE.zip   1 KB | 403 downloads
Have a nice day
  • #235
  • Jun 14, 2020 5:26am Jun 14, 2020 5:26am
Quoting billv
And here is a set file with all the levels of symbol TP disabled. {file}
Thanks!
Whenwould you use that?
  • #236
  • Jun 14, 2020 5:40am Jun 14, 2020 5:40am
Quoting Johannes7
{quote} Thanks! Whenwould you use that?
It is for traders who don't want to use multiple TP types and only want a fixed TP
Have a nice day
  • #237
  • Jun 14, 2020 6:01am Jun 14, 2020 6:01am
Quoting billv
{quote} It is for traders who don't want to use multiple TP types and only want a fixed TP
latest version is 23 ? can you publish the mq4 of this version ? I want to learn how it works. Thank you!
  • #238
  • Jun 14, 2020 6:57am Jun 14, 2020 6:57am
Note to all:
If the EA removes itself from the chart, it could be that your MT4 historical data is missing or incomplete
or that your MT4 currency pair names are different to the standard EURUSD format.

If your broker uses weird currency pair names eg EURUSDi or your special instrument names are different, eg DE30 is GER30
then change the currency names in the EA settings to match.
Do this at the moment of placing the EA to the chart (Before your click OK).
The currency names have to be correct for the EA to be able to calculate the average daily range of a pair.
If you don't want to trade certain currencies you can remove them from the EA settings
Or you can replace some for others Or you can add new ones.

You also need to have the boxes "USE DLL, + ALLOW LIVE TRADING" ticked
If you make a mistake and the EA removes itself from the chart, then close that particular chart,
open a new chart and start again.
Have a nice day
  • #239
  • Jun 14, 2020 7:49am Jun 14, 2020 7:49am
This EA will be in the next level if it can manage more than one added symbols at once.
Without despair & distraught, focus on Patience to FRESH MOTiVES.
  • #240
  • Jun 14, 2020 8:23am Jun 14, 2020 8:23am
Quoting skyf
This EA will be in the next level if it can manage more than one added symbols at once.
Yes, good idea, so the buttons will only work on the chart pair
but the other functions can be universal
Have a nice day
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