I’ve been lurking on this forum and another one for about a month now and have really enjoyed reading up on the various strategies people have posted. These strategies run the gamut on profitability, as does the one I’m posting now.
Borrowing an idea from a contributor before me, this EA seeks to profit by closing the worst losing trade in combination with as many profitable trades as necessary to meet or exceed a predefined profit level. This EA will open trades at set intervals in a predefined direction, up to a maximum set number of trades.
The losing trade must be losing by a certain amount before it will be considered for removal. This is intended to allow trades some breathing room before giving up on them. During testing of this EA, I have noted that losers often pile up faster than winners and that some means should be implemented to help clear those losers faster. I am not a fan of the Martingale strategy, however it’s power also cannot be overlooked. As such, I have provided a volume multiplier that is in effect when the number of losers reaches thresholds of 20%, 40%, 60%, and 80% of max trades. It’s true what they say: if you play with fire you’ll get burned – you’ve been warned! Setting the multiplier to one is far safer. Of course, I made this value available for you to experiment with, so have fun!
Input Parameters:
maxTrades – Maximum number of trades that may be opened at one time.
TakeProfit – The minimum allowable profit point when closing order(s).
Spacing – The price interval between orders placed.
minLoss – The minimum amount a trade must lose before it is considered for removal.
RiskPercent – The percentage of Available Free Margin to allocate per trade.
multiplier – The multiplier used to increase volume settings when losers pile up.
Buyer – True by default, the EA will only place long(buy) orders.
I do not offer any real recommendations on settings – your guess is as good as mine. My only advice would be to look at a long term chart of your favorite pair to determine if it makes sense for the EA to be a Buyer or not.
I’m providing this EA “as is”. Please don’t email me. Use at your own risk. Yadda, yadda, yadda. Good luck, I hope this EA will spark your interest and you’ll come up with a better mousetrap. Please share if you do.
Many pips to you,
Flying Fish
Graph uses default values on GBPUSD starting with $10K.
Start 01/01/07 Stop 10/26/07
Borrowing an idea from a contributor before me, this EA seeks to profit by closing the worst losing trade in combination with as many profitable trades as necessary to meet or exceed a predefined profit level. This EA will open trades at set intervals in a predefined direction, up to a maximum set number of trades.
The losing trade must be losing by a certain amount before it will be considered for removal. This is intended to allow trades some breathing room before giving up on them. During testing of this EA, I have noted that losers often pile up faster than winners and that some means should be implemented to help clear those losers faster. I am not a fan of the Martingale strategy, however it’s power also cannot be overlooked. As such, I have provided a volume multiplier that is in effect when the number of losers reaches thresholds of 20%, 40%, 60%, and 80% of max trades. It’s true what they say: if you play with fire you’ll get burned – you’ve been warned! Setting the multiplier to one is far safer. Of course, I made this value available for you to experiment with, so have fun!
Input Parameters:
maxTrades – Maximum number of trades that may be opened at one time.
TakeProfit – The minimum allowable profit point when closing order(s).
Spacing – The price interval between orders placed.
minLoss – The minimum amount a trade must lose before it is considered for removal.
RiskPercent – The percentage of Available Free Margin to allocate per trade.
multiplier – The multiplier used to increase volume settings when losers pile up.
Buyer – True by default, the EA will only place long(buy) orders.
I do not offer any real recommendations on settings – your guess is as good as mine. My only advice would be to look at a long term chart of your favorite pair to determine if it makes sense for the EA to be a Buyer or not.
I’m providing this EA “as is”. Please don’t email me. Use at your own risk. Yadda, yadda, yadda. Good luck, I hope this EA will spark your interest and you’ll come up with a better mousetrap. Please share if you do.
Many pips to you,
Flying Fish
Graph uses default values on GBPUSD starting with $10K.
Start 01/01/07 Stop 10/26/07
Attached File(s)
Bounty.mq4
6 KB
|
318 downloads
Bounty.ex4
6 KB
|
238 downloads