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Attachments: Manage Take Profit EA
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Manage Take Profit EA

  • #241
  • Edited 12:09pm Mar 7, 2008 11:58am | Edited 12:09pm
http://www.forexfactory.com/showpost...93&postcount=1
contactit - are u referring to this version, and if you are do these versions work better? These are two of the earlier Versions, I can tell by the dates of the post. Let us know ... would like to know if this verson is the one that has less problems to use. Thanks so much!






Quoting contactit
Stockwet, thanks for this EA. Been using it for a while and it has certainly earned me and a lot of other people a lot of pips.
I didn't realise the EA I was using was this one.

But I was attracted to this forum because I am looking for a new EA, and I think this used to be the EA I am after.

Let me explain. The EA I have uses an increment to shut fixed lots at regular pip levels. (this is the one I am using now)

It looks like it used to close lots at pre-determined pip levels. (this is the one I want)

Why and when did it change? Is the earlier one still available?

Cheers


NOTE:

Sorry I did not realize this was page 1 URL I left here .....until now .............LOL
  • #242
  • Mar 10, 2008 9:53am Mar 10, 2008 9:53am
Are there any coders out there that ,may be keen to try and fix this EA so that it works properly please?

Thanks
Wayne
KaMpeR
  • #243
  • Mar 12, 2008 1:37pm Mar 12, 2008 1:37pm
Quoting fxkamper
Are there any coders out there that ,may be keen to try and fix this EA so that it works properly please?

Thanks
Wayne
What is wrong with it? I am using V 2-4 from the first page and it seems to work fine......

Question: If I do not want the TP to do anything and just want it to manage stops then can i just put .0 for how much to close at first TP lvl?
  • #244
  • Mar 12, 2008 4:31pm Mar 12, 2008 4:31pm
Does anyone use this EA with any success? I just found it and am running it on about 12 pair. The stoploss seems to work fine... most of the time, not always, but I dont think it has ever yet closed a profit, although price has moved through the TP and went back and usually stopped out at break even. I would really like to have this EA in full working order, so anyone???? If no one comes forward I may look to find a programmer to "fix it", although I'd like to hear from others to see if it works properly for them.

A question I had was, if the fine print in the upper left corner of the screen is not present, although the EA smiley is on... is it not working? Because sometimes the fine print is there, sometimes it's not.

Any feedback appreciated.

Dan
  • #245
  • Mar 13, 2008 4:07am Mar 13, 2008 4:07am
Quoting drumdude
What is wrong with it? I am using V 2-4 from the first page and it seems to work fine......

Question: If I do not want the TP to do anything and just want it to manage stops then can i just put .0 for how much to close at first TP lvl?
I have never been able to get the TS to work, otherwise it seems to work fine?
KaMpeR
  • #246
  • Mar 13, 2008 4:10am Mar 13, 2008 4:10am
Quoting dbeach777
Does anyone use this EA with any success? I just found it and am running it on about 12 pair. The stoploss seems to work fine... most of the time, not always, but I dont think it has ever yet closed a profit, although price has moved through the TP and went back and usually stopped out at break even. I would really like to have this EA in full working order, so anyone???? If no one comes forward I may look to find a programmer to "fix it", although I'd like to hear from others to see if it works properly for them.

A question I had was, if the fine print in the upper left corner of the screen is not present, although the EA smiley is on... is it not working? Because sometimes the fine print is there, sometimes it's not.

Any feedback appreciated.

Dan
Hi Dan

I have noticed the same issue, but then I just remove and reload the EA and then it seems to work fine?
As I said in the post above, I have never managed to get the TS to work, but other than that I did have it working well?
Just check your settings again as per the rules in post #1, the SL settings are really confusing at first until you understand the coders logic, I'm still not sure that I have it correct?
Why everything could not just be calculated based on the opening price is anyone's guess, it would have made understanding the settings so much simpler?

Cheers
Wayne
KaMpeR
  • #247
  • Mar 13, 2008 2:23pm Mar 13, 2008 2:23pm
http://www.forex-tsd.com/ema-cross/925-ema-cross.htm




Quoting merrittb
Hey guys, I think this is a wonderful take profit EA, so i'm trying to attach it to a moving average crossover EA that I would also like to use. This is my first experience with EA's in general, so as you might imagine, it's not working right. Any tips or anything?

In other words, I want this:
Attachment
to make my initial entry decisions.

and this:
Attachment
to make all my exit decisions.

I think this will make a really good system. PLEASE help??
  • #248
  • Mar 19, 2008 4:03pm Mar 19, 2008 4:03pm
Could any of you gents clarify why MTP1.7 takes all the lots at the same time at first TP? I run 4 lots 0.1 each ant want to close three 0.1 each at every TP and run one with the trailing stop. yet, it always closes all four of them at the first TP

PreSet_Name=Default
First_TP=20
Second_TP=0
Third_TP=0
TP_Increment=20
Close_Lots=0.10000000
Close_Method=1
First_Stop_Target=20
First_Stop=1
Second_Stop_Target=40
Second_Stop=20
Third_Stop_Target=60
Third_Stop=30
Trail_Stop_By=30
Max_Loss=40
Alert_Sound=0
Alert_Email=0
Magic_Number=0
Attached Image (click to enlarge)
Click to Enlarge Name: MTP.jpg Size: 379 KB
  • #249
  • Mar 25, 2008 10:32am Mar 25, 2008 10:32am
Hi all,

Sorry for the simplistic question but are any further indicators required to be placed onto chart for it to function ?

Thanks in advance.
  • #250
  • Mar 25, 2008 12:13pm Mar 25, 2008 12:13pm
This EA works well for me, and closes take profit targets as it's supposed to, based on my settings.

Maybe I didnt understand the issue, but for the EA to take profits at 4 different places, the initial entry must be at least .4 lots, so that .1 ,lot, the lowest setting, can be closed, per profit target. You don't make 4 entries (buy or sell) at .10 each... Not sure if this corrects your problem or not.

If you change time frames on the chart, while EA is running, it will reset it'self, and as an example, take TP2, if TP1 has already been taken, and TP2 is as high or higher then TP1 setting... as it doesnt know TP1 has been taken.. bottom line, for this EA to work, you need to leave the time frame where it is... you can check other time frames on a new window that doesnt have the EA running


Quoting jasius
Could any of you gents clarify why MTP1.7 takes all the lots at the same time at first TP? I run 4 lots 0.1 each ant want to close three 0.1 each at every TP and run one with the trailing stop. yet, it always closes all four of them at the first TP
  • #251
  • Mar 25, 2008 12:15pm Mar 25, 2008 12:15pm
No...


Quoting nightpipper
Hi all,

Sorry for the simplistic question but are any further indicators required to be placed onto chart for it to function ?

Thanks in advance.
  • #252
  • Mar 28, 2008 3:04pm Mar 28, 2008 3:04pm
Hi All,

I use the ManageTPv2-4 without any problems. I attached the EA on a 5 mins chart that has no other indicators at all. A basic candle chart that is only used to attached the EA too. I use other charts for my other indicators, etc.

The EA works fine at taking profits for me. Let us say you have the following:

First Target = 20
Target Increments = 10
Close Lots = .02

When you enter a trade, lets say .10 lots. This is telling the EA that when you are +20 pips in profit take .01 lots profit and for every additional 10 pips in profit take another .02 lots.

Entry = 1.5110 E/U (.10 lots)

At 1.5130 the EA will close .02 lots
At 1.5140 the EA will close .02 lots
At 1.5150 the EA will close .02 lots
At 1.5160 the EA will close .02 lots
At 1.5170 the EA will close .02 lots ßclosing out my entire position.

You should look at the targets for taking profit complete separate from the stops.


Stop Targets:

I have learned that you must set your Second Stop higher than your First Stop Target.

Example:

Entry = 1.5110 E/U

First Stop Target 20
First Stop 1

Second Stop Target 40
Second Stop 10

In this scenario, if price moves to 1.5130 (First Stop Target), which is 20 pips above your entry the EA will place a stop +1 above your entry at 1.5111 (First Stop).

If price continues to move and hits 1.5150 (Second Stop Target), which is 40 pips above your entry the EA will place a stop +10 above your entry at 1.5120 (Second Stop).

The problem here is, if price moves back against you it will hit the price of 1.5130 (First Stop Target), before hitting your Second Stop level. This will reset your stop back to your initial stop of +1 (First Stop) above your entry. Remember this EA is working based on the entry price and not the changes in prices based on your stop moving around.

To prevent this and to have the Second Stop actually work, the Second Stop will have to be above your first Stop Target of 20.

Example:

Using the same settings with the second stop changed to be +1 above your First Stop Target.

Entry = 1.5110 E/U

First Stop Target 20
First Stop 1

Second Stop Target 40
Second Stop 21

In this scenario, if price moves to 1.5130 (First Stop Target), which is 20 pips above your entry the EA will place a stop +1 above your entry at 1.5111 (First Stop).

If price continues to move and hits 1.5150 (Second Stop Target), which is 40 pips above your entry the EA will place a stop +21 above your entry at 1.5131 (Second Stop).

When price moves back against you it will hit 1.5131, which is your Second Stop and close you out plus +21 pips. This prevents price from reaching the First Stop Target of 20, which is really 1.5130.

I hope this helps explain this a little more.
  • #253
  • Mar 28, 2008 6:26pm Mar 28, 2008 6:26pm
Hi, Jumpmanz5

Thank you for a great 'down to earth' explanation over how to use this EA. For some season the authors never seem to talk the same english language
when producing their Ea's . If they all explained simply from day one as you have, we would'nt have half the questions . Thanks again will try out over the following days . The only trouble is that you mentioned a few threads back that it has a few problems mmmmm may be i will wait for the next trouble free version.
Quoting jumpmanz5
Hi All,

I use the ManageTPv2-4 without any problems. I attached the EA on a 5 mins chart that has no other indicators at all. A basic candle chart that is only used to attached the EA too. I use other charts for my other indicators, etc.

The EA works fine at taking profits for me. Let us say you have the following:

First Target = 20
Target Increments = 10
Close Lots = .02

When you enter a trade, lets say .10 lots. This is telling the EA that when you are +20 pips in profit take .01 lots profit and for every additional 10 pips in profit take another .02 lots.

Entry = 1.5110 E/U (.10 lots)

At 1.5130 the EA will close .02 lots
At 1.5140 the EA will close .02 lots
At 1.5150 the EA will close .02 lots
At 1.5160 the EA will close .02 lots
At 1.5170 the EA will close .02 lots ßclosing out my entire position.

You should look at the targets for taking profit complete separate from the stops.


Stop Targets:

I have learned that you must set your Second Stop higher than your First Stop Target.

Example:

Entry = 1.5110 E/U

First Stop Target 20
First Stop 1

Second Stop Target 40
Second Stop 10

In this scenario, if price moves to 1.5130 (First Stop Target), which is 20 pips above your entry the EA will place a stop +1 above your entry at 1.5111 (First Stop).

If price continues to move and hits 1.5150 (Second Stop Target), which is 40 pips above your entry the EA will place a stop +10 above your entry at 1.5120 (Second Stop).

The problem here is, if price moves back against you it will hit the price of 1.5130 (First Stop Target), before hitting your Second Stop level. This will reset your stop back to your initial stop of +1 (First Stop) above your entry. Remember this EA is working based on the entry price and not the changes in prices based on your stop moving around.

To prevent this and to have the Second Stop actually work, the Second Stop will have to be above your first Stop Target of 20.

Example:

Using the same settings with the second stop changed to be +1 above your First Stop Target.

Entry = 1.5110 E/U

First Stop Target 20
First Stop 1

Second Stop Target 40
Second Stop 21

In this scenario, if price moves to 1.5130 (First Stop Target), which is 20 pips above your entry the EA will place a stop +1 above your entry at 1.5111 (First Stop).

If price continues to move and hits 1.5150 (Second Stop Target), which is 40 pips above your entry the EA will place a stop +21 above your entry at 1.5131 (Second Stop).

When price moves back against you it will hit 1.5131, which is your Second Stop and close you out plus +21 pips. This prevents price from reaching the First Stop Target of 20, which is really 1.5130.

I hope this helps explain this a little more.
  • #254
  • Apr 1, 2008 5:46pm Apr 1, 2008 5:46pm
Not a prob nightpipper... I hope the explaination works for you.

I will have to go back and look at my previous post to see what problems I was referring too.

I can say that I have been successful at using the EA for quite some time now. I use the EA about 90% of the time and usually don't have any issue when I need to be away from my computer (work).

I do end up with trades being stopped +1, but do end up with a good amount of trades hitting my targets. So I'm happy with it.

Gives me a little peace of mind at times.



Quoting nightpipper
Hi, Jumpmanz5

Thank you for a great 'down to earth' explanation over how to use this EA. For some season the authors never seem to talk the same english language
when producing their Ea's . If they all explained simply from day one as you have, we would'nt have half the questions . Thanks again will try out over the following days . The only trouble is that you mentioned a few threads back that it has a few problems mmmmm may be i will wait for the next trouble free version.
  • #255
  • Apr 8, 2008 10:25pm Apr 8, 2008 10:25pm
Hi Jump
what would be the initial Stop Loss? I dont see where to set it.
I set the first stop target=0 and first stop=-80
I dono whether this is to say the first SL would be -80?
cheers

IM
Quoting jumpmanz5
Hi All,

I use the ManageTPv2-4 without any problems. I attached the EA on a 5 mins chart that has no other indicators at all. A basic candle chart that is only used to attached the EA too. I use other charts for my other indicators, etc.

The EA works fine at taking profits for me. Let us say you have the following:

First Target = 20
Target Increments = 10
Close Lots = .02

When you enter a trade, lets say .10 lots. This is telling the EA that when you are +20 pips in profit take .01 lots profit and for every additional 10 pips in profit take another .02 lots.

Entry = 1.5110 E/U (.10 lots)

At 1.5130 the EA will close .02 lots
At 1.5140 the EA will close .02 lots
At 1.5150 the EA will close .02 lots
At 1.5160 the EA will close .02 lots
At 1.5170 the EA will close .02 lots ßclosing out my entire position.

You should look at the targets for taking profit complete separate from the stops.


Stop Targets:

I have learned that you must set your Second Stop higher than your First Stop Target.

Example:

Entry = 1.5110 E/U

First Stop Target 20
First Stop 1

Second Stop Target 40
Second Stop 10

In this scenario, if price moves to 1.5130 (First Stop Target), which is 20 pips above your entry the EA will place a stop +1 above your entry at 1.5111 (First Stop).

If price continues to move and hits 1.5150 (Second Stop Target), which is 40 pips above your entry the EA will place a stop +10 above your entry at 1.5120 (Second Stop).

The problem here is, if price moves back against you it will hit the price of 1.5130 (First Stop Target), before hitting your Second Stop level. This will reset your stop back to your initial stop of +1 (First Stop) above your entry. Remember this EA is working based on the entry price and not the changes in prices based on your stop moving around.

To prevent this and to have the Second Stop actually work, the Second Stop will have to be above your first Stop Target of 20.

Example:

Using the same settings with the second stop changed to be +1 above your First Stop Target.

Entry = 1.5110 E/U

First Stop Target 20
First Stop 1

Second Stop Target 40
Second Stop 21

In this scenario, if price moves to 1.5130 (First Stop Target), which is 20 pips above your entry the EA will place a stop +1 above your entry at 1.5111 (First Stop).

If price continues to move and hits 1.5150 (Second Stop Target), which is 40 pips above your entry the EA will place a stop +21 above your entry at 1.5131 (Second Stop).

When price moves back against you it will hit 1.5131, which is your Second Stop and close you out plus +21 pips. This prevents price from reaching the First Stop Target of 20, which is really 1.5130.

I hope this helps explain this a little more.
  • #256
  • Apr 8, 2008 10:36pm Apr 8, 2008 10:36pm
Quoting IMsaying
Hi Jump
what would be the initial Stop Loss? I dont see where to set it.
I set the first stop target=0 and first stop=-80
I dono whether this is to say the first SL would be -80?
cheers

IM
To set the initial SL, scroll all the way to the bottom and set "Use_Max_Loss"= true and Max_Loss=80
  • #257
  • Apr 9, 2008 6:27am Apr 9, 2008 6:27am
I hope you're not referring to me in this post. I'm not sure how much more clear I can get than I did in the FIRST post where I described each parameter, how it is used, and provided an example scenario with a screenshot of parameters. If you don't understand the first post and how to use the EA, I can't help you. As far as I can tell, my English skills are better than most.

I'm noticing that when people are posting complaints about the EA not working, they are not describing which EA. Version 2.4 is well tested and used successfully by hundreds of traders. If you're having problems, it would help to identify which version you are using. There are a number of derivative versions that were not created by me.

Quoting nightpipper
Hi, Jumpmanz5

Thank you for a great 'down to earth' explanation over how to use this EA. For some season the authors never seem to talk the same english language
when producing their Ea's . If they all explained simply from day one as you have, we would'nt have half the questions . Thanks again will try out over the following days . The only trouble is that you mentioned a few threads back that it has a few problems mmmmm may be i will wait for the next trouble free version.
  • #258
  • Apr 10, 2008 12:59pm Apr 10, 2008 12:59pm
Hi Stockwet,

I did not mean to disrespect your detailed instructions of your EA. What i was trying to say is that for a relative new-comer to Forex / Ea's the wording can be quite confusing. To someone more intelligent and experienced than myself , you would probably find they had no problems in reading it.
I will be trying your EA tonight on a demo and look forward to its results(As its the ideal solution for my type of trading). Can you tell me if this is the latest EA available ? as I have seen a Manage_TPv3.5 on my travels .

Thanks

Nightpipper




Quoting stockwet
I hope you're not referring to me in this post. I'm not sure how much more clear I can get than I did in the FIRST post where I described each parameter, how it is used, and provided an example scenario with a screenshot of parameters. If you don't understand the first post and how to use the EA, I can't help you. As far as I can tell, my English skills are better than most.

I'm noticing that when people are posting complaints about the EA not working, they are not describing which EA. Version 2.4 is well tested and used successfully by hundreds of traders. If you're having problems, it would help to identify which version you are using. There are a number of derivative versions that were not created by me.
  • #259
  • Apr 11, 2008 6:11am Apr 11, 2008 6:11am
2.4 is the last version that I did. I don't know about 3.5. It doesn't mean that it's bad, but, I'm finding that a lot of these derivative EA's introduce both new bugs and new features - not all of them, some of them.

I did write the instructions with an expectation that someone is familiar with EA's. I assume that one wouldn't be using such an advanced feature as automatic trading without having a real understanding of how EA's work generally in MT4.

Quoting nightpipper
Hi Stockwet,

I did not mean to disrespect your detailed instructions of your EA. What i was trying to say is that for a relative new-comer to Forex / Ea's the wording can be quite confusing. To someone more intelligent and experienced than myself , you would probably find they had no problems in reading it.
I will be trying your EA tonight on a demo and look forward to its results(As its the ideal solution for my type of trading). Can you tell me if this is the latest EA available ? as I have seen a Manage_TPv3.5 on my travels .

Thanks

Nightpipper
  • #260
  • Apr 11, 2008 6:01pm Apr 11, 2008 6:01pm
Hi Stockwet ,

Thanks for your message. But please understand that a novice has to start testing EA's at some point via A demo account, and yours seems a good starting point

Nightpipper.

Quoting stockwet
2.4 is the last version that I did. I don't know about 3.5. It doesn't mean that it's bad, but, I'm finding that a lot of these derivative EA's introduce both new bugs and new features - not all of them, some of them.

I did write the instructions with an expectation that someone is familiar with EA's. I assume that one wouldn't be using such an advanced feature as automatic trading without having a real understanding of how EA's work generally in MT4.
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