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Manage Take Profit EA

  • #261
  • Apr 15, 2008 6:41pm Apr 15, 2008 6:41pm
All,

Just thought I would pass on my own thoughts in regards to this EA. I believe Stockwet has really created an unbeatable EA with ManageTP.

I know a lot of traders are looking to this EA and other managing EAs. I was one of those people and always came back to this EA, as I feel it’s the easy to understand and implement.

A lot of folks new and old to FX and EAs are searching for trading systems to rack in the PIPs or manage their trades in that very special way.

If I may suggest, don’t look for that super spectacular managing EA that is tweaked just right so that your trailing stops, hard stops, and everything in between works exactly how you want them too. But take a great EA and create a trade management style around IT.
If you’re not programmer and developing your own EA, you are probably not going to find what you are looking for.

For me, what I have found works best is to use Stock’s EA, set an initial TP of 15 or 20 pips (closes small percent of trade for profit), regardless of what my ultimate TP might be and let the EA set a SL of +1.

From there depending on the pair, I use 20, 25, 30, and so on for TP intervals until my trade is completely closed. Sure I have a lot that close with a +1, but the home runs come here and there, which is better than trying to hit one every time. At least is very consistent.

Year to date: 259 total trades and 25 losers… with the losses because I didn’t follow my own money management rules.

Just my thoughts!!
  • #262
  • Apr 18, 2008 10:38am Apr 18, 2008 10:38am
is it possible, to get this tool with the possibility to control 5 positions ? if this exist, please guide me to where it is posted... thank you and sorry for my bad english

regards

sten
  • #263
  • Apr 23, 2008 5:03am Apr 23, 2008 5:03am
Hi Stock,
Found you EA couple days ago...really turned me around.
Great stuff. All who use it owe you big time
Many thanks for sharing.
  • #264
  • Apr 24, 2008 12:37am Apr 24, 2008 12:37am
trying it out!! thx

sonic
  • #265
  • Apr 27, 2008 8:19am Apr 27, 2008 8:19am
Hi Stock,

Thanks for sharing..will try it out
  • #266
  • Apr 29, 2008 1:57pm Apr 29, 2008 1:57pm
Hi to everbody

New guy here and im having problems with this ea i set it up to tp at +15 pips and incriminted the closes every 10 pips but when it happens my ea just keeps getting this

2008.04.29 13:12:12 ManageTPv2-4 USDJPY,M30: Error closing order : 4109


any help would be appreciated
Future forex guru
  • #267
  • May 1, 2008 11:14am May 1, 2008 11:14am
for helping all of us ....by your sharing!
  • #268
  • May 3, 2008 1:14am May 3, 2008 1:14am
Hi Stockwet,

thank you for sharing your EA!
I will try to implement it into my trading ASAP!

But I have a question please......
Is the EA able to trial from the start?
I mean as soon as there is a positive move?

Thanks

Cyborg
  • #269
  • May 3, 2008 5:40am May 3, 2008 5:40am
Hi Stockwet,

First off, thank you for sharing your EA. I am a rookie and new to the forum and about to down load your EA. I was wondering that the file ManageTPv2-4.mq4 is the most recent with the bug fixed on pending order.

Your attention is highly appreciated.
DVCK
  • #270
  • May 3, 2008 6:04am May 3, 2008 6:04am
Hi Stockwet,

Nevermind my previous question. I did read one of your answer and you said that ManageTPv2-4.mq4 is the most lasted one. I am excited to take this for a drive. This is exactly what i've been looking for.
Thank you, Thank you, thank you.
DVCK
  • #271
  • May 7, 2008 5:40am May 7, 2008 5:40am
Hi,

there is a manage take profit also for MT3 ?

thks
  • #272
  • May 17, 2008 11:55pm May 17, 2008 11:55pm
Quoting moneybiz
I've modified MTP to add 2 more fixed TP targets. The TP Target Increment will kick in after the last non zero TP Target. I've also added a second method of closing lots, which increments the lots closed at each TP by the original Close_Lots number. I've removed the boolean (true/false) Input fields, Move_Stops and Use_Max_Loss (MTP is psychic!). If you have saved Pre-Sets, you'll probably need to revise and re-save them. Read the .doc file!!!

This EA now does everything I need it to do, so I hereby declare it mature. I don't intend to do any more enhancements. It already borders on being too cluttered now. If someone finds a bug, I'll try to fix that, otherwise . . .

The following files are in the .zip file

MTP_1.7.mq4 ............. The MTP source file
MTP Advisor4FF.doc .... A "how to use" document file
MTP Read Me.txt ......... A version history file
mtp1.wav .................. An alert sound file
mtp2.wav .................. An alert sound file
mtp3.wav .................. An alert sound file
-----------------------------------------

Hi,

Can you please reattach latest MTP latest zip file is not downloadable.

Thx
  • #273
  • May 18, 2008 11:45am May 18, 2008 11:45am
I have been using this simple EA This closes all positions automatically with a predetermined profit.I have to put this on only one chart.I just want to be able to have stop loss, in other words close position on all charts automatically if account goes negative.can some one here help me.I have the Ea below.
Attached File(s)
File Type: ex4 CloseTrades_After_Account_Profit_Reached.ex4   2 KB | 1,136 downloads
  • #274
  • May 23, 2008 10:57am May 23, 2008 10:57am
Do you know what is this error

15:53:07 ManageTPv2-4 USDJPY,H4: moveStops called 10964785 0
15:53:07 ManageTPv2-4 USDJPY,H4: Error closing order : 129

It was trying to close 0.5 outta 1.0 opened lot.

Edit ; using v24
Meeeooow !!!
  • #275
  • Jun 5, 2008 8:49pm Jun 5, 2008 8:49pm
Just wanted to say thanks to who ever wrote this EA, it's freaking awsome!!!! I love it it have been using it for a couple of months. Thanks so much!!! This has made my life about a million times easier!
  • #276
  • Jul 2, 2008 3:43pm Jul 2, 2008 3:43pm
I've been searching for the proper place to ask this question within FF, but since it involves the manageTP 2.4 EA, I will ask it here and hopefully someone can help out....

I've been using manageTP v2.4 for taking profits on a particular system that I've been using and my trading in general... I like that it can take profits and close lots at pip levels of my choosing. I've capitalized on nice profits without having to be consistently glued to the screen once I place my orders.

However, I've noticed one MAJOR thing (and I am not sure if this is a manageTP issue or an overall EA issue, hence the question)....

I have been adding a couple of strategies to the trading tool kit recently... one in particular that requires an EA to enter into the trade because of the nature of the conditions required for entry. Well, last night, I noticed that the other EA doesn't have a stop loss and it should have kept going but it was stopped out because I had a seperate chart of that same currency pair with manageTP on it. It took the profit at the highest point, which is fine, but I am concerned with the interference because this trade could have gone bad!

On another system (scalping) that I have since kind of put on the back burner for this very issue... again manageTP was taking over those trades. This time a manual entry, but a different EA closes it because of the small TP and quick exit. It was suggested that I try magic comments and magic numbers to differentiate the trades which was fine for the other EA, but something in manageTP wants to manage ALL trades of that particular currency pair even if its on a seperate chart.

Sure, I could remove it when its not needed, but again, if I do put it on and my other system kicks in, I run into the problems....

So, given these experiences, I am trying to understand if this is a code issue or an issue of a tendency for EAs to not work well together. Someone asked this question before in this thread and didn't get an answer, so I'm asking again with more details.....

Is there a resolution on the issue of conflicting EAs?? Does some solution or different EA exist already?? If not, can someone code something to resolve the issue?

I don't believe I am the only one who has ran into this....

Thanks in advance to all whom reply...

Fox
  • #277
  • Jul 2, 2008 5:06pm Jul 2, 2008 5:06pm
Yes, if your management EA is not checking specific magic numbers of the orders, it will apply its management rules to all orders in your account (or of the same pair as the chart on which it is applied, depending on how the management EA is coded).

Yes, conflicts can occur if more than one EA is requesting trading priviledges (open, close, delete, modify) at the same time. (MT4's trading thread is singular.) If you're running more than 1 EA at a time, you should use a trading request management routine, such as a semaphore.
Dave
  • #278
  • Jul 2, 2008 5:14pm Jul 2, 2008 5:14pm
Dave,

Thanks for the reply! I'm not a coder, so is there a place to get a semaphore?

Fox
  • #279
  • Jul 2, 2008 5:18pm Jul 2, 2008 5:18pm
When you use the 'manage take profit' EA do you enter the magic number for the trade you want it to manage. I never had the problem you describe although it has been a year since I used it. As long as you enter your manual trades with a script that assigns a unique magic number and you use that same number for the EA the TP EA should not close the wrong orders.
  • #280
  • Jul 2, 2008 5:34pm Jul 2, 2008 5:34pm
Quoting businessfox
Dave,

Thanks for the reply! I'm not a coder, so is there a place to get a semaphore?

Fox
A semaphore routine needs global variable setup, so there's some prep work involved when adding it to an EA.

But you can achieve the same thing by using the trading priviledge functions.
For example, instead of just using OrderSend(...), do this instead:

Inserted Code
bool attempt=true;
while(attempt)
{ 
 if(IsTradeAllowed())
 { 
  if(OrderSend(...)<0) 
  {
   Sleep(500);
   RefreshRates();
  }
  else
  {
   attempt=false;
  }
 }
}

Do this for all your trading-type commands (send, close, modify, delete). The spirit of the idea is to have the EA check whether trading priviledges are available, and if not, to wait its turn. Also to be more robust, an error check should be included to allow the routine to break out of the while condition if the error is irreparable (e.g. trying to modify an order which does not exist). Otherwise, your EA will get stuck in the while condition forever and experience lock-up if it can't perform the desired trading function.
Dave
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