Stop trading after one loss

First thanks to all guys (dave) to have helped me in coding my EA, I have resolved my Problem.

Now, I'm trying to figure out how to get my EA to sleep or to wait after a single loss.

Can anyone help me with this coding? Have you ideas?

Hola Pepe

I too am looking for something along those lines only in the opposite direction. I want to close an EA after a win with a specific threshold, or a loss, again with a specific threshold. I have a code that works only once then the EA just ignores it for some reason.

Did you have any ideas? Do you write code?

Thanks

Jerry

Something along these lines:


Use this to search for whether the last order was a loss, and submit new orders only if the last order was not a loss.

If instead you want to include a time/sleep condition, you can do something like this (after the history search):

I' m beginner in mql4's programmation, but your idea is like mine instead of i want stop after one loss by day or some days (if EA works well).
For me I think is better because i want a maximum of EA's profit.

Good Davel for your code
Wainting another ideas.

Dave,

Thank you for your reply. I will try your suggestion, but I had code very similar to that and for some reason it only worked once. The only difference I can see is that I tried to limit the scope of the last order by using a date/time (TimeDayofWeek(OrderCloseTime) variable. When I had that in the code would only work once then would be ignored. I will try again without the date/time variable and see what happens.

thank you again for your suggestion.

Sure thing, no problem ... yes, the coding (or something in the same spirit) should work.

Pepe,

I think I figured out how to get your EA to stop after one loss...Did you get your problem solved? Let me know

Jerry

Hi,

As concerned the code "to stop trading after one loss", I have used three differents codes. They are free compiling but they have same problem they don't work. The EA makes one loss but it doesn't stop, I don't understand what's happened?
If the code is free compiling, so they are no errors and normally the EA must stop after one loss and wainting X time.
But in backtest nothing happens ?
Where is the problem?

Pepe

You can use a bool to get you code to stop trading but the bool, like a switch must be turned off and then on again. For example:

bool trade = true;

if (trade)
{
//place your entry criteria here
}

You can then use your "for" loop to watch for a loosing trade then, if one occurs, turn the bool off (false).

for (int hist = OrdersHistoryTotal()-1;hist >=0;hist--)
{
OrderSelect(hist,SELECT_BY_POS,MODE_HISTORY)
{
if OrderSymbol() == Symbol())
{
if (TimeDayofYear(OrderCloseTime()) == TimeDayofYear(TimeCurrent())) //this tells the program to look for only orders that are closed today.
{
if (orderProfit() <= 0)
{
trade = false // No further entries
Comment ("One Loss Rule--TRADING STOPPED");
}
}
}
}
}

This will turn your entry criteria off. But you must then tell it when to turn the entry criteria back on again...or you can just remove the EA and put it back on again the next day. If you want it to trade again in another hour or another 4 hours...you can use the sleep command or you can set up a time shift for each new bar (depending on which chart you trade).

Hope this helps some...or send me an e-mail [email protected] and I'll see if I can help you get your EA going... I got mine to turn off completely after two losses then automatically turn back on the next day. I'm very proud of myself!!