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Manage Take Profit EA

  • #281
  • Jul 2, 2008 5:46pm Jul 2, 2008 5:46pm
Quoting nvwine
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.
I've been using this ea for nearly 2 months now and I have the same problem of it taking over/ affecting other trades I may have going on the same currency pair even with magic numbers entered. There is only one other ea that I like for the system I use but I use manage tp over it because the other ea doesn't have any options for moving stops or take profits. I like it because it definitely doesn't affect other trades on the same currency pair.

I hope someone can help on this.
  • #282
  • Jul 2, 2008 5:54pm Jul 2, 2008 5:54pm
Quoting Jankruh
I've been using this ea for nearly 2 months now and I have the same problem of it taking over/ affecting other trades I may have going on the same currency pair even with magic numbers entered. There is only one other ea that I like for the system I use but I use manage tp over it because the other ea doesn't have any options for moving stops or take profits. I like it because it definitely doesn't affect other trades on the same currency pair.

I hope someone can help on this.
I must be incorrect. Sorry.
  • #283
  • Jul 2, 2008 7:31pm Jul 2, 2008 7:31pm
Quoting nvwine
I must be incorrect. Sorry.

Don't be sorry yet. I'm gonna try an experiment tonight if possible since information has been brought to my attention about Manage Tp settings being reset if one changes the time frame on the chart they've placed it on. I'll let you all know how it goes.
  • #284
  • Jul 14, 2008 11:17pm Jul 14, 2008 11:17pm
Hi guys, I've been using manage take profit for a long time, but I've never seen a version for MT3. Does anybody know of such a version, it seems like it's a different script language, I know a little about mt4's script language but mt3 is a mystery.

Could someone please weigh in on how to convert the mt4 version to mt3.
  • #285
  • Jul 18, 2008 4:01pm Jul 18, 2008 4:01pm
...i will try this EA ! thx...
  • #286
  • Sep 9, 2008 11:42am Sep 9, 2008 11:42am
I love this EA...I happen to be running version 1.7 because it allows me to not only have 3 profit targets, but also a trailing stop feature. [if this can be accomplished with version 2.4 then I'm all for switching]. No matter what I do, I am knockd out of trades early by a stop loss that is resetting itself. That tells me that I am creating some kind of conflict with the settings. I'm hoping that I can explain what I am trying to accomplish in hopes that someone can point me in the right direction for the correct setting. Here goes:

I trade 3 positions

Position 1: Profit target 10pips
Position 2: Profit target 20pips
Position 3: Profit target -None- I want this position to run allowing a trailing stop to exit the trade [sometimes I do enter a 30pip profit traget].

**Target Profit Increment - I have no clue what this is so I'm sure I have butchered it with obscure numbers trying to figure it out.

Close Lots: For each profit target I want to close out 1/3 of my total lots traded which is 1.5 lots or .5 per position.

**Close Method: I have no clue what this is so I have left it alone. Could someone explain it to me?

Maximum Loss: 25pips

First Stop Target: When the trade is up 10pips, I want the stop to move 15pips behind the entry.

Second Stop Target: When the trade is up 20pips, I want the stop to move to the entry.

Trailing Stop Loss: At this point the trade is up 20pips, I want to start trailing a 20pip stop loss which covers the exit for the 3rd position.

I'm not sure if I am trying to be too complicated. Any help would be greatly appreciated.

Having fun in Pipville,

Daytrade5
"Amat Victoria Curam" Victory Loves Preparation
  • #287
  • Sep 24, 2008 12:56pm Sep 24, 2008 12:56pm
hi stockwet,

please help. i'd like to add a 2nd target and target increment. also i'd like to add a stop loss, with stop loss increments. could you please make these changes to your ea. thank you.
  • #288
  • Sep 26, 2008 3:30am Sep 26, 2008 3:30am
Hello Great Minds in the forum,

Sincere Greetings to the originator, maker, and contributors to the two great EAs MTP and Swiss Army.

I am looking at a scenario, and will need help concerning my use and combination of SwissArmy Ea and Manage Take Profit Ea.

I want the MTP1.7/2.4 to attach to each pair that i trade, and SwissArmy1.51 to control the terminal in with I trade.

This is what i mean.

Say I trade E/U, G/U and U/J markets,

I attach MTP1.7 or 2.4 to each chart. (I want to know the best settings for this someone) THEN

I open a chart i will not trade and attach SwissArmy Ea to handle all trading in the terminal.

So when I enter trade,

1. Swiss Army will write the MT4 terminal with my TP and SL.

2. Then MTP will take over by managing the trade to take the profit up to the maximum available.

MY Question Now is;

1. Will MTP work when TP and SL values are written and shown on MT4 station. If yes. WHAT will the SETTINGS be?

2. IF NO, how can I go about it?

3. Will I need to use magic number in this setup, If Yes How?

Thanking you for your anticipated support.

Tasty
  • #289
  • Oct 29, 2008 4:44am Oct 29, 2008 4:44am
hi all,
not sure if this thread is still active and supported from the aithor. However i think wiht my settings (minilots) it does not work. Please give a look on the screenshoot. aS you cna understand the position should be already closed... however it didnt close anything in gain.. what's wrong in my settings??
Attached Image (click to enlarge)
Click to Enlarge Name: notwork2.jpg Size: 245 KB
  • #290
  • Edited 1:58pm Jan 6, 2009 1:16pm | Edited 1:58pm
If I open an order with 0.1 lots, will the EA close micro lots like 0.02?

===========

I can't get it to work lol...I run the EA with 3 different magic numbers, open the 3 trades, but the EA attached to each chart only monitors the last trade I opened, so all of them are watchign the same trade and ignoring the other ones...any help?

Thanks
  • #291
  • Jan 7, 2009 1:22pm Jan 7, 2009 1:22pm
Quoting lolpie
If I open an order with 0.1 lots, will the EA close micro lots like 0.02?

===========

I can't get it to work lol...I run the EA with 3 different magic numbers, open the 3 trades, but the EA attached to each chart only monitors the last trade I opened, so all of them are watchign the same trade and ignoring the other ones...any help?

Thanks
Never mind it works fine now, I just set the magic number to 0 for all of them

I love this EA, it saves a lot of time and makes managing trades stress free
  • #292
  • Jan 29, 2009 5:23am Jan 29, 2009 5:23am
Hi guys,

Just trying to learn how this works properly.

I put a demo 0.3 lot trade on and not sure why I didn't get a 0.1 close of my trade - I have attached the settings I have set and also the trade on the chart.

I am running v 2.4 as per advised by the originator of the thread.

What have I set wrong as I thought I should have 0.1 closed at 100 points (well, 10pips - I have changed the settings as Alpari has 6 digit prices now)

Thanks

Willowgal
Attached Image(s) (click to enlarge)
Click to Enlarge Name: manager settings.jpg Size: 36 KB
Click to Enlarge Name: trade manager.gif Size: 72 KB
  • #293
  • Mar 15, 2009 2:18pm Mar 15, 2009 2:18pm
hello

I have a question regarding this EA.
Does it have a function of maximum trades allowed?
I'm using more EA's and i'm afraid that they will enter a trade simultaneously.

Thanks
  • #294
  • Edited 7:51pm Mar 19, 2009 7:16pm | Edited 7:51pm
Anyone still have this? the zip file is corruput now?

Update, never mind found it. For those trying to find this I've attached it as the file on the thread is now invalid I believe.

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...
Attached File(s)
File Type: mq4 MTP_1.7.mq4   11 KB | 1,219 downloads
  • #295
  • Apr 8, 2009 3:03pm Apr 8, 2009 3:03pm
Stockwet... you are a legend!!! Best thing since slice bread... thanks very much!!!

This has help me so much in my trading, it is amazing!

Thanks,
Vip
  • #296
  • Apr 12, 2009 9:05pm Apr 12, 2009 9:05pm
Freeman, I don't thing the ea is equipped to handle 5 decimal pairs. I may be wrong, I have been wrong many times before.
  • #297
  • Apr 13, 2009 3:17am Apr 13, 2009 3:17am
G'day all,

Quoting brooks79
Freeman, I don't thing the ea is equipped to handle 5 decimal pairs. I may be wrong, I have been wrong many times before.
Any chance that one of the more MT4-capable folks here could take a look at this EA and ensure it is compatible with 5 decimal brokers?

Cheers,
Art...
  • #298
  • Apr 14, 2009 8:52am Apr 14, 2009 8:52am
Quoting Artamon
G'day all,


Any chance that one of the more MT4-capable folks here could take a look at this EA and ensure it is compatible with 5 decimal brokers?

Cheers,
Art...

Yes, this EA does work with 5-decimal brokers. But you must add a zero to every pip value.

EXAMPLE: If you want the EA to take profit at 20 pips, then you use "200" as the value. If you want your Max Loss to be 50 pips then you use "500".
  • #299
  • Apr 14, 2009 9:00am Apr 14, 2009 9:00am
I have a question regarding this EA.
It works fine to me setting SL, change SL and

But if I open an order with 0.1 lots the ea dont close at first TP 0.05 lots.

Is the EA able to handle close of micro lots?
  • #300
  • Apr 15, 2009 3:37pm Apr 15, 2009 3:37pm
Quoting elbablaster
I have a question regarding this EA.
It works fine to me setting SL, change SL and

But if I open an order with 0.1 lots the ea dont close at first TP 0.05 lots.

Is the EA able to handle close of micro lots?
Problem solved, Alpari now offers demo trading with mico lots, now it works fine, very nice EA!!
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