Multi-purpose trade management EA | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

BASKET TRADE Management: Using multiple trade management EA's on basket trades 11 replies

Alternative Trade Management/Money Management Methods 3 replies

multi-purpose Stoch Alert 11 replies

Successful Trade Management / Risk Management 0 replies

Trade Multi ECN accounts on Multi Brokers ? 1 reply

Attachments: Multi-purpose trade management EA
Exit Attachments

Multi-purpose trade management EA

  • #81
  • Feb 25, 2009 8:15pm Feb 25, 2009 8:15pm
1. Say I want to set a pending order manually (long or short), for say a 100 pip profit and a 50 pip loss. Once my profit target is reached I want the EA to jump the stop by every 30 pips say. In other words after my target profit is reached my 100 pip profit is protected and I can always win a minimum of 100 pip profit. If this is possible can someone please tell me what the various parameters are that need to be filled in this EA. I am NOT looking for a break even of 0 pips as I am willing to loose 50 pips if the trade goes the wrong way.

Here is an example using a daily candle.

1. The High of the day say is 1.4000.

2. At the time when I actually create the pending order the price say is 1.3940 ie 60 pips below the high.

3. I create a Buy Stop pending order, when and if the high price is reached; for a 100 pip profit (1.4000 +0100 =1.4100).or a a stop loss of 50 pips(1.4000 -0050=1.3950).

4. I would like to create 30 pip jumps of the Take profit only after the 100 pip profit is reached.

5. I am not NOT interested in a break even situation
  • #82
  • Feb 26, 2009 3:29am Feb 26, 2009 3:29am
Quoting Romex
1. Say I want to set a pending order manually (long or short), for say a 100 pip profit and a 50 pip loss. Once my profit target is reached I want the EA to jump the stop by every 30 pips say. In other words after my target profit is reached my 100 pip profit is protected and I can always win a minimum of 100 pip profit. If this is possible can someone please tell me what the various parameters are that need to be filled in this EA. I am NOT looking for a break even of...
Yes, it is. Use the JumpAfterBreakeven feature - read how in the user guide.

  • #83
  • Feb 26, 2009 6:06am Feb 26, 2009 6:06am
Thank you Steve for your prompt response.

Let me tell you what happend, then perhaps you can tell me what I did wrong.

I had set a pending short trade for a 60 pip profit and and a 30 pip stop loss. Also I also set the jumping stop pips to 20.The trade got triggered and the EA closed the trade after a 40 pip profit. the trade went as high as 250 pips profit once the trade was triggered. Why was my take profit curtailed at 40 pips? Here are the settings I made in the EA.

1. Manage this pair only = true
2. Break even = true.
3. Break even profit = 0
4. Jumping Step =true
5. Jumping stop pips = 20
6. Add BEP = true
7. Jump after Break even only= true.
8. The rest of the parameters were set to the default value of FALSE.


Looking forward to your response.
  • #84
  • Feb 27, 2009 1:24pm Feb 27, 2009 1:24pm
Steve,
I have something I want to run by you here.

I am using your Multi purpose trade management ea and I have the following problem.

I have the "Part Close" set to the following from inside the MetaEditor.

PC Enabled= true
b1=------ (no change I don't know what it does anyway_
s1="eurusd"
EU=true;
EUTargetPrice:
EUTargetPips=13;

so I want to take half profit at 13 pips which it does perfectly.
The problem is as price moves back up above this level ( order was a sell) and then back down through the 13 pip level again it takes another half and will continue to do the same over and over if price moves up and down at the target price.

can it be made to only do this one time??

here is the screen shot of what I am talking about.
As you can see the ea first closed 1 lot at the bottom of history , (was a 2 lot sell order) then proceeded to close .50 , .25 , .12 and so on as you move up the list, as price moved up and down at the tp level....

anyway,
I have the ea set to take %50 profit at 13 pips + 2 pip BreakEven Profit
then the Jump stop set to 15 pips + BreakEven Profit.

no other changes.

I am using this on a chart with "Constant Range Bars" , I don't know if that could be having anything to do with this .

any input will be appreciated...
Attached Image (click to enlarge)
Click to Enlarge Name: ss.jpg Size: 212 KB
  • #85
  • Feb 27, 2009 5:24pm Feb 27, 2009 5:24pm
Quoting Romex
Thank you Steve for your prompt response.

Let me tell you what happend, then perhaps you can tell me what I did wrong.

I had set a pending short trade for a 60 pip profit and and a 30 pip stop loss. Also I also set the jumping stop pips to 20.The trade got triggered and the EA closed the trade after a 40 pip profit. the trade went as high as 250 pips profit once the trade was triggered. Why was my take profit curtailed at 40 pips? Here are the settings I made in the EA.

1. Manage this pair only = true
2. Break even = true.
3. Break even profit...
The EA doesn't close trades. It sets stop losses that get hit. That is what happened here. You set the EA to send a stop that got hit. The fact that the market moved hundreds of pips subsequently is of no importance. A jumping stop of 20 will stop out rather quickly.

  • #86
  • Feb 27, 2009 5:26pm Feb 27, 2009 5:26pm
Quoting tommyd
Steve,
I have something I want to run by you here.

I am using your Multi purpose trade management ea and I have the following problem.

I have the "Part Close" set to the following from inside the MetaEditor.

PC Enabled= true
b1=------...
Looks like you are using a very old version. Go back to post 1 and download the latest version. Also, read the user guide. If neither of these solve your problem, then I cannot help.

  • #87
  • Feb 27, 2009 6:34pm Feb 27, 2009 6:34pm
Thank you once again for your quick answer, Steve.

So if the jumping stop pips, as you say, just create SLs that get hit; then how do I set it so that the jumps "do not happen, until my minimum take profit is reached"
  • #88
  • Feb 27, 2009 6:45pm Feb 27, 2009 6:45pm
Quoting Romex
Thank you once again for your quick answer, Steve.

So if the jumping stop pips, as you say, just create SLs that get hit; then how do I set it so that the jumps "do not happen, until my minimum take profit is reached"
The answer to this is in the user guide. I will not answer questions the answers to which can be found there. That is why I wrote it.

I will answer no further questions about this.

  • #89
  • Feb 27, 2009 8:46pm Feb 27, 2009 8:46pm
Quoting SteveHopwood
Looks like you are using a very old version. Go back to post 1 and download the latest version. Also, read the user guide. If neither of these solve your problem, then I cannot help.

you were of course right again, I had an older version loaded.

Downloaded the newer one from 1st post. Although I can't really check it now it looks like it will do just what I need it to do.
Thanks again.
  • #90
  • Mar 1, 2009 1:38pm Mar 1, 2009 1:38pm
I saw your response to my request for an answer. Your Response was. "The answer to this is in the user guide. I will not answer questions the answers to which can be found there. That is why I wrote it."

You must assume that people who ask you a question, are dumb enough not to read your user Guide. It's a pity that you take that attitude, considering what you yourself written in your first post. namely:

"I am a reasonable amateur software writer, play and teach a mean piano but am a rubbish writer, so sorry if any of this fails to make sense."

I have spent hours on your guide, and only because I did not find the answer to what I was looking for.

Anyway, I will not be bothering you anymore. so good luck
  • #91
  • Mar 2, 2009 6:56am Mar 2, 2009 6:56am
I'am using the following settings and getting the above error in the Experts Tab.

Breakeven 25
Breakeven Profit 20
Jumping Stop 5 after Breakeven Profit

everything else disabled.

Would appreciate any suggestions

Thanks
  • #92
  • Mar 2, 2009 7:06am Mar 2, 2009 7:06am
Quoting npmjh
I'am using the following settings and getting the above error in the Experts Tab.

Breakeven 25
Breakeven Profit 20
Jumping Stop 5 after Breakeven Profit

everything else disabled.

Would appreciate any suggestions

Thanks
Most brokers have a minimum distance between stop loss/take profit and the market price. It looks like you are trying to use too tight a stop, so try widening it a bit.

To find out how close your broker will allow you to set the stop, try sending a pending order with your stop gradually increasing until you get to the point where it is allowable.

  • #93
  • Mar 2, 2009 9:44am Mar 2, 2009 9:44am
OrderSend Error 130 — What to Do?

Monday, October 6th, 2008 The expert advisors that work on one broker can stop working on another; the problem with them often lies in OrderSend Error 130. If you see Error 130 in the Log of your MetaTrader platform when your expert advisor should be opening a position, then that means that the stop-loss or take-profit levels are set to close to the current market price. In the MQL documentation this error is called ERR_INVALID_STOPS («Invalid stops»). Some Forex broker set the minimum distance between the current price and the stop-loss/take-profit levels to prevent scalping or abusing the quote delays. That’s not a real problem for the majority of the expert advisors that don’t use scalping. To prevent this error from occurring, you need to change the expert’s code.
First, you might want to know what’s the minimum stoplevel is set in your broker’s MetaTrader server. Adding this line of code will output the current minimum stoplevel for the currency pair of the chart, where you run the EA:
Print(MarketInfo(Symbol(),MODE_STOPLEVEL));
You shouldn’t be using stop-loss or take-profit level, which are closer than MarketInfo(Symbol(),MODE_STOPLEVEL) to the current market price. If your EA calculates stops and take-profits dynamically, this is what I suggest you to do:

  1. Declare a global variable for the minimum StopLevel; e.g.:
    int StopLevel;
  2. In the init() function of your expert advisor define the minimum StopLevel:
    StopLevel = MarketInfo(Symbol(), MODE_STOPLEVEL) + MarketInfo(Symbol(), MODE_SPREAD);
    Note, that adding a spread difference is also required.
  3. The next time your stop-loss or take-profit is calculated, just check them to be not less than StopLevel:
    if (StopLoss < StopLevel) StopLoss = StopLevel;
    if (TakeProfit < StopLevel) TakeProfit = StopLevel;
  4. Don’t forget to refresh the current market rates with RefreshRates() before adding the stop-loss/take-profits levels to the actual market rates.

That should help in the majority of the cases. At least, for me such handling of the OrderSend Error 130 has always worked.




Because I trade 15+ currency's the minimum level would vary, is the above possible to incorporate.


Thanks

  • #94
  • Mar 15, 2009 2:19pm Mar 15, 2009 2:19pm
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
  • #95
  • Mar 15, 2009 6:39pm Mar 15, 2009 6:39pm
Quoting marcone
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
Then use fewer EA's.

How on earth can a trade management EA stop other EA's from entering trades?

The clue to the EA's function comes in its title - Multi Purpose Trade Manager
  • #96
  • Mar 17, 2009 12:11am Mar 17, 2009 12:11am
Is there a way through code to stop EAs executing new trades. I know I can untick allow live trading on the EA. But I was wondering if there is a function I can call to do this.

The reason I ask is I would like to stop the EAs trading once the total profit for the day has been reached.

TIA,
Neil
  • #97
  • Mar 17, 2009 3:27am Mar 17, 2009 3:27am
Quoting neilf75
Is there a way through code to stop EAs executing new trades. I know I can untick allow live trading on the EA. But I was wondering if there is a function I can call to do this.

The reason I ask is I would like to stop the EAs trading once the total profit for the day has been reached.

TIA,
Neil
mtpm cannot do this for you, in case this is what you are asking.

Any trading EA that I write has trade-suspending functionality - this is dead easy to add. Check the file extension for the ea you are using. If it is .mq4 then you have the source code; send me a pm with an email contact, then I can add this for you.

If the extension is .exe then you have the compiled code and I cannot add to this.

  • #98
  • Mar 26, 2009 7:41am Mar 26, 2009 7:41am
Recently I had some loss using this EA. I was using this to Basket Manage trades by Magic number's, and had set to Take profit if total dollars= 12$.

The EA did exactly, but the broker refused closing of profit pair, thus finally ending in loss.

Hence I suggest the following.
Check IsTradeAllowed() function returns TRUE.
THEN
First close + pair and then negative.
The below article has a nice example of how to use
IsTradeAllowed() function returns TRUE.
http://articles.mql4.com/141

Hope this will be implemented as the error I found out will never happen in Demo trades but only in live Practical use.
Thanks for a high utility EA
https://freshnews.top
  • #99
  • Mar 26, 2009 11:01am Mar 26, 2009 11:01am
Cheers ff34. I will look into this.

  • #100
  • Mar 28, 2009 4:42am Mar 28, 2009 4:42am
Quoting ff34
Recently I had some loss using this EA. I was using this to Basket Manage trades by Magic number's, and had set to Take profit if total dollars= 12$.

The EA did exactly, but the broker refused closing of profit pair, thus finally ending in loss.

Hence I suggest the following.
Check...
I am testing it in DEMO too.. I think this problem is due to slippage? Maybe Steve can increase the slippage or let the users decide what slippage to use?

Very Good EA btw Steve
1 trader viewing now