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Multi-purpose trade management EA

  • #221
  • Jul 9, 2009 6:51am Jul 9, 2009 6:51am
Thank you Steve,
In the absence of a "function", could some means be used to close the EA? Is there a way of using the multi purpose trade manager to unslect, the check box under:MetaTrader tools ->Options ->Expert Advisors {Disable Expert Advisors} or even disallow livetrading?

Just seeking to mimic the action a trader would try to perform manually. Just a thought though, you did say that you found none (methods) that could reliably perform the desired task, but I mention the foregoing as possible option (just in case).

Thank you for your sharing.
  • #222
  • Jul 9, 2009 5:58pm Jul 9, 2009 5:58pm
Quoting pathumracled
Thank you Steve,
In the absence of a "function", could some means be used to close the EA?...
None of the things you ask for exist within mql4. If they did, I would have found them before now as I have long wanted them. There is nothing I can do about this.

  • #223
  • Jul 9, 2009 6:45pm Jul 9, 2009 6:45pm
Hi,

Is it possible to hide the expert advisor from the broker, for example ''Kang Gun Relative Strength EA_v1 opened sell for GBPUSD'' or ''Kang Gun Relative Strength EA_v1 places pending orders'' is it possible to hide this?
  • #224
  • Jul 9, 2009 6:49pm Jul 9, 2009 6:49pm
Quoting purley
Hi,

Is it possible to hide the expert advisor from the broker, for example ''Kang Gun Relative Strength EA_v1 opened sell for GBPUSD'' or ''Kang Gun Relative Strength EA_v1 places pending orders'' is it possible to hide this?
Yep, don't use a magic number or comment. The better answer is just to pick a broker that doesn't trade against you. - Hidden or not a broker that slips you, stop hunts and freezes will beat you anyway.
  • #225
  • Jul 9, 2009 7:00pm Jul 9, 2009 7:00pm
Quoting purley
Hi,

Is it possible to hide the expert advisor from the broker, for example ''Kang Gun Relative Strength EA_v1 opened sell for GBPUSD'' or ''Kang Gun Relative Strength EA_v1 places pending orders'' is it possible to hide this?
As Fulltime247 describes it, this is possible. Trouble is, it also hides trades taken out by the EA from itself. This results in chaos.

Most EA's recongise their trades by combining two fields: 1) magic number; 2) trade symbol. If the EA can recognise them, then so can the broker. If the broker cannot because the mn is missing, then neither can the EA.

Fulltime247, purley is not the only individual who would love to find a broker that doesn't trade against him/her - the rest of us would enjoy that as well. I assume you know such a broker. Wouldn't care to share with us, would you?

  • #226
  • Jul 9, 2009 7:42pm Jul 9, 2009 7:42pm
Quoting SteveHopwood
As Fulltime247 describes it, this is possible. Trouble is, it also hides trades taken out by the EA from itself. This results in chaos.

Most EA's recongise their trades by combining two fields: 1) magic number; 2) trade symbol. If the EA can recognise them, then so can the broker. If the broker cannot because the mn is missing, then neither can the EA.

Fulltime247, purley is not the only individual who would love to find a broker that doesn't trade against him/her - the rest of us would enjoy that as well. I assume you know such a broker....
MBTrading, Collective FX and ATC Brokers seem like the best bets these days.
  • #227
  • Jul 10, 2009 2:29am Jul 10, 2009 2:29am
Quoting Fulltime247
MBTrading, Collective FX and ATC Brokers seem like the best bets these days.
Cheers.

  • #228
  • Edited 5:13pm Jul 11, 2009 3:03pm | Edited 5:13pm
Hi Steve nice EA, I was wondering if it is passable to program a way lets say you have a trailing stop at 30 and the market goes against you.

So what if there was an option to close a percentage of the order say at 20+ pips. This way if the trailing stop goes to break even you will get the percentage you input

Just a thought I think it would be a excellent option to have
Thanks
fxtrading24
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #229
  • Jul 11, 2009 5:25pm Jul 11, 2009 5:25pm
Quoting fxtrading24
Hi Steve nice EA i was wondering if it is passable to program a way lets say you have a trailing stop at 30 and the market goes against you.

So what if there was an option to close a percentage of the order say at 20+ pips. This way if the trailing stop goes to break even you will get the percentage you input

Just a thought I think it would be a excellent option to have
Thanks
fxtrading24
Let me think about this. It could allow a trade to ride the wave beyond an arbitrary cut-off point that otherwise closes x% of the trade prematurely.

It could also be used as a fall-back. You decide that when the market reaches x, then close half the position and leave the rest to ride. You get the calculations wrong, and the market doesn't quite reach x before retracing. Your proposed routine would still allow you to take some extra profits before the retrace hits your ts.

Yes, let me think about this. I am promising nothing because this is already a very complicated ea to use, but I will think about it.

  • #230
  • Jul 11, 2009 6:06pm Jul 11, 2009 6:06pm
Quoting SteveHopwood
Let me think about this. It could allow a trade to ride the wave beyond an arbitrary cut-off point that otherwise closes x% of the trade prematurely.

It could also be used as a fall-back. You decide that when the market reaches x, then close half the position and leave the rest to ride. You get the calculations wrong, and the market doesn't quite reach x before retracing. Your proposed routine would still allow you to take some extra profits before the retrace hits your ts.

Yes, let me think about this. I am promising nothing because this is already...
Thanks for your quick response, it would be a great feature to have in the EA. As you know trading forex, ya try to get every pip you can.
Thanks again
fxtrading24
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #231
  • Jul 14, 2009 11:15am Jul 14, 2009 11:15am
Hi Steve,

I'm actively forward testing hedging module with very positive results. Only on EURUSD.

Can you give us an idea regarding the Filter (no touch) settings? If you want to work here or privatey with the tweaking and testing process, feel free to ask

At some point, hedge trades stopped showing up. Is that due to the filter settings?

Also, does the module hedge hedge trades previously opened by the module?

Best regards,
Merlin
  • #232
  • Jul 20, 2009 3:57am Jul 20, 2009 3:57am
steve

your trade manager ea was recommended to me, i read the manual but i still need a little help here.. can you help me with the following conditions;

1) i place 3 equal lots which 2 will close at the first tp and the last at the second tp.
2) e.g first tp is is 200 from entry and second tp is 400 from entry
3) s/l is 200 from entry
4) after first tp is hit, move s/l to break-even

if i set the ea to manage this pair only, does it mean whichever chart the ea is on it will only manage that pair? so if i have two charts of different pairs, the ea will not run into conflict?

much appreciated if you can advice. tks

rgds

clip
  • #233
  • Jul 20, 2009 10:51am Jul 20, 2009 10:51am
Quoting MerlinBrasil
Hi Steve,

I'm actively forward testing hedging module with very positive results. Only on EURUSD.

Can you give us an idea regarding the Filter (no touch) settings? If you want to work here or privatey with the tweaking and testing process, feel free to ask
The user guide needs some updating about this. At the moment, setting UseEnvelopeTrendFilter to true uses an Envelope. If the market is above the envelope, then the trend is up and vice versa for below. Setting UseAdxTrendFilter to true makes the robot look at the ADX indi to determine a trend direction.

If either/both of these are set, then the robot will only hedge an open trade if that trade is clearly in the 'wrong' direction. I do not know how effective this is; I have been basket trading for months, and have no need of this function.

Quote
At some point, hedge trades stopped showing up. Is that due to the filter settings?
If they were set, yes. If not, then I do not know why the ea stopped hedging.

Quote
Also, does the module hedge hedge trades previously opened by the module?
No. The EA finds the word 'hedge' in the comment and takes no further hedging action.

  • #234
  • Jul 20, 2009 10:54am Jul 20, 2009 10:54am
Quoting clipperjunk
steve

your trade manager ea was recommended to me, i read the manual but i still need a little help here.. can you help me with the following conditions;

1) i place 3 equal lots which 2 will close at the first tp and the last at the second tp.
2) e.g first tp is is 200 from entry and second tp is 400 from entry
3) s/l is 200 from entry
4) after first tp is hit, move s/l to break-even

if i set the ea to manage this pair only, does it mean whichever chart the ea is on it will only manage that pair? so if i have two charts of different pairs,...
If you put the EA onto a chart and tell it to manage that pair only, then that is what it will do. On a gj chart, it will manage gj trades; on an eu chart, it will manage eu trades etc.

It will manage all trades in the pair unless you further refine the management criteria.

  • #235
  • Jul 20, 2009 11:00am Jul 20, 2009 11:00am
Tks, answered my questions

Appreciate your work, and I constantly recommend your EA.

Best,
Merlin
  • #236
  • Aug 21, 2009 2:22pm Aug 21, 2009 2:22pm
Hi Steve. I am following Ace's 4HR box breakout system and really like it.

http://www.forexfactory.com/showthre...=1#post2976444

Your trade management EA is extremely useful here but there is one feature I would dearly love to have added which would work for any trend following EA.

The concept of the 4HR box breakout is that the first 4 hours of trading on Sunday defines a high and low of a box. Together with a buffer, above and below the High Low of the first 4 hours, defines the entry points for either long or shorts for the week. If a Long is entered the SL is the lower part of the box etc. TP is usually set at x3 or x4 the actual height of the box.

I prefer using your jumping trailing stop for my exits but here is where I would love another option. Let me give an example.

Lets say the entry is Long. The box size is 150 pips so my entry Stop Loss is 150 pips. Lets say I don't put in a TP but use a Trailing Stop of 100 pips. OK, the market runs on GJ for 300 pips then reverses back down to 200 pips and I am stopped out. I want to put in a Pending Long Order at re-entry point of X pips above my exit so that I am back in the market if it continues back up. I want to get back into the long trend. This is imnportant ..If the market continues down from 200 pips by X pips, I want to move my re-entry point down to my last exit point of 200 pips. Fro example, if X was 25 pips, I would have a pending Long re-entry at 225 pips and as the market moved down, I want my Long re-entry point to move down to my last exit at 200 (pip by pip) and ultimately another say 10 pips to cover commission, spread, slippage etc. and sit there for the rest of the week. I close everything on Friday

If the market continues down, nothing happens and I may ultimately enter a short trade if the market passes through the box. But if the market trends back up, I re-enter and follow the trend up for the rest of the week or until I am SL out again and a new re-entry long pending order is created. Again, everything is closed on Friday and we start a new box on Sunday.

This is similar to Jackos House of Pleasure and Pain on losees but I am applying it to this concept or any trend following concept as a re-entry should the original Long trade contiue up after a reversal that stops me out. Basically, minimize the losses but let the profits run. With this method, I gaurantee to bank at least some of the initial breakout run but also ensure I am in the market for the big trends that GJ can do. That is where the money is.

What do you think.

Dave R.
  • #237
  • Aug 21, 2009 4:14pm Aug 21, 2009 4:14pm
Sorry David. This is to specific a requirement for an already highly complicated general trade manager. You need something designed to cope with your requirements. Mtpm isn't it.

  • #238
  • Aug 22, 2009 2:12am Aug 22, 2009 2:12am
Quoting SteveHopwood
Sorry David. This is to specific a requirement for an already highly complicated general trade manager. You need something designed to cope with your requirements. Mtpm isn't it.

OK Steve. It was worth a try.

Thanks

dr
  • #239
  • Aug 22, 2009 2:38am Aug 22, 2009 2:38am
Steve, this EA has got to be the most useful MT4 code I have ever seen.
Thank you ever so much for sharing it.
  • #240
  • Aug 27, 2009 10:03pm Aug 27, 2009 10:03pm
Steve,

I see that you trade baskets as well. I am looking forward to demoing this (so I can get use to the features) but I also trade groups (or mini baskets) under Trader101's strategy.

Can I use an instance on EJ and use trade by comment to manage the basket. Then open another instance on GJ, use trade by comment and manage the mini-basket or group. There are 3 groups within the basket. Sometimes i trade all 3 groups and the entire basket at the same time. Yes there is obvious redundancy in that I have multiple positions on symbols with different trade comments.

Thanks for the great management tool.

Also, I noticed that the zip file EA is not the same as the standalone file. I had downloaded the zip file and could not find the basket features. I did find the basket features in the standalone file. Not sure if this was intentional or not.
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