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Manage Take Profit EA

  • #321
  • Oct 22, 2009 1:27pm Oct 22, 2009 1:27pm
Thanks. Anyway to make the Max_Loss value change like a trailing stop? I like hiding my SL from the broker. Upon initial order entry, I will set a large sl value and t/p value, like 100 pips to avoid broker hits and in case of computer failure, but I'd like to have the Max loss move at a closer value.
  • #322
  • Edited 9:51am Oct 23, 2009 9:41am | Edited 9:51am
here's mine
Take .5 lots profit at 30 pips (assuming 1 lot, I want to take 50% of position)
At 30 pips, move stop to breakeven (First_Stop 0)

Disregard second stop numbers.

I think if you have all your other variables it could be your problem. If second stop moves stops to 0 (breakeven) at 0 pips profit, then it will be screwy and kick you out of positions. Try setting them to really high numbers. Same goes with Target increment.
Attached Image
  • #323
  • Dec 6, 2009 3:26am Dec 6, 2009 3:26am
Dear Stockwt.
Is it possible for you to please change your ManageTPv2-4.mq4 a little for me please.
Can you add a trailing stop function after the Second_Stop has occurred.
This will be a user-parameter. Once the trade moves and Second_Stop is executed, the stop would trail by a chosen value.
Please?
  • #324
  • Dec 12, 2009 12:20pm Dec 12, 2009 12:20pm
Thanks for the EA Stockwet, your EA has made my trading so much easier. If a person uses this EA with some strict discipline you can make money every trade, no joke if your (entry is good) this EA can lock in a serious return every week. 327 pips this week. Again many thanks over for sharing it for free.

Roland J
  • #325
  • Dec 12, 2009 6:19pm Dec 12, 2009 6:19pm
Thank you very much for you contribution.
Annoying Precision
  • #326
  • Dec 13, 2009 5:02am Dec 13, 2009 5:02am
Quoting manalive
Thanks for the EA Stockwet, your EA has made my trading so much easier. If a person uses this EA with some strict discipline you can make money every trade, no joke if your (entry is good) this EA can lock in a serious return every week. 327 pips this week. Again many thanks over for sharing it for free.

Roland J
Mate, does this EA has a trailing stop feature, after the Second_stop is completed?

How do you move your stop after the second _stop?
  • #327
  • Dec 14, 2009 6:33pm Dec 14, 2009 6:33pm
Sorry my friend I do not believe you can have it trail. After your second stop it will move your stop loss as far as you want into your trade though. So if you have your first stop at 35pips it will move to break even, now your second stop you can move to say plus another 25pips if your trade moved that far for a total 60 pips behind your entry or whatever number of pips you wish. I hope that helps, I attached a pic of one of my settings for a couple pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: take profit.PNG Size: 71 KB
  • #328
  • Dec 15, 2009 7:41am Dec 15, 2009 7:41am
I realize that a lot of people ask for a trailing stop feature. At one point, I had started to add that feature into MTP. However, I realized that it was a whole lot easier to just use one of the other really great trailing stop experts on another chart of the same currency pair and have it kick in after MTP did it's part. I used that myself and found it a very effective approach.

Someday, I might actually have the time to add in all of these great requests.

Regards,

stockwet
  • #329
  • Dec 16, 2009 3:16am Dec 16, 2009 3:16am
Oh Dear stockwet
Please add the trailing stop loss feature in it.. please. your system will then become the ultimate trade managing EA ever!

I usually miss out on big moves... ahhhh only if we had the trailing stop....
  • #330
  • Dec 17, 2009 9:23am Dec 17, 2009 9:23am
great EA!

hey just checking if im doing something wrong... when I set up first target lets say at +20pips and target increment at another +20.

The EA seems to take profit at +20 then range lets say about 9 pips down and 11 pips up and closes the second lot.

shouldn't it reach first target and from that reached target count the second increment.

lets say i bought 2 lots at 1.4000 closed one lot at 1.4020 and second should close at 1.4040.

but what happens is it enters at 1.4000 closes one lot at 1.4020 and second lot closes maybe at 1.4025 when it should be another +20.

is that how it works or could i be doing something wrong... please let me know. everything else works awesome thx

Thank you!
  • #331
  • Dec 20, 2009 10:03am Dec 20, 2009 10:03am
bump
  • #332
  • Dec 22, 2009 1:21am Dec 22, 2009 1:21am
FiboFX,
Be aware that if you open the EA parameters window and click OK, or you change timeframes or profiles, the EA will be re-initialized and your first TP will be taken again--beyond your first TP, if that's where it re-initialized.
  • #333
  • Dec 23, 2009 11:33am Dec 23, 2009 11:33am
moneybiz,
thank you, i'll check to see if that is what I'm doing.
  • #334
  • Jan 11, 2010 1:40pm Jan 11, 2010 1:40pm
Quoting moneybiz
FiboFX,
Be aware that if you open the EA parameters window and click OK, or you change timeframes or profiles, the EA will be re-initialized and your first TP will be taken again--beyond your first TP, if that's where it re-initialized.
Hi MoneyBiz,

Thanks for the updated version, it works really well. Just a question on the re-initialization, apart from re-attaching the EA, is there any other way to make it work. When I open a trade in a particular currency and take profit or loss, subsequently, I might trade the same currency once again. What happens is the trade is closed immediately for no reason. Have you had such experience? Thanks
  • #335
  • Jan 14, 2010 1:23pm Jan 14, 2010 1:23pm
Hi anyone,

I need a EA that can trigger a trade for me when price retraces to a certain moving average.

Thanks.
  • #336
  • Feb 8, 2010 8:20pm Feb 8, 2010 8:20pm
This is real sad / (About ManageTPv2-4)

I'd though I had found the perfect EA to manage trade (open manually).

After many test, I can affirm that the (SL) feature "Max_Loss" AND the The "BE" feature do not work.

I don't know about the TP but, without the BE and the SL the EA is useless anyways.

The test was made on MT4 with the broker ACM.

Does someone know where I could find a EA that work properly with the exact feature?

Thanks.
  • #337
  • Feb 8, 2010 8:30pm Feb 8, 2010 8:30pm
Quoting vignesh
Hi MoneyBiz,

Thanks for the updated version, it works really well. Just a question on the re-initialization, apart from re-attaching the EA, is there any other way to make it work. When I open a trade in a particular currency and take profit or loss, subsequently, I might trade the same currency once again. What happens is the trade is closed immediately for no reason. Have you had such experience? Thanks
Hi, may I ask what version you use?

Could you please post it here since there's so many?

It would be a real challenge to test it all.

It would be very appreciate.

Thanks!
  • #338
  • Feb 9, 2010 1:40am Feb 9, 2010 1:40am
Im using it with good sucess... v2-4, with fxdd
  • #339
  • Feb 9, 2010 2:48am Feb 9, 2010 2:48am
Quoting Melisky
Hi, may I ask what version you use?

Could you please post it here since there's so many?

It would be a real challenge to test it all.

It would be very appreciate.

Thanks!
No problem, here it is. Please be aware it is the modified version of the original version.
Attached File(s)
File Type: mq4 MTP_1.712.mq4   14 KB | 1,183 downloads
  • #340
  • Feb 10, 2010 1:07am Feb 10, 2010 1:07am
Quoting vignesh
No problem, here it is. Please be aware it is the modified version of the original version.
Thank you very much!

I have two littles questions for you:

1) Do you see the TP and the SL in the terminal of MT4 when using this EA?
2) What's the purpose of the field "close method"?

Thanks
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