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Multi-purpose trade management EA

  • #341
  • Dec 11, 2009 6:21am Dec 11, 2009 6:21am
I'm glad it's working now!

Thanks Steve for the EA.

Jack
  • #342
  • Dec 28, 2009 8:42am Dec 28, 2009 8:42am
Steve,
Wishing you prosperity in the new year. This may already be available in the Trade Manager, if so please point me to the proper setting for it.

If I set hedging to true, It hedges the trade at my selected pip loss level. As it usually happens, if the market turns, my original trade becomes profitable but it's
hedge is now in a loss. In a demo I began to manually place a hedge trade for the hedge itself. The profitability practically shot up.

Suggest to add a feature (user Optional) that also hedges the hedge trade in the same way as it presently does the original trade.

i.e If you add a HedgeTheHedge feature and the user sets it to true; if user selects hedge at say 30 pips, the hedge trades ALSO get hedged continuously at a loss of 30 pips (in the same manner as the original trade).


Cheers
  • #343
  • Jan 2, 2010 9:35am Jan 2, 2010 9:35am
Quoting Sw4xGro
So my queston is -Would it be possible to adapt the EA in either one of two ways, whichever is from coding involves the simplest adjustment;

1. Either make an option on the instantaneous trailing stop loss with a "jumping" stop loss functional variable i.e. stop tightens every X pips (in 5-digit case 1 pip variable would be 10.
I have added the required code - see post 1 for details.

Check this out for me when the markets open on Monday and sing out if it does not work correctly. Do this on demo first as I have not been able to test it.

  • #344
  • Jan 2, 2010 10:05am Jan 2, 2010 10:05am
Quoting watube
Suggest to add a feature (user Optional) that also hedges the hedge trade in the same way as it presently does the original trade.

i.e If you add a HedgeTheHedge feature and the user sets it to true; if user selects hedge at say 30 pips, the hedge trades ALSO get hedged continuously at a loss of 30 pips (in the same manner as the original trade).


Cheers
I have done this - see post 1. The results are unpredictable, given the spaghetti-like state of the code; I still had a lot to learn at the time I started writing the manager.

Play with it on demo for a few days and sing out if it does not work correctly. I am fairly sure that the manager cannot close positions consisting of hedged hedge trades; we shall have to see.

  • #345
  • Jan 2, 2010 1:14pm Jan 2, 2010 1:14pm
Quoting SteveHopwood
I have done this - see post 1. The results are unpredictable, given the spaghetti-like state of the code; I still had a lot to learn at the time I started writing the manager.

Play with it on demo for a few days and sing out if it does not work correctly. I am fairly sure that the manager cannot close positions consisting of hedged hedge trades; we shall have to see.

That was quick Steve. Thanks. Happy new year.
  • #346
  • Jan 16, 2010 11:07am Jan 16, 2010 11:07am
Hello Steve:

I've tested the 5DigitIncrement setting on the Instant Trailing Stop Loss, and can report back that it seems to work fine. The platform apparently reads the increment, and where the current price exceeds the increment interval it will jump the instant trailing stop loss. With 5 digit brokers especially, I've noticed the increment may jump past the desired set increment if the next tick jumps and exceeds the set increment by a fraction, that's how tick mode works, but whether the last digit on the jump is not moved exactly as the jump is set is irrevelant for the use of the function, i.e. the jump step may be slightly greater than the set increment by a fraction. As a suggestion however, I would highly recommend using the Add a Missing Stop Loss function (if you do not otherwise have a platform stop placed), since the 5DigitIncrement stop does not appear to be activated until the first jump increment in the positive direction of the trade is reached, leaving you possibly naked until that time point.

As a note, the 5 DigitIncrement setting is NOT limited in trading application for 5 digit brokers, and it's use for 5 digit brokers is NOT restricted to limiting server based tick-per-tick update load on the instant trailing stop loss. More appropriately it should be seen as a "JumpStop" setting on the Instant Trailing Stop. For example, if your initial stop loss is 50 pips, the "JumpStop" (called 5DigitIncrement setting...) could be used to tighten the stop loss every 10 pips i.e first jump to -40 pips and so forth at further 10 pip steps until breakeven, thereafter other functions can take over trade management. If you ever update your pdf file, you might want to note this possible use as a general jump stop function.

Thanks,
Ron
  • #347
  • Jan 16, 2010 12:14pm Jan 16, 2010 12:14pm
Hello Steve;

As I have used the Multi-purpose trade management EA quite extensively recently, one GREAT addition (at least, for me) would be a BreakEven function under your Global order closure settings. To explain briefly, one could often have open positions with for example a dynamic dollar-long or dollar-short mix of multiple open positions, sometimes adding/pyramiding/subtracting continually to adjust the sum of open positions, thereafter management of the global open portfolio with respect to BreakEven is the desired setting, and where setting individual trades individually to BreakEven is not particularly relevant.

Maybe simpler put, even if you open two trades for one currency, a setting for BreakEven on both positions (global) would be the goal. I believe there could be additional uses, but that's where I could certainly employ it.

So the paramaters could be,

"Global order closure settings" (already exists)

feature new; BreakEven (set to true/false)
feature new; BreakEvenLevel/orTrigger (add dollar amount to trigger/set the break even function)
feature new; BreakEvenProfit (to adjust breakeven from zero or positive i.e. if desired breakeven level is zero dollars or above at "x" dollars)

You basically have these features in your existing Break even settings (non-global), as applied only to each individual trade, but as I've tried to point out, the global parameter has significantly wider application for two or more open positions.

Open for opinions, many thanks,
Ron
  • #348
  • Jan 16, 2010 12:26pm Jan 16, 2010 12:26pm
Ron,

Couldn't you just use the BAsket settings for that purpose. I have used the Basket settings in the past for multiple trades and it worked fine.
  • #349
  • Jan 16, 2010 1:46pm Jan 16, 2010 1:46pm
Thanks Flyer 415;

I see the basket trade management offers BasketAddBEP, and this could function similar to what I would need. Since I do nearly exclusively manual trade entrance, the option to ManageByMagicNumber (one of two requirements for using Basket trade management), would not be available, I think.

Nevertheless, I must further explore the option of ManageByTradeComment. I know with manual trade opening, the Comment window at that time is open, and I could (although at this time I don't) type in a simple comment like "1", or anything else short or quick to type in, just to be recognized subsequently by the Multi-purpose trade management EA basket function. While its one more step on trade entrance, you are right there could be a valid option.

In hectic trading, or where the trade comment field is forgotten or misstyped at entrance, then though the Basket functions would not operate.

In this case, does anyone know, can a Comment be edited (or one entered if left blank) AFTER the trade has been successfully opened, or is this irrevocable?

Or, does anyone know, in MT4 is there an option available for the platform on manual trade entrance to automatically add default Magic Number or default trade Comment as desired?

Especially if one could edit the comment field at discretion, or if I knew of options for default settings, then the Basket management would fulfill my requests instead of Global closure BEP. If its just in the comments, that's okay with me!

Many thanks,
Ron
  • #350
  • Jan 16, 2010 2:10pm Jan 16, 2010 2:10pm
Ron, download the ea's and scripts zip from post 1 here. Inside it are Market Long and Market Short scripts that will send trades with your choice of magic number and trade comment. I wrote these a loooooooong time ago, for use in conjunction with mptm.

If you haven't already done so, invest 30 minutes learning how to personalise them - instructions in post 1 - so you don't have to alter the inputs every time you use them.

  • #351
  • Jan 16, 2010 2:18pm Jan 16, 2010 2:18pm
Thanks Steve, I will take a look at the scripts.

Are the scripts entering trades at the next inputed tick, or can they place true "at the market" orders? The difference is small, but with at the market you don't have to wait for tick movement, whether it moves one way or another.

Ron
  • #352
  • Jan 17, 2010 1:36am Jan 17, 2010 1:36am
Hi
I have the following Trading scenerio.

Breakeven : After market moves 10 pips in my favour.
Break Even profit : 1pip
sell lot .05 at break even.

Sell .05 lots after first 15 pips from price. (i.e 5 pips after break even)

sell .05 lots after price move to another 15pips.
Move SL to +15 pips second time.

I am trying to achieve this using EA.... Is this possible ??

BreakEven: True
BreakEvenPips : 10
BreakEvenProfit: 1
JumpingStop: True
JumpingStopPips: 15
AddBEP: true ( Not sure what this parameter does )
JumpAfterBreakevenOnly: False
PartCloseEnabled: True
Close_Lots: .05


But the problem I am facing is , at the time of First jump, the stop loss is also getting moved 15 pips. But stop loss is already at Break Even + 1 due to break even settings . Hence its resulting in Error.

Can somebody help me in this ?? I want the Stop Loss to be moved only during second jump.
  • #353
  • Jan 18, 2010 4:42am Jan 18, 2010 4:42am
Hi Steve

I use the Missing Stop Loss setting on a 5d ecn broker, I have tried to modify the ea to calculate a Stop Loss based on 3 X ATR(20) 15M timeframe but have failed badly in my attempt.

Would appreciate if you could incorporate in your next update if you can see the benefit for others.

Regards
  • #354
  • Jan 21, 2010 5:07am Jan 21, 2010 5:07am
Hi Steve

The Manager is knocking me out of every manual trade I enter giving the broker the spread, is this something IBFX is doing or have I missed an updated post and have a setting wrong on your new version.
  • #355
  • Jan 21, 2010 5:36am Jan 21, 2010 5:36am
Hello ClearTrade:

Perhaps a remark to be sure, of course the use of values "5", "10" etc. in the Multi-Purpose trade manager EA are not "pip" values for 5-digit brokers, but in this case are 1/10 whole pip values. The situation you have described of having a stop loss variable set such that its value is within the spread, and if the manager works properly as is does here -it closes the trade immediately. Another setting I use, although unlikely your sitiuation, if you set the Shirt Protection to true, and enter for example $0.01, then you essentially have your stop loss (for all your trades without using tradebymagicnumber or tradebycomment) at breakeven, and it would then also immediately close trades at loss just by the entrance spread. Soemtimes I use this when trades have moved postive and I want to set the trades as a group with a stop loss at zero (-1 cent). Ron
  • #356
  • Jan 23, 2010 12:12pm Jan 23, 2010 12:12pm
Steve and everyone involved with this Trademanager EA.....Thank you for your hard work this EA is what I was looking for thank you
  • #357
  • Jan 23, 2010 3:18pm Jan 23, 2010 3:18pm
Quoting Sw4xGro
Hello ClearTrade:

Perhaps a remark to be sure, of course the use of values "5", "10" etc. in the Multi-Purpose trade manager EA are not "pip" values for 5-digit brokers, but in this case are 1/10 whole pip values. The situation you have described of having a stop loss variable set such that its value is within the spread, and if the manager works properly as is does here -it closes the trade immediately. Another setting I use, although unlikely your sitiuation, if you set the Shirt Protection to true, and enter for example $0.01, then you...
Thanks Ron, I'll try it out Monday.
  • #358
  • Jan 28, 2010 4:54am Jan 28, 2010 4:54am
Steve

Great tool!
Could you add a possibility to allow turning of the popup alerts, my vps does not like them much. If it woudl be possible that woudl be great.

Even better, if it could send an email instead of the alert

but just truning off the alert would already excellent

Thanks for the great tool
G
  • #359
  • Jan 28, 2010 3:28pm Jan 28, 2010 3:28pm
Quoting Sw4xGro
Hello Steve:


As a note, the 5 DigitIncrement setting is NOT limited in trading application for 5 digit brokers, and it's use for 5 digit brokers is NOT restricted to limiting server based tick-per-tick update load on the instant trailing stop loss. More appropriately it should be seen as a "JumpStop" setting on the Instant Trailing Stop. For example, if your initial stop loss is 50 pips, the "JumpStop" (called 5DigitIncrement setting...) could be used to tighten the stop loss every 10 pips i.e first jump to -40 pips and so forth at...

Ron,

I like this use of the Instant Trail that you came up with.

Just to confirm a scenario:

I set a Sl of 75 pips (750 as it is a 5 digit broker)
I set ITSL to true
I set ITSPips to 250
I set FiveDigitIncrement to 250
I set STopITSLAfterBE to true


In the above scenario when the trade goes 25 pips in profit then the ITSl jumps up 25 pips to a 50 pip SL. Then at 50 pips in pofit it jumps to a 25 pip Sl and then at 75 pips in profit it is at BE and then it stops jumping.

I have been looking for a "jumping instant trail" and this would solve my issue. My confusion on the set up really is in the two lines that i bolded. I am trying to achieve a 25 pip jump from my initial SL every 25 pips. I think this does it.

Thanks.
  • #360
  • Jan 28, 2010 4:25pm Jan 28, 2010 4:25pm
Quoting forexcobra
Steve

Great tool!
Could you add a possibility to allow turning of the popup alerts, my vps does not like them much. If it woudl be possible that woudl be great.
G
I didn't bother adding a description of the the final input to the user guide because it never occurred to me that it might be necessary. A ShowAlerts input seems a bit obvious to me.

Having said that, there is no guarantee that I remembered to allow for every alert to be cancelled by this setting; some might have snuck through. Try turning it off and post here if any alerts have snuck through.

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