Multi-purpose trade management EA

Is it possible to close all trades of a pair when opening a new trade in opposite direction? Can anybody help me with a code?

Thanks

- Sukhen

Flyer415:

For an Instantaneous Trailing Stop Loss at -75 pips, in your case you would set in InstantTrailingStopPips the value 750 (75 pips). Then the instant trailing stop starts at -75 (you have set an add a missing stop loss at -75 pips anyway I presume). When 5 DigitIncrement (the JumpStep) is set to 250, then yes you have your correct first jump to -50 pips (moves stop loss from -75 to -50, trigger is price advance of positive 25 pips), second jump would be to -25 pips triggered on your trade hitting +50 pips profit, and there would be no last jump if you otherwise use a BreakEven setting separately at zero, which brings your trade to breakeven. Test though on demo with tighter settings e.g. -10 pips with 2 pips jump and follow the stop loss movement real-time for a while to confirm the functionality.
Ron

Hello sukhen:

Yes and no with the trade manager. I have sometimes used what I call "Immediate Gobal Exit" to exit fast all open positions using this EA. For this the parameters could be (without magicnumber or tradebycomment trading set) -set Global Profit to true, and enter 1 cent (0.01), also in the same EA set Shirt Protection to 1 cent (0.01). I have had this EA saved as a template, the template called "Immediate Golbal Exit", placing the template for application for a fast second or two on a chart (a quick procedure when one gets the knack of it), it will close globally all trades, long or short, all currencies and whether in profit or not. This is extreme, but it clears your trades basically on the next tick. You could also tell the Global Profit to also close all open pending orders, then you have your trading platform cleaned out and you can safely head out to the pub...

In your case, you could want to be more selective in the settings. For example: Set EA for global closure to Exit Long Positions Only, or the opposite. Then globally, all longs would be closed, leaving you free to open any shorts that the EA won't interfere with. More probably, as I often do, that would be to use the Global Profit and Shirt Protection features obviously separately and not together. Warning! Using such templates/EAs mandates that you turn off/swith the template/EA off after use, you don't want immediate global closure on you next favorite trade entrance!

These types of special use trade mangager EA settings, I use often, importantly I have them saved as appropriately named distinct templates, and EA activation is via calling up the appropriate saved template onto the/a chart. When the EA has executed, the template goes manually back to default (no EA), and the next exit manager is activated only considering the needs of the next open trade(s) management.

See what you can do with these variables, so yes through one route you can globally exit all longs, and enter shorts as you wish. It's a matter of EA use and acclimation which should satisfy ones needs.

Other than these suggestions though, no, this trade manager unfortunately can't do directly what you wish with immediatly closing all longs, triggered only by the entrance of one short.
Ron

Ron,

Thanks. It was the Instantaneous Trailing Stop Loss value that I was unsure of. I will test it with very tight settings as you suggest.

BTW, great idea.

A contributor has just highlighted a problem. Even with ea's turned off, changing time frames on a chart with mtpm loaded will fire the ea's functions once - for the coders, there was a call to start() from within init(0) to get the screen display up and running quickly.

If you never change tf's on a chart with mtpm running and ea's turned off, you don't need the fix in post 1. If you do, then you need the fix.

Hi Steve,

THis is a really good Trade Manager... Thanks!

I have a question... Is there a way to set this trade manager to close a basket of trades at say $100 profit but not close a seperate trade that was not included in the basket on a completely different pair than what is in the basket? I have experimented with several different settings trying to make this work but to no avail... SO, I figured I would ask for some GREATLY appreciated help!

thanks,
David

Hi steve,

thanks for your amazing EA! i have a question about the break even function.
you see, i was searching for a break even EA that will move my stop lose to profit when the price reached certain level. For example, i wan the EA to move my stop lose to +2 profit pip when the price is in +8 pips. However after download and read your EA and tested, it seems like the EA automatically close my trade when my order once it reached +2 pips. =(

may i know what is the correct setting ?
Breakeven = true
BreakevenPips = 8
Breakevenprofit = 2
(above are my setting for your ea)

Thank you!

Sorry for my poor english =x

is it possible to add ATR based SL/ SL factor and TP /TP factor?
is there any version of Multi-purpose trade management ea with this options?

It is possible but I am not going to do so. The ea is already very complicated and this is too specialised a use.

You have the source code, so you can always try to get someone to make the modification for you.

Sounds like an interesting product.
Do you have a results table/stats?

Hi Steve,

I am wondering if a partial close in loss is a feature worth adding?

Would help when a trade turns before hitting your BE setting and zooms off the wrong way all the way to your excessively large SL. -

It would allow a 'staggered' stop loss - I will look into this. It can be hard working my way around the code because so much of it is an early example of my work. Leave it with me.

By the by, I was looking at the code a few minutes ago for something else and found the cause of that irritating flicker. Go to start() and remove Comment("Monitoring trades"); - just a few lines down.

The latest updated version is in post 1.

I discovered this morning that the ea would not manage some magic number trades under certain circumstances. This turned out to result from some coding left behind from its earliest incarnation, when all the ea had to do was manage trades on the chart it was loaded on to.

This should add some flexibility to managing by magic numbers and trade comments.

I have also got rid of that irritating flicker that has driven us all nuts for a couple of years. That alone is worth the update.

SteveHopwood for President!

Hehe. I cannot resist this. Apologies to everyone apart form jwUK for what follows.

What an utterly stupid question. The dimmest at FF can sometimes make me wonder why I bother coding anything, but fatuous posts like this one make my day.

Only someone far too dim to read even the first post in a thread can possibly ask a question this daft. I assume you are incapable of actually reading the user guide in post 1. There must be a few two-syllable words that slipped through the must-write-this-for-idiots-censor; my apologies for this monumental failing.

"Sounds like an interesting product"? How would you know?

Don't ever risk actual live cash trading Forex will you, jwUK? You are not bright enough to last more than a few trades and will lose all your money.

Ok, on a kinder note, do make sure you spend several hours backtesting this ea, won't you? You will learn much from the exercise.

macman, not a word, OK? Another one bites the dust.

Dear JWUK

It seems you have deep knowledge of Forex and have a good eye for spotting a good system. Can you please tell me what system you use and what profits you make. I recently nicked and pawned my girl friend`s diamond ring raising £1100.00. I am looking for a system whereby I can make 5% a day (that is not asking for much any idiot can make that much but for some reason my broker does not like me). That way over 7 days (i.e. one week) I can make just short of £400.00 compounded which is just enough for me to live on. I will not pay any Tax since I need all of £400.00, but Gordon brown will have some tax from me because I pay VAT. I smoke 25 cigs a day and drink 6 cans of beer daily. Unfortunately, I do not pay VAT on the beer (Stella imported by my local friendly off licence). Please help me if possible I want to start trading friday afternoon and carry on saturday and sunday that way I can have some money by tuesday.
Awaiting your asap reply.

P.s. If anyone else can help me pls let me know. I promise if I make 6 or 7% I will give you the extra 1 or 2%.
p.p.s. Mr Hopwood please do not ban me. I need money. I have given up my day job and have £1100.00 for my forex business venture which i am going to do full time. Please help this poor trader.

p.p.p.s. on reflection jsut pm me the system since if all these people find out about it it may force the brokers to close shop and we will be out of business. After all we need these people to lose money so we can make some money. Pm me ASAP please.

astral77, I would not dream of banning someone posting such a heart warming appeal.

You are correct in your assumption that any old idiot can make 5% a day trading forex. Your $1100 will indeed be worth over a $1,000,000 after a year trading my MegaMarketPipCrunching EA. Details follow by pm but I shall require a monthly license fee of $20,000 for its use.

So you sold you're girlfriend's diamond ring, quit your job and plan on making 5% a day on Forex by begging an anonymous poster on the internet for their "system".

I can't tell if you're joking or not. In case you aren't, DO NOT TRADE FOREX. Get your day job back and either put that money in the bank or get your girlfriend her ring back.

You will quickly become a millionaire with 5% a day. A little beyond the scope of "any idiot". I'm sorry to say it, but it's because of people like this that the US is trying to limit leverage...

Oh dear. Another individual unable to recognise sarcasm when he/she reads it.

Ok, so astral77 and I were having some fun at the expense of a deeply idiotic poster. If you are unable to recognise this, then I am afraid you too have your problems.

astral77 is an experienced trader and valued contributor to my threads. I will give you this one chance to back off and stay quiet. Respond to this with anything other than humility and I will bar you from posting in any of my threads. When you find them, you will discover they are invaluable- not for my contributions because I am merely the mechanic that bolts things together, but because of the value of the contributors my work attracts.

Think twice before saying anything silly.