Manage Take Profit EA

Hi FnickB,

First, thank you for your kind contributions to the forum and this management EA. Wanted ask: you mentioned this version will work with open pending orders, but I haven't been able to get it to work (TP or SL) with scaled pending 'stop' orders in the desired direction of price movement. Is there a quick tweak we can add to have it work in this direction also?

Thanks,
fjv

Thank you for sharing, in my opinion it's the best order manager!

I noticed a problem with the 1.9 but also the other versions when opening 2 or more trades, basically I think it just manages the first one and it closes the second one when the considtions of the first trade are met. It just closes all the trades at the same time .... anyone experiencing this problem too ?

This is not a problem, it's the way it works. It manages ALL trades with the same magic number, which by default is 00000. You either need to accept this or you need to open additional trades with a different magic number (I think there's a script in here to do that) and open a NEW chart of the same currency and use another copy of MTP and change it to manage that magic number. Personally I'm still using 1.7 because it works for me and I always place the order before adding the EA.

ok - thank you.
Im working with a friend to modify a bit the code to make it suitable for more than one order at the same time .

Thank you for now.

Anyway to have it close by position size percent?

Ex 2 lots open, close 50%....at 20 pips

I noticed a problem with the expert adviser (mtp 1.9) when opening two or more trades of the same currency. As soon as you open the second trade (which is negative due to opening spread) the ea just manages the first trade and instantly closes the second one which is negative and below the breakeven level of the first trade due to spread. By mistakenly applying the breakeven of the first trade to the second trade, the ea prevents me from opening more than one order per currency at the same time.

I was wondering if anybody who has some mt4 programing skills could make a modification to the ea so it separately manages multiple orders of the same currency with one pip breakeven stop without affecting the other orders.

hi, I experienced the same problem, actually I modified the code a little bit, excluding the trailing stop and trailing target (after the 3rd of both, it won't do anything) but I still have some problems with it: i was able to make it manage the two or more orders separately as regards the targets, but not the stop-losses. I'll post it as soon as I manage to fix the stop-loss part. (moving-stoploss works well on the first order, and it doesn't affect to the next ones)
Anybody want to help ? we can share the code.

hi lorbax .. sounds like excellent progress! Anxious for the prospect of getting the stop-loss portion to move also. I'm rather new to MT4 code, but just acquired an EA coding book, several online resources, and have a strong desire to get this code working for multiple positions ..I'd be happy to help as I'm able..

I have question about ver 1.9 - reset is ok NICE, but cann you solve the SL like in version "ManageTPver3.3 before..." because i donst understand the SL and trainling stop in ver. 1.9 but very good in this version is RESET , NICE JOBE
With this two combination - ver1.9 good reset and ver3.3 SL and trainling will be perfect system for trading . . .

thanks

Can you explain how works

extern int Close_Method = 1;
extern int First_Stop_Target = 22;
extern int First_Stop = 1;
extern int Second_Stop_Target = 50;
extern int Second_Stop = 15;
extern int Third_Stop_Target = 100;
extern int Third_Stop = 25;
extern int Trail_Stop_By = 30;
extern int Max_Loss = 300;

because i dont see on MT4 any stop loss on first_stop like in "ManageTPver3.3beor..."

Thank you
best regards

What am I missing guys?

I have tried every version of this EA - I get nothing but hassles, resets, total wipeouts of my pending trades etc etc etc.

To be clear - I only have interest (for now) in managing "Move Stop to BE + pips".

Such a BASIC function should not be so hard!

But the "thing" of this thread fails with versions ManageTPv2-4 and its tangents, also with MTP_v1.9, MTP_v1.8 etc, etc.

The best result I get is that it MIGHT set the correct SL (but only on 1 trade) - before it then it proceeds to totaly destroy all my pending trade setups.

I know that lorbax, wheelbarrow and others have expressed the flaws in the last 2 pages in respect of multiple trades management more tactfully than I could.

The basic fact this thing does not work at all as intended for Move Stop to BE + pips WITH MULTIPLE (PENDING) TRADES.

I'll be very happy if proven wrong about it.

Absolutely amazing... The original MTP was written by a programmer/trader to manage his own trades that suited his trading style and it apparently works to his satisfaction. Then someone came along and modified it (and tested) to add some additional features including a trailing stop until he, too, was satisfied that it worked for him. Then someone else comes along and modifies it some more to allow for pending orders and had a few challenges and maybe the latest version works for him and maybe it doesn't, and then you come along whining and complaining that it doesn't do what YOU want it to do. Maybe you should learn EA programming and fix it so it works for you and then come back here and post your fantastic EA because NOBODY here is getting paid for doing this. If it's not so hard, then do it yourself. And if you're waiting for someone else to make you happy (by proving you wrong?)... well, you said it, you're not very tactful.

This thread is nearly 4 years old. It should be put to sleep, before someone hurts themself with it.

The Original Poster last contributed to it 3.5 years ago. Since then, the thread has been a disaster.

Extensive reporting and feedback of problems, issues, and faults by intelligent users have pointed out no end of bugs that still exist today - even after 4 years.

As a patchwork of different coders adding 2 cents here and there, sure use it to cut teeth on learning coding. I admire that very much.

But to refer to this as a functional EA of utility and stability is totally misleading.

It is much like the committee gathered together to design a thoroughbred race-horse coming up with a 3 humped camel.

The functions of this EA are (now I know) well catered for by mature products. Search for MPTM to find it.

BUT THIS EA IS DEADLY DANGEROUS!

Cheers stockwet moneybiz FnickB

After reading (lol it's only 29 pages) this entire! thread (as anyone should before they post anywhere) from start to finish, compiling the relevant post's for each EA's evolution into what amount's as user guides, testing each one and understanding (as anyone should seek to if they intend to use) their limit's, and trialing them under the conditions they were designed for (all which worked as described btw). I can now put the folder in its correct place under <storage><TradingEA's><Trade Management>... and should i ever need the functionality contained within, I now have access to it... So cheers for sharing .

My current trade management solution "Bemac Trade Manager v0.1" suffice's for now in all it's limited simplicity....

Dear stockwet,

We wonder that how we can get an EA that it just moves Stop Loss only one time as we desired. For example: Buy entry at 1.5000 and Stop Loss at 1.4950; when the market moves up to 1.5100 (or just a certain price that higher than the entry), Stop Loss will move to the entry price at 1.5000 and then stop working at that until next order.

We don't know how we can extract your EA to get one only small purpose we want.

We will appreciate it very much if you can help us work this out stockwet !

Waiting for your response.

Regards,

Dear DancingPhil,

I love your handle, by the way. I always have a hard time coming up with handles, so, I just take what's given to me most of the time. I digress.

I rarely respond here anymore for a number of reasons. Mainly, the ManageTP EA had become so popular that I was getting many, many requests in my personal email, Yahoo! IM, and through FF to make this small change to the EA and that small change to the EA. It became overwhelming. In fact, you'll notice that I created a number of EAs that are popular on this site, but, you can't make a living and support a family giving out free software.

I've wanted my stuff to be given to the community for free. Someday, that may change. I make pick ManageTP up again, insert some updates and killer features, then sell it. But, I'm not there.

Before you go around bashing people's good work, though, (and, I say this with the other good programmers in mind who have worked on ManageTP) I want you to think about a few things.

1) Many of us have worked hard to contribute positively to this forum and the trading community, expecting no reward, monetary or otherwise, in return. What have you, or others who come here bashing these things, contributed? While working a full time job, I taught myself how to trade and how to program in MetaTrader. I wasn't a programmer before I picked this stuff up. Everyone here has the capacity to learn how to program in MetaTrader and fix any issues they might have with anything they get for free. I don't consider "I don't know how to program" an excuse for not taking initiative, applying a little creativity, and then working your tail off to learn something.

2) The last code I posted here was probably 3 years ago. Geez - how many updates has Metatrader been through since then? Why would anyone expect that an expert developed for MetaTrader 3 years ago would still work? MetaQuotes constantly changes their API and their functionality. I'm surprised that the darn thing even fires up at all!

3) Brokers have a great deal of flexibility in their implementation of MetaTrader. Not only can they turn features on and off, but, they can deploy features that the experts were never tested for. For instance, 6 digit pricing was not available in MT when I built the expert. That, in and of itself, probably does more to mess the expert up than anything else (I'm just guessing and I have never tested it.) Try the expert out on a variety of brokers and see if it's a repeatable issue. If not, then, there's a broker-specific issue going on. I'm shocked at how people on this thread do not know how to walk through basic troubleshooting steps in order to narrow down an issue. It's either ignorance, laziness, or both. The programmers who contribute here don't have time to do that dirt work. If you really, really want their help, tell them exactly what's wrong, which broker, what testing you've done, and then plead and beg for their help. Otherwise, go hire a coder.

The reason coders like me quit contributing here is partly because of people like you who get so hot under the collar because something doesn't work right. You are so critical and negative of people and the hard work that they've contributed. Words like yours, DancingPhil, chases good people from this forum. Try to be more respectful and professional. You make valid points - maybe the thread should be retired - but, the way that you say things says a lot about you and just makes people want to ignore the message that you have. I hope this advice helps you in your future contributions here.

Regards,

stockwet

Lovely words from you StockWet - thank you very much for your time to write them, and welcome back to this thread with your words of wisdom for me and the other's here - all of zero tact and diplomacy.

I totally agree with your sentiment. I fully embrace your advices. Others should too.

Yes I have a cutting wit. That doesn't make it right. It often makes me a twit.

On a more serious note - Please retire this thread.

Until your post just now, I had no idea this was a MT3 EA.

And certainly in its current formS, the EA is a dangerous waste of time for those looking for current solutions.

Newbies and oldies who learn slowly only seek relevant answers. We don't contribute much code, but we certainly do feed back our experiences.

I strongly recommend ownship of any coding thread also include (usually done by another person) documentation/user guide/change log.

We plebs are a demanding lot, and I think it only fair that we sort the docs/guides/logs side out on behalf of the hard coding work that is done by those that code.

In a nut shell, please retire this thread and perhaps if you are of a mind to do so - begin it a fresh. I'll be happy to work with you on the user guide.

Before anyone "puts this to bed", let me say that I use this EA "EVERY DAY", OK??? And it works great for me, so what's the problem??? I use the modified MTP 1.7 (for the trailing stop) and since I understand how it works (use it on a demo account before you commit real money, unless you believe in Lady Luck), it functions just fine as designed. The one thing I would prefer is that I could set my secondary stops lower than the previous SL target but that is not how this one works. Frankly, I am ecstatic that someone(s) have been willing to share their hard work with me, because I certainly don't have the time to figure this out. THANKS, PEOPLE!!! If you are not getting the result you expect, read the entire thread to understand what it actually does, and of course, if you don't like what it does, make your own.

Note to Orion86: If you use MTP 1.7 (a later revision) I have had success with putting my Take Profit at 1000 or something ridiculous, then I simply set my first SL at 20 and 1 and then the rest at 0 and then I can use the trailing stop, or I set my second SL at 1000 and then set a target of 100 or 125, whatever.

And Phil(whatever), your last post isn't really any more tactful than the previous one I replied to. Your request (demand?) to "retire" this thread suggests that you feel the people who posted here are out to hurt you or intentionally cost you money since you don't have the common sense to test out Free software on a demo account. Since you are more than willing to state that you "don't contribute", "are demanding" and not "tactful", please just go away, and stop posting to a thread you think should be removed.

well I have tried about every one of these EA's and they are all full of fail IMHO

on my demo account this is what i have seen (4 dec broker)

1.7 - resets if i move time frame, very annoying doesn't reset after all trades closed. seemingly closes traded at random for no reason i can find

1.9 - closes trades at -3 pips even on default settings

2.4 - 2.5 - 3.3
resets if lose connect or change time frames, again this suck as i change time frames a lot for medium term or scalping


I'd just like a simple stop moving EA that will not reset