Multi-purpose trade management EA | Page 38 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

BASKET TRADE Management: Using multiple trade management EA's on basket trades 11 replies

Alternative Trade Management/Money Management Methods 3 replies

multi-purpose Stoch Alert 11 replies

Successful Trade Management / Risk Management 0 replies

Trade Multi ECN accounts on Multi Brokers ? 1 reply

Attachments: Multi-purpose trade management EA
Exit Attachments

Multi-purpose trade management EA

  • #741
  • Mar 14, 2011 9:01am Mar 14, 2011 9:01am
Quoting idash
...If anyone has the ECN version of the mptm, can you share it? Thanks!
HI

Your problem lies elsewhere and has nothing to do with ECN. For your information IBFX is ECN although they try to hide the fact. In any event the only problem with ECN and EAs is that the server does not allow TP & SL to be sent at the same time as the order, therefore, ECN EAs send the order in two stages (first the order, then change of TP and SL). SINCE MPTM DOES NOT PLACE AN ORDER AND ONLY MANAGES THE ORDER IT IS ECN COMPATIBLE. Look elsewhere for the problem.

Hope this helps
  • #742
  • Mar 14, 2011 9:19am Mar 14, 2011 9:19am
Hey Astral, thanks for your reply. It's just I signed up for a live account recently and when I tried to run Steve's mptm, it wasn't working. I guess I'll try to reinstall the mt4 platform and try running the ea again.

*I was speaking to my friends over the weekend about the mptm not working on this new broker and they suggested that it might be because the broker is ecn.


Quoting astral77
HI

Your problem lies elsewhere and has nothing to do with ECN. For your information IBFX is ECN although they try to hide the fact. In any event the only problem with ECN and EAs is that the server does not allow TP & SL to be sent at the same time as the order, therefore, ECN EAs send the order in two stages (first the order, then change of TP and SL). SINCE MPTM DOES NOT PLACE AN ORDER AND ONLY MANAGES THE ORDER IT IS ECN COMPATIBLE. Look elsewhere for the problem.

Hope this helps
  • #743
  • Edited Mar 18, 2011 11:05am Mar 17, 2011 1:12pm | Edited Mar 18, 2011 11:05am
Dear Mr Hopwood,

When setting Hedging the Hedge is Allowed to TRUE, this goes into a continuous loop.

Would it be possible to curtail the loop so that only a user defined number of hedge the hedge trades are made.

Additionally, would it be possible for you to code a BreakEven Profits variable in the hedging section of MPTM (to cover both the original trade, the 1st Hedged Trade and all other Hedging the Hedge trades) as at the moment we can only close the trades at BE. It is eminently sensible to allow for a few pips profit given that the pair has now decided to move in our favour.


Sincerely

G Nicastro
  • #744
  • Mar 18, 2011 4:42am Mar 18, 2011 4:42am
Hi Steve a wonderful system u have here.
Just wondering of the possibility of adding a bar by bar trailing method
  • #745
  • Mar 18, 2011 9:41am Mar 18, 2011 9:41am
Dear Mr Hopwood,

As the current EA can only do partial closure with fixed lots and pips and that limited out chance to make profits.

Then I suggest an improvement method for EA's partial closure that user can determine both the amount of lots as well as the number of pips for each partial closure, the maximum of partial closure is 5 times with condition that total lots of 5 partial closures much exactly equal to the original order.

for example:
Buy 1.0 lot

first partial closure is: 0.1 lot with +10 pips
2nd partial closure is: 0.2 lot with +20 pips (+20 pips is calculated from the original buy price)
3rd partial closure is: 0.3 lot with +35 pips (+35pips is calculated from the original buy price)
4th partial closure is: 0.4 lot with +50 pips (+50pips is calculated from the original buy price)
5th partial closure is: 0.0 lot with +0 pips (due to 1 lot has been closed)

Above is my suggestion for EA improvement. Hope that you'll find it interesting.

Regards,
  • #746
  • Mar 23, 2011 11:27pm Mar 23, 2011 11:27pm
Quoting patuan84
Dear Mr Hopwood,

As the current EA can only do partial closure with fixed lots and pips and that limited out chance to make profits.

Then I suggest an improvement method for EA's partial closure that user can determine both the amount of lots as well as the number of pips for each partial closure, the maximum of partial closure is 5 times with condition that total lots of 5 partial closures much exactly equal to the original order.

for example:
Buy 1.0 lot

first partial closure is: 0.1 lot with +10 pips
2nd partial closure is: 0.2 lot with +20...
This method sound great and maybe may addon to move the stop loss according to the level of partial closure. e.g, when 1st partial closed, set sl at BE/BE+pips, 2nd partial closed, set sl at 1st partial closed price (from TP=10), 3rd partial closed, set sl at 2nd partial closed price (TP = 20), so on...till the 4th at sl=35.

Then, the EA may let the user to manipulate the level of profit taking based on lots size, set the tp manually or using Fibonacci number, and step stop loss by TP level or trailing stop by pips.
  • #747
  • Mar 27, 2011 9:47pm Mar 27, 2011 9:47pm
I use the ea to manage basket trades, and I'm closing baskets either at tp or sl using the percentage option, so sl and tp autoadjust everytime as the account grows and i don't have to fiddle with eas' parameters.
The minor inconvenience is that I'm also using the jumping stop feature, which can't be setted based on account percentage.
Could you add the option to calculate jumping stop based on account percentage?
  • #748
  • Apr 4, 2011 4:23am Apr 4, 2011 4:23am
LUC (The Law of Unintended Consequences) can kick in easily when making changes to a huge piece of software like mptm.

In preparing and testing a ready-made version to accommodate ideas presented by Nicastro in my Brijon EA thread, I noticed the trailing stop reverting to its input value, not its adapted-t-x-digit-crim value.

I have never used mptm's trailing stop and so had never noticed this. It turns out to be caused by a single line of redundant code that has never, ever been of any value.

The fix is in post 1 and is an essential update.

  • #749
  • Apr 7, 2011 5:15pm Apr 7, 2011 5:15pm
I see a lot of requests for features here.

Sorry, but unless an addition has a clear general benefit, then I will not consider it. None of the requests demonstrate this general interest.

This is a very good reason for the traders requesting features to learn to code and make the additions for themselves. All Forex traders using mt4 should be mql4 coders as well.

  • #750
  • Apr 8, 2011 10:39am Apr 8, 2011 10:39am
Can this EA handle more than one trade comment? For instance, I would like it to control all trades with "buy8" and "sell8", would I be able to do that? Thanks.
  • #751
  • Apr 8, 2011 3:53pm Apr 8, 2011 3:53pm
Quoting newark18
Can this EA handle more than one trade comment? For instance, I would like it to control all trades with "buy8" and "sell8", would I be able to do that? Thanks.
No. Use different instances of mptm to achieve this.

  • #752
  • Apr 8, 2011 4:03pm Apr 8, 2011 4:03pm
Quoting SteveHopwood
No. Use different instances of mptm to achieve this.

Thought so, thanks!
  • #753
  • Apr 15, 2011 6:39pm Apr 15, 2011 6:39pm
Hi Steve,

Thanks for the EA. It's great.

May english is not good but I'll try to explain the idea... I think it may be usefull feature..


The idea is like you feature with hedging, but should open not an opposite but the Entry direction position after some loose pips 20 for ex. (value should be selected)

When entering trade, robot sends limit order lot2(lot2 = lot1*2, or selected value) at selected loose pips(20).SL = limit order price - loose pips(20) + spread. TP for limit order - first trade enrty with partial close(50% for ex.) Break Even pips 20,BreakEvenProfit +1;
If order is executed, Tp of the original trade to BE or +1 pip for ex., so in result you will have more accurate Entry2 trade, with the original lot size.closed original trade 0 or +1 pip. SL for 1 and 2 trade for Entry2 at 20 pips + spread.

If the trade still goes bad, and you are wrong in your calculations, and price moves additional 20 pips agains you, Third trade is executed,( TP= full close on entry 2 level. (lot3=lot1+lot2*2) SL Entry3 - 20 + spread.


enter buy trade (lot1) at 1.4400, (for ex. set pips value 20) price moves against you,

Robot put buy limit order at Entry2 1.4380 lot2(lot2= lot1*2) (TP1.4402 Half close,Break Even pips 20,BreakEvenProfit +1; If executed Change Entry1 TP to BE, 1.4400) SL for ENTRY1 and Entry2 = Entry2 - 20 pips + spread. (1.4358 )
And send buy limit order at 1.4360 Entry3, lot3 (lot3=lot1+lot2*2 with Tp on Entry2(1.4380) SL 1.4338

And so on till the trade will be closed with 20 pips profit.

I think this should be very usefull for having more accurate position on the market for trade with potencial reverse zone 15-35 pips.

For now I'm doing it manually (closing bad trades 0,+1 pip, and leave trades in best position for more profit growing.


I've attached an EA which makes half of this, ...may be it will help,

Looking forward your comments.)
  • #754
  • Apr 23, 2011 10:45am Apr 23, 2011 10:45am
Anyone familiar with MPTM

I'm trying to set up MPTM with the BriJon system
What I want to do is load the original 7 buy 7 sells
I have in the comment field ORIGINAL I also have a magic number 9696

Then from time to time I want to place trades with a comment 'BJ" and a magic number 10

I want MPTM to manage these only not the original 14.

So I set manage by magic number and put in 10
I set manage by comment and put in BJ

I should have manage all trades set to false

I then have BE true 30 2 (default)

My intent is as I place trades other then the original soon as a pair gets +30 it sets the pair to BE+2

also if I chose I could set up TS the same

I want to confirm the above
thanks
  • #755
  • Apr 23, 2011 10:50am Apr 23, 2011 10:50am
Quoting dryclean
Anyone familiar with MPTM

I'm trying to set up MPTM with the BriJon system
What I want to do is load the original 7 buy 7 sells
I have in the comment field ORIGINAL I also have a magic number 9696

Then from time to time I want to place trades with a comment 'BJ" and a magic number 10

I want MPTM to manage these only not the original 14.

So I set manage by magic number and put in 10
I set manage by comment and put in BJ

I should have manage all trades set to false

I then have BE true 30 2 (default)

My intent is as I place trades other...
That should work. You only need to set manage by magic number then insert 10 in the field; you do not need to set to manage by comment as well, unless you occasionally use the same magic but different comments.

  • #756
  • Apr 23, 2011 10:57am Apr 23, 2011 10:57am
Quoting SteveHopwood
That should work. You only need to set manage by magic number then insert 10 in the field; you do not need to set to manage by comment as well, unless you occasionally use the same magic but different comments.

OK will do
Thanks for the quick response
  • #757
  • Apr 29, 2011 2:57am Apr 29, 2011 2:57am
Dear Mr Hopwood,

I have noticed that when I set MPTM to manage by trade comment, MPTM manages all pairs except GBPJPY.

This is strange as all other pairs in Brijon's Game Mode are managed at a TS of 3, except for GBPJPY.

Could you please look into this

Sincerely

Nicastro
  • #758
  • Apr 29, 2011 3:39am Apr 29, 2011 3:39am
Just finished the threads here. Thanks for the ea. I have enjoyed reading about the development of the ea. Thanks for helping Nanningbob with his systems. Will be moving on to your other threads.
Great trading tool.

Doug
  • #759
  • May 2, 2011 4:28am May 2, 2011 4:28am
Quoting Nicastro
Dear Mr Hopwood,

I have noticed that when I set MPTM to manage by trade comment, MPTM manages all pairs except GBPJPY.

This is strange as all other pairs in Brijon's Game Mode are managed at a TS of 3, except for GBPJPY.

Could you please look into this

Sincerely

Nicastro
I have the same problem
  • #760
  • May 2, 2011 4:27pm May 2, 2011 4:27pm
Quoting Nicastro
Dear Mr Hopwood,

I have noticed that when I set MPTM to manage by trade comment, MPTM manages all pairs except GBPJPY.

This is strange as all other pairs in Brijon's Game Mode are managed at a TS of 3, except for GBPJPY.

Could you please look into this

Sincerely

Nicastro
I really, really wish people would master the basics before bothering me with 'bugs'.

What the blue blazes makes you think that a pair with a spread the size of GJ will allow a ts of 3? That is a ridiculous idea.

Given that countless others have been using mptm for years without problem, does it not actually occur to you that the fault might be yours?

Really?

Send me looking at my code again with a stupid query like this and I will stop you posting in any of my threads. You too Penny.

Yes, I am cross. I have better things to do than to waste time trying to hunt down a bug before I realise that the fault is actually a poster too dim to learn the basics for him/herself.

People like you benefit hugely from my work. I spend a lot of time doing it. Stop abusing the privilege of getting it for free.
0 traders viewing now