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VO-Pro: Comprehensive visual order management system for MT4

  • #401
  • Jul 28, 2011 11:42pm Jul 28, 2011 11:42pm
Mulale, Ernesto,

Thanks for your suggestions.

However, I released VO-Pro back in February. People have had 5 months to offer suggestions now. There will be no more enhancements to version 2. It is now time that I packaged up the product and released a final version.

David

Quoting mulale
hi, I thought some improvements...
it may be a good idea to show the last order executed for a pending multiple TP/SL order (for instance in gray or black). Or simply the last order executed per currency traded? like an order trace...
Details of all orders created/modified/closed/deleted get written to the Orders Log.TXT file in the ...../experts/files folder.


and you may add a kind of alert if the stealth mode is not properly engaged to ensure the user that the order are executed in stealth mode?
For stealth mode to be "engaged", all that's required is that EAs are enabled and the Stealth Master EA is attached to ONE (i.e. any) chart. It is obvious if it's running because ALL orders get stealthed (their TP and SL immediately get set to 0 in the MT4 terminal).

You can add several orders, and then attach Stealth Master EA belatedly, if you wish. The EA will immediately stealth any unstealthed TPs and SLs that it finds.

The process that the EA performs (with each new tick) is as follows:

1. It checks the Terminal (Trades tab) for ALL open orders that have a non-zero SL or TP. It then zeros these, and stores the SL/TP levels internally (actually, as Global Variables).

2. It cycles through all of open orders to see if any have reached their stealth SL or TP, and if they have, immediately closes them.

3. It removes the GVs (both SL and TP) of all orders closed in step 2.

4. It writes all of the stealthed orders (ticket#, SL and TP) out to a file so that VOConsole can read them.

Quoting Forexaccount
Hi David, in the future can you put an option to trail the price behind the last bar? I use this type of trailing on 1 hour charts. As soon as current bar closes, the stop loss should be moved to the opening price of that bar.

Thanks, Ernesto
Apart from the stealth facility, VO does not monitor trades. There are dozens of free trade management EAs around (e.g. Steve Hopwood's), and also MYFX.

I might get around to adding management facilities at a later date - but this is likely to be several weeks, probably months, away; and will probably be a separate product. See post #391.
  • #402
  • Jul 29, 2011 11:51am Jul 29, 2011 11:51am
Minor Bug: I noticed this when trying to enter a trade in the XAGUSD where I entered the trade risk "2%,1,1" to try and split the trade into two positions. When I clicked on the check mark the lines of your script vanished and no orders appeared. At first I thought it was the delay problem while sending the order to the broker, until I realized that the lot size was the minimum for the trade and couldn't be split (0.01).

I'm not sure if you need to correct this by creating an error message. For a trader that's more focused on the trade it harder to spot that you are trying to split a single position - making it appear that there is a bug in the script.
  • #403
  • Jul 29, 2011 3:48pm Jul 29, 2011 3:48pm
Quoting kosai
Minor Bug: I noticed this when trying to enter a trade in the XAGUSD where I entered the trade risk "2%,1,1" to try and split the trade into two positions. When I clicked on the check mark the lines of your script vanished and no orders appeared. At first I thought it was the delay problem while sending the order to the broker, until I realized that the lot size was the minimum for the trade and couldn't be split (0.01).

I'm not sure if you need to correct this by creating an error message. For a trader that's more focused on the trade it harder...
In general, VO depends on feedback from the br0ker to trap errors. If no error is returned by the br0ker, then VO can do nothing except assume that the order(s) were placed successfully. At least that's the way it currently works. I did it this way to ensure that there was absolutely no conflict between what VO might think is an error, and what the br0ker's ruling is. Obviously the br0ker's ruling is final.

Having said this, there are a a few exceptions, where VO attempts to warn you of a possible error, by changing the text above the entry line to one of the following:

  1. "ERROR - Entry must be between SL & TP"
  2. "ERROR - Must have SL if Trade Risk is $ or %"
  3. "ERROR - Invalid order type"
  4. "ERROR - Order size is less than minimum allowed"

As far as I'm aware, the fourth of these errors works correctly provided that the orders are not split ("2%" instead of "2%,1,1"). If there's a split, VO treats the order as a whole for the purpose of the initial calculation/data display, and then performs the split later, which is why this error is not triggering. I'll see what I can do to fix this.

  • #404
  • Aug 1, 2011 1:03am Aug 1, 2011 1:03am
Thanks for the great peace of software. Just a couple of questions and suggestions. Please excuse me if these have been issued before didn't go trough whole thread.

1. Does VO-Pro effect on execution of the trades, sometimes it seems like there is a delay, ive noticed its probably more related to CPU usage, since prioritizing CPU usage seems to solve the problem but makes me wonder if effects on execution accuracy?

2. Feature suggestion: timed exits/entries, with or without condition

For example, i have an open trade that i want to close at the end of the at any price. Or with conditionally exit at t time if price is greater than x.

Havent seen any good EA for this around. So would be happy to see this feature implemented.

3. Trade risk n% of protected equity

With protected equity (call it whatever you like) i mean the amount that is left if you hit stop loss on all open trades. IE. equity minus open risk.

Thanks
  • #405
  • Aug 1, 2011 1:45am Aug 1, 2011 1:45am
Quoting bwa
Thanks for the great peace of software. Just a couple of questions and suggestions. ...........
Many thanks for testing VO-Pro, and for your suggestions.

1. Does VO-Pro effect on execution of the trades, sometimes it seems like there is a delay, ive noticed its probably more related to CPU usage, since prioritizing CPU usage seems to solve the problem but makes me wonder if effects on execution accuracy?
Obviously I can't say for sure, but I suspect that this depends largely on br0ker traffic. I use Go Markets; sometimes orders are executed instantaneously, and sometimes there is a wait time.

VO merely submits an order exactly as if you'd done it 'manually' using MT4. Order(s) are submitted immediately you click the EXECUTE green checkmark button. What happens after that is outside VO's control; it simply reports any error returned by the br0ker. CPU usage should not be an issue.

2. Feature suggestion: timed exits/entries, with or without condition. For example, i have an open trade that i want to close at the end of the at any price. Or with conditionally exit at t time if price is greater than x.
I wan't planning on adding too many more features at this point, especially as version 2.xx is not intended as a trade babysitter. VO has been in beta since February, and I'm keen not to hold back the final v2.xx release too much longer. At some point I need to put a stop on requests, otherwise the product will never reach the market. There have already been a number of requests for automated exits.

3. Trade risk n% of protected equity
With protected equity (call it whatever you like) i mean the amount that is left if you hit stop loss on all open trades. IE. equity minus open risk.
Nice idea, I will definitely give it some thought.

David
  • #406
  • Aug 1, 2011 3:02am Aug 1, 2011 3:02am
Thanks for the answer. Brought one more question into my mind.

When order is split into multiple entries by VO-Pro is it able to send all orders at once or does it have to wait until previous order has been executed?
  • #407
  • Edited 7:19am Aug 1, 2011 7:06am | Edited 7:19am
Quoting bwa
Thanks for the answer. Brought one more question into my mind.

When order is split into multiple entries by VO-Pro is it able to send all orders at once or does it have to wait until previous order has been executed?
Good question. I assume that you're referring to the option that allows something like "2%,1,2" to be entered into VOConsole's Trade Risk field (which means that all component orders share the same entry/SL/TP --- but these can subsequently be modified by running the 'VO Modify Orders' script?) That being the case, the following applies........

The total order is broken down into component orders, and each component is processed as an entirely separate entity, as follows:

1. The component order is sent to the br0ker.

2. If the order isn't accepted by br0ker, and you've specified multiple Execution Attempts, then the Wait Time you've specified results in a delay of X seconds between each attempt, until successful (proceed to step 3). If the order fails all attempts, then the resulting error is posted, and the whole process terminates.

3. If the order was accepted, and was a market order, and you've checked ON the 'ECN/STP br0ker: auto-add SL/TP when creating new order' option in VOConsole, then the order is modified as a separate step, to add any non-zero SL and/or TP. This can likewise result in multiple Execution Attempts, with a Wait Time in between each one, if necessary; and if the order fails all attempts, then the resulting error is posted (exactly as in step 2). [NOTE: If you don't have this option checked on, and your br0ker does not allow SL/TP to be entered when creating a market order, you will get 'Error 130 - Invalid stops'. This is consistent with your not being able to enter SL/TP if trading 'manually' with MT4].

Steps 1 thru 3 are now repeated for each subsequent component order. However, if an error was posted at either step 2 or 3, the whole process is terminated.

Because an error terminates the whole process, this means that some of the orders may get placed, but not the remainder. This is outside VO's control because MT4 does NOT allow multiple orders to be sent simultaneously. This is exactly the same as if you were to place the component orders 'manually' yourself.

It's also possible, with any of the orders, for step 2 to succeed, but step 3 to return an error (but I have yet to see this happen). This would result in an order being created without a SL and TP. However, these could be added easily enough by subsequently running the 'VO Modify Orders' script.


If you want to 'scale in/out' by having different entry/SL/TP points, then simply click VOConsole's RESET (circular orange arrow) button at the start of the process, and then run the 'VO Create New Order' script multiple times. The entry/SL/TP lines will start at the same levels as the previously executed order, making the scaling in/out a very simple process. You can also create your own Presets to scale in/out with a fixed number of pips between successive entries, SLs and/or TPs (and also check VOConsole's 'Auto-execute' option ON to speed up the process even further - all of this is explained in earlier posts).
  • #408
  • Aug 3, 2011 10:42pm Aug 3, 2011 10:42pm
Hello,

See attached picture. I opened a buy order but the order does not appears on V-pro console. i restarted both and still nothing
Attached Image (click to enlarge)
Click to Enlarge Name: Vpro problem.JPG Size: 191 KB
  • #409
  • Aug 4, 2011 12:55am Aug 4, 2011 12:55am
Quoting Forexaccount
Hello,

See attached picture. I opened a buy order but the order does not appears on V-pro console. i restarted both and still nothing
Hi,

You need to have the VO Monitor EA attached to one chart. Any chart will do. This EA sends the order data to VOConsole.

David
  • #410
  • Aug 5, 2011 1:45am Aug 5, 2011 1:45am
Hanover when using the pending order do the lines take into consideration the spread particularly on a buy when setting a buy or you need to compensate for that?
  • #411
  • Edited 5:10pm Aug 5, 2011 7:39am | Edited 5:10pm
Quoting duderoo1
Hanover when using the pending order do the lines take into consideration the spread particularly on a buy when setting a buy or you need to compensate for that?
Hi,

If you check VOConsole's 'Adjust for Spread' option ON (see screenshot), the spread is automatically taken into consideration:

The lines are plotted at the BID price (allowing you to align them with candle highs/lows, etc --- since all chart objects are likewise plotted at the BID price). However, the text above the lines shows the actual entry/exit prices (ASK price when opening a buy, or closing a SELL; BID price when opening a SELL, or closing a BUY. These are the same prices that are shown in MT4's terminal area, after the order has been placed). The calculations above the lines take the spread into account, i.e. show profits, losses, R-value etc net of spread. (Commissions, swap interest and any other br0ker costs are NOT included).

If you check 'Adjust for Spread' OFF, then no allowance is made for the spread:

The trade entry/exit will simply be placed at the plotted levels, i.e. the lines represent the ASK price when opening a buy, or closing a SELL; BID price when opening a SELL, or closing a BUY. The calculations do NOT take spread into account.

You can toggle 'Adjust for Spread' on and off, after the lines have been plotted. It's interesting to see how much of a difference the spread makes to the R-value (ratio of return to risk).

David
Attached Image
  • #412
  • Aug 5, 2011 7:44am Aug 5, 2011 7:44am
I see that yet another member has voted/rated this thread "terrible" (1 star out of 5).

Again, I would ask that you state exactly what you see as being VO-Pro's shortcomings, or at least explain the reasons for your rating. I am committed to producing a high quality product, and will do my best to remedy any flaws. But I need to know what they are.

More than 7 months and 800 hours worth of work has gone into the development of VO-Pro. The software currently comprises around 13,500 lines of source code.

David
  • #413
  • Aug 5, 2011 12:09pm Aug 5, 2011 12:09pm
Quoting hanover
I see that yet another member has voted/rated this thread "terrible" (1 star out of 5).

Again, I would ask that you state exactly what you see as being VO-Pro's shortcomings, or at least explain the reasons for your rating. I am committed to producing a high quality product, and will do my best to remedy any flaws. But I need to know what they are.

More than 7 months and 800 hours worth of work has gone into the development of VO-Pro. The software currently comprises around 13,500 lines of source code.

David
I'm not sure why you are taking the voting so seriously David. In my experience it's the norm on the internet for angry/powerless people to randomly go on pages and give them low votes. IMDB for instance is plagued with people who give movies 1 star that have never even seen it. Like you have said in a previous post, those people in most cases have never even downloaded or used your app.

Looking at some of the other really popular threads it's clear that most of them started in the free section until the author finally charged for a product or service and then it was moved to the commercial thread. Your previous comment that most people don't want to pay for products seems true, however I can't help but feel if this thread was in the free section first, that it would have had a lot more interest. I think it's just the nature of the people who trade in Forex.

Alex
  • #414
  • Aug 5, 2011 2:28pm Aug 5, 2011 2:28pm
Quoting kosai
I'm not sure why you are taking the voting so seriously David. In my experience it's the norm on the internet for angry/powerless people to randomly go on pages and give them low votes. IMDB for instance is plagued with people who give movies 1 star that have never even seen it. Like you have said in a previous post, those people in most cases have never even downloaded or used your app.

Looking at some of the other really popular threads it's clear that most of them started in the free section until the author finally charged for a product or...
Alex, completely agree with you....we love VO...
  • #415
  • Aug 5, 2011 3:28pm Aug 5, 2011 3:28pm
Quoting StanP
Alex, completely agree with you....we love VO...
I couldn't agree more strongly. There is no way that whoever posted the negative review could have even tried VO-Pro. If they had they would have had nothing but raves to post. I wonder what ulterior motive someone would have to behave so shabbily???
  • #416
  • Aug 5, 2011 5:14pm Aug 5, 2011 5:14pm
@kosai, StanP, johnsund,

Many thanks for your kind words.

I'm not as worried about the negative reviews as it might seem. I'm simply challenging the reviewers to explain their reasons. If the reasons are genuine, they could provide a starting point for further improvements. I'm hoping to implement some of the recent requests this weekend.

David
  • #417
  • Aug 7, 2011 8:34am Aug 7, 2011 8:34am
David, don’t give it any more significance than it deserves. It is obvious that such people’s only motivation for negative vote without any justifiable proof is to bolster their own fragile broken egos. Such people usually secretly admire and envy the things they publicly criticize or condemn. Such people get some kind of narcissistic gratification from putting others down.

And for those people who post negative reviews without justifying it, we know what the problem is. First and foremost, you just cannot make money in the market no matter how you try, and consequently every broker is a “bucket shop” trying to screw you, every course is a “BS” and you obviously can find all the information for free on the Internet, and every product that you have to pay for is “crap” and not even worth your time sharing as of why it is “crap”. Clearly such people have only one reason for writing negative reviews, and that is to stop other’s from making money, or to at least upset them, because after all you guys cannot make money and are miserable, then out of your frustration you seek temporary ego trips by tearing others down. I’ve seen such behavior at other threads, and all I have to say that it is nothing short of an infantile behavior.

People in forums should help each other, and when they see flaws in a product, a trading method, or in broker’s way of business, then they should bring it out in the open, so the parties at the receiving end have an opportunity to have their say, to clarify things, or to improve their service.

The darkness cannot exist where there is light, so reviewers are just plain cowards with neurotic insecurities who won’t put the cards on the table to let us all see where they are coming from. So I challenge those reviewers who failed to give valid justifications and explanations to come out of hiding from the bushes like little boys, and start acting like a real men and not like cowards. Justify your negative reviews, especially the people at the receiving end are willing to listen to what needs to be improved ! Or are you too afraid to come out of the darkness to have the light shine at you with nowhere to hide? Come on you little kids, tell me what’s wrong with the product, otherwise we will all have no other choice to than to conclude that you’re on the defensive and just projecting your frustrations with yourselves onto others in an embarrassingly childish manner. And we don’t want kinds in this forum do we?
  • #418
  • Edited 3:44pm Aug 7, 2011 1:55pm | Edited 3:44pm
Quoting Herd_master
David, don’t give it any more significance than it deserves. It is obvious that such people’s only motivation for negative vote without any justifiable proof is to bolster their own fragile broken egos. Such people usually secretly admire and envy the things they publicly criticize or condemn. Such people get some kind of narcissistic gratification from putting others down.

And for those people who post negative reviews without justifying it, we know what the problem is. First and foremost, you just cannot make money in the market no matter...
Very well put... The sad reality is that most traders who hang around on forums have this kind of "something for nothing" mentality where they feel they are owed a free product. While these people may seem useless on the surface, if you look at the other popular threads with 30,000+ views they almost always support a good product only if it was free to begin with. Anything that from day #1 was going to be for sale gets abandon or condemn. I think this group of people just have a weird way of looking at things. You seem to need to "hook" them on a free product before they will go for it. It's only when they see value in the product that they will happily pay for it. I keep seeing this same pattern with forums that were moved from the free section with a huge following.

I'm sure David must have noticed that the popularity of this page went up when he changed it from beta to freeware. People were flooding him with requests for the free link. I'm not sure if the thread was temporarily moved to the free section or not.

Alex
  • #419
  • Aug 7, 2011 3:04pm Aug 7, 2011 3:04pm
Quoting hanover
Hi,

If you check VOConsole's 'Adjust for Spread' option ON (see screenshot), the spread is automatically taken into consideration:

The lines are plotted at the BID price (allowing you to align them with candle highs/lows, etc --- since all chart objects are likewise plotted at the BID price). However, the text above the lines shows the actual entry/exit prices (ASK price when opening a buy, or closing a SELL; BID price when opening a SELL, or closing a BUY. These are the same prices that are shown in MT4's terminal area, after...
Thanks David. Do you perhaps have all the vids available to download in 1 link?
  • #420
  • Edited 1:55pm Aug 8, 2011 12:08am | Edited 1:55pm
Hi David,

I just wanted to stop in and say thank you for this great tool.

I've been testing VO Pro and liking it very much.

Keep up the good work.


(btw: I was checking your first post for the paypal details but couldn't find the info. Is it somewhere else?)

Cheers,
Fudo
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