Problem with correlated currency pairs

Hey guys, I am trying to formulate one of my trading rules into a condition that can be easily coded by an EA programmer.

The rule is this: Do not have more than 1 active trade with a common currency. E.g. I should never be in EURUSD and EURAUD at the same time because they have the common currency EUR.

However, the problem is, entry signals for both pairs can fire up AT THE SAME TIME, prompting the EA to enter both, thus exposing me to EUR 2 times.

My question is: is there any way to prevent this from happening? One obvious answer is to not attach the EA to pairs with common currencies. But I would like to avoid this if possible. The solution I am thinking of is more along the lines of the EA detecting the signals are on both (or more) correlated pairs and will split risk evenly between each pair. I don't know if this is possible because the EA is attached to each chart separately, and it enters with market orders at the close of the candle.

Also, I am seeking the services of a highly intelligent, professional programmer. PM me please.

It would seem that you are trying to do part of the coder's work for him. Usually the trader or end user sets out the rules and requirements of a system and then it is up to the coder to come up with algorithms to implement them. I think its presumptious to recommend a way for a coder to this unless he is stumped. Most coders have their own preferred means of doing something and my way would not be to their liking. Of course somebody else's way of doing things is often not to my liking. In programming, there are very few situatios where there is a single
correct way of doing things.

Having said that, your idea is one possibility. Another that I prefer would be a locking mechanism. For each currency their would be a token, that the EA would have to acquire in order to trade. If unable to acquire the token because another instance has already acquired it, it would not enter a trade. Not easy to do in MQL, but possible.

CodeMeister,

You have made a great point. I will definitely let the programmer figure it out in his own. I was just going through all my criteria and in my head trying to see if each function will be able to be coded. I understand that this is not my job and I should just let the programmer do it.

Thank you for that.