EA to prevent Losses on a Winning Trade

Have you ever experienced a winning trade (positive trade which is yet to hit TP) but later become a losing trade? If the answer is yes, you will need YES-TM EA.

Introducing a stealthy trade management EA:
Yick Enhanced Stealth Trade Management EA (YES-TM EA)

Q: What Can YES-TM EA do?
A: It can manage your trade without having to set TP, SL and TS on the MT4 Platform. It achieves the objective by using hidden setting in the EA.

Q: What is the advantage of using hidden setting?
A: A hidden setting will hide TP and SL setting from dishonest brokers. If they know your setting, they can spike you up/down to mess around with your trade.

Q: What is the limitation of this EA?

A: It can only manage one pair at a time. This is because the EA cannot get the Bid & Ask price of other pairs. The EA can only get the Bid & Ask price of the attached chart. So, it is a limitation of MT4 query.
Limitation eliminated with tips from ydrol. The EA can now manage multiple pairs and multiple positions from just one EA chart attachment. Best to attach this EA to a very active pair with a lot of tick activities.

Q: How many digit is this EA meant for?
A: This EA is meant for 5 digit brokers. So, all the setting is in point rather than in pip. 1 pip = 10 points for 5 digit broker.

So, if you are trading a basket strategy, you will need to attach the YES-TM EA to every pair (chart) that you trade.
No more such requirement from Version 1.1 onward.

Q: How to use this YES-TM EA?
A: First, it can guarantee that your positive trade will not turn into a negative trade.

Second, this EA is suitable for all trading strategy of all timeframe. All you have to do is to understand how it works. It can be used for scalping, day trading and swing trading. It can also manage trades of other EAs. The possibilities are endless.

Third, it is extremely useful to use this EA if your brokers have got a huge gap of the minimum TP & SL level. For example, FXPrimus, they have a minimum of 20 pips TP setting for gold. That means, you can't send order with TP of 2 pips. The YES-TM EA can TP your trade at 2 pips (with little slippage).

Forth, it can manage trades opened by other EAs or your mouse click.

Q: How to setup this EA?
A: All manually open trade will have a default Magic Number of 0. By default, the EA is set to manage trades with Magic Number 0.

If you use another EA to open trade, you should setup both EAs (The EA you use to open trade) and the YES-TM EA with the same Magic Number. If your EA does not have a Magic Number setting, by default, the Magic Number is 0. So, you will setup the Magic Number of YES-TM EA as 0 as well. In this case, your manual trading and EA trading will be the same. YES-TM EA will manage both your manual trading and your EA trading simultaneously.

Let's say you have 2 pairs that you wish to trade. The "XAUUSD" and "GBPJPY". You attach this EA to "XAUUSD" with tp:500, sl:250, ts1:100 with Magic Number of "1234". The EA will only manage trade with magic number "1234". Then, you attach this EA to "GBPJPY" with the magic number of "5678" and with the setting of tp:50, sl:50, ts:10. The EA will only manage trade with magic number "5678" which is unique to this "GBPJPY". I don't use and GV that can interfere with each other. These 2 EA will response to their respect chart tick and will not cross managing other pair with different magic number.

NumberofRetry: If the trade order is not being accepted by the broker, how many time it should retry to execute the order.

OrderHiddenTP & OrderHiddenSL: Instead of setting the TP & SL on the MT4 platform, you use these 2 setting to manage your TP & SL so that your broker does not know your TP & SL level. This is to avoid dishonest broker sending you spike and taking you out.

OrderTS1 & OrderTS1Trigger: Let's say you enter a long trade of EURUSD at the open price (OP) of 1.32450. Trailing Stop Level 1 will be triggered at the bid price 1.32500. That is OP 1.32450+50(OrderTS1Trigger). The price of Trailing Stop Level 1 will be OP 1.32450+20=1.32470. If the price does not hit your TP and it fall back from 1.32540 to 1.32470, the order will close with about 20 point profit. Since this is not the system TS, there will be slippage. But on average, you get the price that you want. If your broker charges commission, you will have to offset the commission too. Say, if the broker charges you 1 pip commission, and with a OrderTS1 of 20, you will only have 10 points in profit.

Some may argue that what if the trade is profitable again?
Well, I don't know about your rules, my rule is, it is better to have money in my pocket than the broker's pocket. If it closes the trade at 2 pips, you could have missed the 20-100 pips extra profit. Well, that's ok, there will be another opportunities. At least, you don't have to work extra to earn your money back from the broker should the trade turn against you. This is my number 1 forex trading rule, "Preserve your Capital". It is just unacceptable for me to have a winning trade turning into a losing trade.

OrderTS2 & OrderTS2Trigger: Let's say you enter a long trade of EURUSD at the open price(OP) of 1.32450. Trailing Stop Level 2 (OrderTS2) will be triggered at the bid price 1.32550. That is (OP) 1.32450+100(OrderTS2Trigger). The price of Trailing Stop Level 2 will be OP (OrderTS2) will be 1.32450+50=1.32500. If the price does not hit your TP and it fall back from 1.32570 to 1.32500, the order will close with about 50 point profit. You have just locked in another 30 point profit from OrderTS1.

OrderTS3 & OrderTS3Trigger and OrderTS4 & OrderTS4Trigger work the same. All the reference point is from the OP of the trade.

As you can see, we only have 4 level of Trailing stop. How does it manage the beyond level 4?

From after Trailing Stop Level 4 is triggered, the Trailing Stop no longer refers to the OP. It starts referring to the Trailing Stop Level 5 price (hidden) with OrderTS4 as reference.

Using the default setting:
Open Price: 1.32450
TS1Price: 1.32470
TS2Price: 1.32500
TS3Price: 1.32550
TS4Price: 1.32650 (After price triggered at 1.32850)
TS5Price(Hidden): ??
Without turning on (TRUE) the OrderTS5Jump flag, it will behave like a MT4 platform Trailing Stop. But it is hidden from the broker.

That means, with OrderTS5Jump set to FALSE, and when the price goes to 1.32900, TS5Price (Hidden) = 1.32700 (1.32900-200[OrderTS4 Valuen rm TnceLevel 4 is triggerrouill manage 10 trades from 1 pair.]). If the price rise again to 1.32946, TS5Price (Hidden) = 1.32746 (1.32946-200[OrderTS4 Value]).

If OrderTS5Jump is set to TRUE, TS5Price (Hidden) will maintain at 1.32700 if the price rise up to 1.33099. Once it hit 1.33100, TS5Price (Hidden) = 1.32900. If the price hit 1.33300, TS5Price (Hidden) = 1.33100. It will update the TS5Price (Hidden) only after there is a (2x) OrderTS4 point gain. This is to give extra margin for the price to move in a swing / day trading strategy.

BreakEven Setting. If it is set to TRUE, it will attempt to close at the Break Even Profit Level after X seconds of BreakEvenTime (in seconds). If it is set to FALSE, it will not try to break even at all. The trade will resume its normal course which will hit either TP, SL or TS according to your setting.



Respectfully,
Yick Tan
Sept 6, 2013




ps: A special request from me – the author. This YES-TM EA is released under GPL License. You can download and use it anyway you want, even as a part of your commercial EA. There will be no issue with me. Just don’t remove the author and website link. I have gained much from the Forex communities and I hereby wish to contribute something of value back. All I ask is, if you use my EA and your EA is making money, or you know any EA is making money, do share it with me. (PM me.)We grow our knowledge by sharing ours with others.

Disclaimer: This EA comes as it is and without any warranty. I am not responsible for your any of your losses using this EA. Use at your own risk.

Version 1.1 released on Sept 10, 2013.

Do report them if you find one.

Next Version Update:
Option to restore TS Setting When System Crush and Restart.
Option to set MT4 System TP and SL. This is not a stealth feature but safe guard your trade in case when the internet connection is lost.

http://docs.mql4.com/common/marketinfo

thanx for pointing that you. :-)

Will edit that in the upcoming update. Wait for more bugs report.

You really just spammed/resurrected every "trailing stop" thread even if its 4 years old?

In addition you have some common MQ4 errors in the code, so maybe fix these before promoting it too widely..

Re " for (i=0; i<OrdersTotal(); i++) { ... OrderClose()"

See http://forum.mql4.com/48352

just wish to share with more people. no harmful intend.

Understand enthusiasm but you responded to several dead threads, and there are common MQL4 errors in the code ...

Another one, you should check the OrderSymbol as well as the Magic Number.

http://docs.mql4.com/trading/OrderSymbol

So probably just as well you didnt sell it at this stage

Also,

You store stealth data in OrderArray which is resized every tick.

Say this stores entries for orders 1,2 and 3.

OrdersArray[0] = Order #1

OrdersArray[1] = Order #2

OrdersArray[2] = Order #3

If Order 1 is closed , its entries are reset to zero.
On the next tick the OrderArray is resized to hold two orders...

So

OrdersArray[0] = 0 (formerly Order#1)

OrdersArray[1] = Order #2

Computed Trailing Stop Info for Order #3 is lost, and is re-created is that expected behaviour?


For an easy life I suggest you store this info in GlobalVariables using WindowExpertName() and OrderTicket() as a 'handle'....

This will remove need for searching, and also survive restarts.

Also make sure you delete the variables for closed orders.

Another possible bug,

After closing an order, you probably want to stop any further processing and continue to the next one...

This may or maynot be a bug, depending on how complete further tests are, but I think best practice would suggest short circuiting any further processing after OrderClose is successful

These are just from visual inspection of the code.

Perhaps you should go and remove the SPAMMING posts you made . . . I would BAN you for such multiple posts.

The language in the first posts and the spamming of dead threads, suggest it was a promotion/freebie for the website...

" Our mission is to research on effective technical trading methods and building an EA to trade the Forex market."

But I suspect this freebie has not been thoroughly tested with multiple open positions, based on the number of errors found by just looking at the code. Not a great advert? As in its current state will likely cause more harm than good.

I will do the clean up. I have tested the code for my needs. I have no idea what other expect of this EA. I created this EA because I searched the forum for it and it seems like there is no such EA to effectively manage hidden TS. I post on other thread because it seems like other people are looking for such a solution. I may have overdone it but I just wish to help. Guys, don't scare me off. This EA can be useful to many of the members.

I will improve on it on a timely manner. That's if I done get banned. lol...

ydrol, thanx for your input on the code. Appreciate much.

Nothing wrong with honest enthusiasm, but if you had actually stopped to read the other threads , apart from being several years old, some were discussing more advanced trailing stops than what you have presented here, (eg traling stops based on Market conditions - Volatility Stops , Dynamic Trailing Stops) - so your posts would just waste those people's time in those particular threads if they were still following. What you are doing isn't that unique or new, so it should at least be robust.

That may be so, but the code you posted has several beginner MQL4 bugs and will close orders on unrelated charts for example. It has issues with multiple charts, and multiple open positions, but the way in which you promoted it suggested it would be some brilliant robust new solution, even mentioning you could have charged for it, rather than simply stating - "here's my code what do you think guys" which might have got a better response. (along with not spamming dead threads without even reading them).

As mentioned in the limitation. One pair one EA. This EA will manage pair with similar magic number. So yes, at the moment, if you have the same magic number for other pairs, it will go haywire. Even though I have mentioned it in the limitation, but I guess it is not clear enough for not saying that it will go haywire. Anyway, thank to ydrol input, I will update my EA today. I will make it manage multiple pairs from one EA only.

Prior to creating this EA, I have done search on stealth trailing on FF (browse over 100 of threads). I have downloaded a lot of scripts and EAs too (20+ of them). Some manage one trade, most do not work at all as they are many years old. Some say they are hidden trailing stop but yet they are not. So, I decide to create a brand new one. I am not a fan of recreating a solution just for the credit. ydrol, if there is a working solution out there, just post it here. It can benefit members.

As of spamming other threads, my view is this. I had searched the FF for a trailing solutions that I want to no avail. So, from my point of view, I am solving a 4 year old problems. I know many people are looking for a working stealth solution, and here I have the solution and thus I share. If the moderators think I am spamming and banning me for it, I really can't help it. I believe what I have done is right by pointing people to a solution. I have learnt much from the forex community and wish to give back. I wish to do my part but if the moderators feel otherwise about my approach, I really have nothing to say. I must apology for sharing too much.

There maybe an existing solution out there, but I didn't find it. (Probably didn't look in the right direction. Sorry for that) As such, in my mind, it is an exciting brand new solution.

You guys should expect an update soon.

Yes, a bug indeed.

And


So by default the EA will attempt to manage all manual orders across all pairs (even charts it is not attached to), using the wrong Market prices, because there is no test "OrderSymbol()=Symbol()" in the loop, a very simple check.

I noted the mistake. I have to rethink the logic. Prior to the release, the array has a fix size of 10, then I thought to making it dynamic with OrdersTotal(). If it is dynamic, it will have array resizing issue. It delete the last element rather than the reset zero element.

Now that i know how to get the bid ask price of other pairs, it won't make sense to check "OrderSymbol()=Symbol()". Yes, thank for pointing that out. I could have checked that to stop it from managing other pair.

ydrol, thank you for spending so much time to point out the programming issue. I think I will remove the EA first before posting an updated version.

No problem.. Main things I think are:

- using global variables to store SL/TP (prefix variable names with WindowExpertName() + OrderTicket() ) - this will make lookups simpler , and also make the code more resilient.
- Only storing data you will access later.

Also maybe:

- To save CPU, Keeping track of the max and min prices at which at least one order will have its SL/TP hit., and only calling the bulk of your code with this price level is hit, after closing affected orders reset your min/max values.
- Sending a real OrderModify with wider stops (eg +/- 10 pips) for safety. (cant remember if your code does this). This could be sent whenever the stealth value moves another 10 pips to reduce traffic.

I am almost there to finish the debugging.

Unable to trace the last order. Very hard to debug as I need to wait for the price to fall / rise to the trigger level.

Is GV with potentially hundreds of record viable? Won't the read and access becomes even slower?

Why do you need hundreds of records? For each order I would start with two GV's, one for the SL, one for the TP, The other data is stored in the terminal (accessible via OrderXXXX functions) so I would keep it there and not bother to duplicate it.

As you progress you may find you need to add more GV's per order, but only add if needed (ie different for each order), and not already available via OrderXXXX