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Discipline Trader: Are you?
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Member Since Mar 28, 2011 666 posts
Trick or Treat (ForexScam)
Aug 27 2011 at 12:28
If you trade manually, you really need to download this FREE software that I created for MetaTrader4.
It is a simple risk management expert advisor that allows you to INPUT your trading plan. Therefore, even if you stray away from your trading plan you will still be protected. We recommend running Discipline Trader EA on a VPS to ensure safety of your funds and to eliminate any technical issues that you may experience while being at your trade desk. We have also added a feature that automatically submits a fixed stop loss to all your trades . just do it! |
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Member Since Mar 28, 2011 666 posts
Trick or Treat (ForexScam)
Aug 27 2011 at 12:28
Version 1.1 includes a Stoploss function that will automatically set a Fixed Stop Loss on all orders (only if open order does not include a stoploss: This function will not override a stoploss value that you decided earlier). This is a handy feature for ECN brokers that do not allow a market order to be executed with Take Profit and Stop Loss in the OrderSend parameters. This eliminates the extra step of adding a Stoploss to our orders and ensures that all trades have a Fixed Stoploss. We are currently using a 50 Pip stop loss on our managed accounts.
Feature Added Fixed Stoploss for all open orders Commonly Asked Questions Attach EA on any chart or timeframe Only 1 EA is needed per account Basket Values are in $$$ and not Pips EngageStopOut must be True to engage closing conditions based on Discipline Trader’s setting Monitors All open positions from different magic numbers and currency pairs If your trades are closed at your x % loss or through Basketprofit/loss, the EA will continue to work EX4 file must go within the metatrader4/experts/ folder Please email: idraw@pipinvestment.com to receive downloading instructions. just do it! |
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Member Since Mar 28, 2011 666 posts
Trick or Treat (ForexScam)
Aug 27 2011 at 12:29
Expert Advisor attached. Enjoy
just do it! Attachments:
DisciplineTrader.ex4
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Member Since Mar 28, 2011 666 posts
Trick or Treat (ForexScam)
Aug 29 2011 at 14:33
If you downloaded the attached file, please update with this EX4 file. I accidentally uploaded an old testing version with 1 bug that affects the STOPOUT parameter.
If you have downloaded by contacting idraw@pipinvestment.com then you have the correct version - just do it! Attachments:
DisciplineTrader_a4.ex4
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Member Since Jan 14, 2010 261 posts
James_Bond
Aug 31 2011 at 14:27
Checked your EA. I personally prefer to have my trading plan written on paper.
In any case, the EA isn't good for someone who's trading multiple charts and using EA's - but thanks anyway. |
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Member Since Mar 28, 2011 666 posts
Trick or Treat (ForexScam)
Sep 01 2011 at 04:11
James_Bond posted: In any case, the EA isn't good for someone who's trading multiple charts and using EA's - but thanks anyway. How so? This EA can be applied to 1 chart, which controls all orders. As far as using this with other EA's with trading logic, well this all depends on the logic within others EA's. As we have seen, many EA's have poor risk control and mostly concentrate on opening a position and not necessarily how to manage the position once its open. Still intended for manual traders, but can act as a stopout protocol for those aggressive EA's just do it! |
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Member Since Mar 28, 2011 666 posts
Trick or Treat (ForexScam)
Sep 01 2011 at 04:13
(edited Sep 01 2011 at 04:13 )
James_Bond posted: Checked your EA. I personally prefer to have my trading plan written on paper. A piece of paper often floats around the trading desk and is often completely forgotten when the markets are volatile. This EA is intended to back up your trading plan as a SAFE GUARD - You know, when your emotions are getting the best of you and you can not follow your trading plan. 
just do it! |
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Member Since Mar 28, 2011 666 posts
Trick or Treat (ForexScam)
Sep 22 2011 at 11:29
Today was one of those days that this software saved me. An automatic STOPOUT at 2% Drawdown.
http://www.myfxbook.com/members/pipinvestment99/risk-capital-investors-fund/124751 -0.92% -0.37% -0.44% -0.29% = 2.02% loss . The EA will automatically start closing all open positions once your Draw-down is > DD% Instructions Here - http://www.pipinvestment.com/Menu/972 just do it! |
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Member Since Jun 26, 2011 90 posts
DanielNWA Trading (Danielnwa)
Sep 22 2011 at 20:28
Thank you for this Will! I think this is a GREAT idea. I think this is something that could/should actually be integrated into trading platforms like Meta Trader, cause EVERYONE should have PROTECTION in place to prevent disaster. (And no, the margin call is usually 'a bit' to late in my mind=) Especially when it comes to automated trading where it's much easier to be inattentive or not fully grasp the full range of what one's doing. I guess it's something most people just don't want to consider, because it's unpleasant(let's face it we all like to think about winning more than losing right?), but as you know preventing large losses is simply THE KEY, to profits.
Thanks again! Jud. Don't work hard, work smart. |
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