Hi guys,

Just wanted to let you know that I will be releasing a free trade manager EA for everybody to use.

Some of the folks here will be familiar with my trailing stop EA that I created. If you are not familiar with it, you can read about it over at the donnaforex forum(http://www.donnaforex.com/forum/index.php?topic=3193.0)

This Trade Manager EA is the next step in the evolution of the trailing stop EA and has some exciting upgrades. It will be available for download from my blog soon. I am not a blogger of any sort, so don't expect too much from the site. I have simply chosen to have one central point for much of the work that I do on EA's.

I am just doing some final tweaking and I hope to release it tomorrow, bugs and all

Please feel free to use this thread to discuss or raise any issues related to this EA. I will also consider feature request but please understand that I cannot amend the EA for every single person out there.

I also don't wish to be rude but I don't often respond to PM's with requests. If you want a feature, drop by the blog and make a comment. I don't write EA's on request as it is not worth my time and effort, but I do make an attempt to improve the work that I have made freely available.

Oh yeah the blog is at www.compu-forex.com

Hi Ben,

Long time......

To answer your question, yes and no

It has an internal TP setting that it uses as a reference for reducing the trailing stoploss. As the price action approaches your TP setting, the trail reduces by the same amount that price action is away from your TP. The trailing SL will pretty much be at its minimum eg 5 pips when the price hits the internal TP, but it won't actually set the TP.

I am also working on a version that has some simple trade logic so that people can study settings in the tester/optimiser for different currency pairs and timeframes. Nothing fancy, just 2 moving averages or something similar. Unfortunately it's never as simple as just adding the logic because the tester doesn't work the same as the terminal when looking across currencies

Ok Ben, for you I will make a plan. How would you like the auto TP to work?

BTW, I have found a bug related to pending orders, so please refer to my blog for the latest.

I agree on the turmoil in the markets. It was one of the main reasons that I have been sitting on the sidelines for the last year.

Of course, nothing is ever simple with you Ben

Ok, give me a few days.

I think I understand point 1 & 4. Just run by me the difference between point 2 & 3, as the EA will set the TP the moment it detects an order, so in theory the open price & the current price should be the same?

I am also a bit uncertain about point number 5, can you expand on it?

BTW, there is already some Auto SL setting logic in the EA.

   compuforexpamm posted:
   Of course, nothing is ever simple with you Ben

Ok, give me a few days.

I think I understand point 1 & 4. Just run by me the difference between point 2 & 3, as the EA will set the TP the moment it detects an order, so in theory the open price & the current price should be the same?

I am also a bit uncertain about point number 5, can you expand on it?

BTW, there is already some Auto SL setting logic in the EA.


The difference between 2 and 3 is the spread and/or lag.
eg. I open manually @ 1.20000, a few pips later the trail EA picks it up and price is 1.19965, so option 2 would set tp @ 1.2000 plus target pips, option 3 would set it at 1.1965 plus target pips.
It also allows for any connection outages where the difference could be more than just a few pips.

option 5 means, if the TP has already been exceeded the order should be closed immediately
eg. order opened at 1.20000 with the EA set to TP at 20 pips, for whatever reason, fast market, disconnect, has caused price to be beyond 1.20200, order should close right away
obviously I you have selected option 3 then price would be set at 20 pips from the current price so option 5 is not needed when option 3 is active, only when option 2 is active.

Sorry to over complicate things, but disconnects happen and slippage too. Only last week Alpari allowed 27 pips of slippage on an order which had a SL set 4 hours prior. I'm all about ass covering.