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Need order management EA
Sarkel

Member Since Aug 11, 2011  21 posts Nasim (Sarkel) Apr 26 2013 at 16:43 (edited Apr 26 2013 at 16:51 )
Hello!
I am getting really frustrated when my perfectly executed trade is closing at the stop and immediately reverses to continue as predicted.
Here is a simple example of the trade that was supposed to make 400pips but instead closed at breakeven.

or this few weeks ago

I suspect that broker has an eye on my stops, and as we know almost all brokers are trading against their clients. So, the solution seem to be - do not advertise your actual stops to the broker.
When I was working with Blessing EA, I really liked how it manages the trades. I wonder if someone can help me design an EA that will manage orders in the similar manner:
- not to advertise actual stops to the broker, even though you can place a bogus stop that is far away from the market;
- have a flexible execution delay, so even if level is reached it will wait for X minutes to close the order.
If monetary compensation doesn't interest you I can offer to tell you how to make 200 pips on the market that moves only 60 pips risking only 40 pips. Risk/Reward= 5 to 1. That is the trade that I completed today with NZDJPY. As you can see: delay in executing SL would save me 20 pips.

When I open the terminal market already moved more than 100 pips, but I saw that there is still opportunity for at least 50-60 points, so I took it. It is not alwayd that great, but when it is not going my way, I get out with small losses that are 4 to 5 times smaller than potential profit..
I trade and execute all my orders manually, but I feel that a lot of those management tasks I can give to EA.
Please write. Thank you.

You see the shit on the street, you do not step into it.
FXRX

Member Since Mar 01, 2013  70 posts FXRX May 05 2013 at 06:47
Sounds interesting... what can you tell me about it?

You win some, you lose some.
benptz

Member Since May 08, 2013  2 posts Veniamin Vorobev (benptz) Jun 22 2013 at 21:34
Я бы сказал пипец, торговля ни чем не примечательна , могу тебе все исправить

Tassiefx

Member Since Jul 06, 2011  5 posts Kyle (Tassiefx) Jul 16 2013 at 17:33
Sorry to those that think what i am about to say is naive, but I have been trading for a number of years now and don't necessarily believe everything I read.
If you are with a reputable broker that is not a 'Bucket Shop', ie you are with STP or ECN broker, do you really believe they would be worrying about taking out your stops. The feed is the same with whoever the trader is at a broker, so them manually manipulating a price to stop you out would on the other side be allowing a TP to possibly be hit. A SL should be positioned where a trade has failed anyway, so if it hits that stop, you shouldn't want to be in it anyway with the exception of news spikes etc that you should be aware of and be prepared for.

The more I learn with Fx, the luckier I will seem to be :)
Sarkel

Member Since Aug 11, 2011  21 posts Nasim (Sarkel) Aug 16 2013 at 14:07 (edited Aug 16 2013 at 14:10 )
Kyle, Everyone believes what he/she wants to believe
Here is another example from yesterday.

My point is not that broker (even reputable) hunts your stops; that is not a big discovery anyway.
My point is - half of my trades close prematurely with one minute bar.
If there is a EA that can handle stop-loss on time out then it would not close.
For example, beside the main parameter ( SL = 'price' ) I see these other parameters for this EA:
SL_Timeout = 10 minutes : which means - if price went into SL territory and was there for at least 10 minutes EA will close the position at whatever the price might be. If price went into SL territory and stayed there for 6 minutes, nothing happens and position is intact.
There is a risk, of-course, that in 10 minutes price move so deep into SL territory that it would be to late, But that situation usually happens during news and this setup is not for trading during news.
However, because of price moving too deep, another parameter can be introduced - SL_Shift
SL_Shift = 20 : Which means that if price moved 20 or more points deeper than SL EA will close the position regardless of of 10 minutes timeout. You can consider this as a force-major or true SL.
Another parameter would be SL_Count
SL_Count = 2 : Which means that EA counts how many times price went into SL territory. In this case 2 would be the maximum allowed. It means that price is allowed to get into SL territory two times and stay there for less than 10 minutes, but if price gets there the third time EA will close position at specified SL.

I think this simple order handler will be very useful to deal with this nuisance when you perfectly calculated entry is closed at the worst possible bar.

Yesterday, that entry was calculated as a result of previous day trading and volume levels. No one can predict how much the price can deviate from that level. If I had that EA I would be 100 pips up on that position. Now I'm with -20. In the last two month I had tons of cases like this - all closed with a single one minute bar. Regardless of the fact 'who' is closing or moving that bar closer to my SL - order handler EA will be very helpful.

PS. EA Blessing has this feature of timing out for closing and opening position.



You see the shit on the street, you do not step into it.
Tassiefx

Member Since Jul 06, 2011  5 posts Kyle (Tassiefx) Aug 27 2013 at 05:22
That is fair enough wanting that sort of feature, however, if you are placing trades based on an accepted level of risk, the timeout before trade closing could blow that S/L out to more than your risk tolerance. Imagine if you had a trade in and NFP or interest rate news was announced, creating a large spike, possibly more than 20 pips in a one minute period.

Maybe, in the interests of a person that does want what you suggested (not my cup of tea, but there are many methods and I have simply chosen what works for me), possibly if you had an ea do that, but it still had a fail safe close of trade. So, for example, it can go past S/L for 1 minute, but if within that minute, it passes a pre-defined level, it will close the trade immediately.

Possibly food for thought.

The more I learn with Fx, the luckier I will seem to be :)
Tassiefx

Member Since Jul 06, 2011  5 posts Kyle (Tassiefx) Aug 27 2013 at 05:22
Sorry if I sounded blunt about Brokers stop hunting you, but it has seemed that most people blame this for their failures, but do not realise that if they changed their prices for one person, they change them for all, and there are much bigger trades in than ours that could be affected positively to smash our small relative trade out.

I have also had many times when the quoted price has taken my TP to the pip and retraced. An example being my CADJPY Trade last week

The more I learn with Fx, the luckier I will seem to be :)
Dud45

Member Since Jan 19, 2011  1 posts Dud45 Aug 27 2013 at 23:53
Hi Nasim,

I've taught myself to code recently so that I could build myself a pivot EA. I'd have to look into the timeout component but I'm reasonably confident I could make a workable EA for you. Are you still interested?

Cheers,

Dud

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