AllPairTradeManager(APTM)

[milanese]

Hi Milanese,

[hide]There is still a trade-manager function I miss, which was discussed years ago at FF.

Taken into account, that the critical part of an opened order is the trading hour at open, current volatility and trend direction. With the ATR-indi (set = 1), by live-trading, we can display the current and past volatility of the candles (price-action) in any timeframe, in addition we have to consider also the trend to designate and for confirmation of the price direction.

That is the daily and common scenario, we have to deal with by discrete trading, every day intraday and live.

However, if we use an automatic trade-manager in times of absence, we do not know the current market- resp. price-conditions, when the robot opens a position and performs stacking by default, we do not have a feedback if price-action seems to be stable and will continue.

There might be news or other events, the price-action will perform choppy.
In 70% of the market scenarios, we have to consider also consolidation periods with minor volatility and permanent slightly ranging movements, we also cannot predict in advance.
It is a another site to bother.
I´d like only remark, to omit trading hours (news, open), when we expect that price will move choppy or by spikes.

Back: Sometimes after opening the price will turn in the opposite direction.

The question in advance arise, what to do, when price turns just in time after opening?

Assuming that we use in the opening period a bigger lotsize with the intention to take partial close within a narrow/small distance and partial close did not perform.

What would we do by discrete trading?

We can hedge this position considering a floating loss or we can just in time take partial close < open to minimize/reduce the further risk and loss.

By using partial close in loss we will get the chance to reduce or to compensate the loss partly, we can close at BE or even in profit, if price turns by correction again in the order direction.
In the worst case, we will get closed this position in loss by SL, but we have already reduced in advance a bigger loss.

I tried to describe the basic scenario by using the HP, especially in regard to the PC-function with higher risk resp. lotsize, when the TM runs automatically. There are further conditions to consider, but that would be confusing.[/hide]
I did not mentioned, that there are further possibilities e.g. with alarm alerts submitted to smartphone-app or via sms, email to close orders manually, when mobile.

Comments or questions are welcome…

@Milanese. Just thoughts, ideas, not an urgent request for future improvements.

Trade well friends
Over60

Hi Over60,

I will think about some more alert functions, like e-mail alerts for the trade-operations as optional for the next update, other options you miss you should be clear specify, as I did not understand if you want too other optionals see ..

Cheers

Tommaso

[Jollyroger]

Since comments were requested by Over 60 on his suggested additions to APTM I have a few.

I can see where trading hours would be a useful addition to the TM and feel that that would be a desirable addition for those who do not have the time to monitor their trades closely.
One of the things I like about this trade manager is it's simplicity. To me a trade manager's functions are to manage trades. Specifically to set a stop loss or take profit and to manage movement of those two things. We can stretch a point and include hedging and trade reversal without getting away from a straight trade manager.
The proposal to partially close a losing position makes no sense to me. We set a stop loss to correct mistakes in our anticipation and get out of a trade. Why would we want to accept additional losses by partially closing a losing trade? I could see the addition of an exit at a certain level and a re-entry based on a trend change parameter in the TM but reducing size and holding a losing position I believe is a fast track to the poor house.
Roger

[milanese]

Since comments were requested by Over 60 on his suggested additions to APTM I have a few.

I can see where trading hours would be a useful addition to the TM and feel that that would be a desirable addition for those who do not have the time to monitor their trades closely.
One of the things I like about this trade manager is it's simplicity. To me a trade manager's functions are to manage trades. Specifically to set a stop loss or take profit and to manage movement of those two things. We can stretch a point and include hedging and trade reversal without getting away from a straight trade manager.
The proposal to partially close a losing position makes no sense to me. We set a stop loss to correct mistakes in our anticipation and get out of a trade. Why would we want to accept additional losses by partially closing a losing trade? I could see the addition of an exit at a certain level and a re-entry based on a trend change parameter in the TM but reducing size and holding a losing position I believe is a fast track to the poor house.
Roger

Hi Roger,

my question is how would you like this time-management for the APTM as I see the importance for the trading-times for opening a position, but in managment of open positions I saw it so far not..

Cheers

Tommaso

[Jollyroger]

Hi Tommaso:
I quite agree with you that "hours" settings for exits would be of small value to most traders in a trade manager. What I personally would find useful would be an "exit time" setting which I would find useful to close a trade at a particular time. Most of my trading occurs in the London, New York overlap during which there are two generally predictable reversals. Also there are several other reversals and a Friday close where it becomes desirable for me to close trades. Most of the time I am available to do so but there are times when this is not possible. Other traders might also wish a "time close" for the same or different reasons.
In rereading my earlier post I was not at all clear when I used "trading hours" rather than "time close".
Roger

[milanese]

Hi Tommaso:
I quite agree with you that "hours" settings for exits would be of small value to most traders in a trade manager. What I personally would find useful would be an "exit time" setting which I would find useful to close a trade at a particular time. Most of my trading occurs in the London, New York overlap during which there are two generally predictable reversals. Also there are several other reversals and a Friday close where it becomes desirable for me to close trades. Most of the time I am available to do so but there are times when this is not possible. Other traders might also wish a "time close" for the same or different reasons.
In rereading my earlier post I was not at all clear when I used "trading hours" rather than "time close".
Roger

thank you for clarifying this, yes this idea is something I will put on the to do list for the next update.

Cheers

Tommaso

[r1ch4rd]

Tommaso
Firstly thank you for this fantastic bit of kit.
I am having an issue between the screen and my index fingers unfortunately, and I would greatly appreciate a little guidance.

My aim is:
When dropping the "RAD multi level scrip" onto the chart it places a 30 pip Stop on the opening of a position.
When +20 points is reached, it closes 50% and moves the remaining trade to opening value +5 points.

I know this is a basic setting procedure, and I apologize for my ignorance. I have had several attempts in getting it to work after going over your instructions without success.

Richard

[milanese]

Tommaso
Firstly thank you for this fantastic bit of kit.
I am having an issue between the screen and my index fingers unfortunately, and I would greatly appreciate a little guidance.

My aim is:
When dropping the "RAD multi level scrip" onto the chart it places a 30 pip Stop on the opening of a position.
When +20 points is reached, it closes 50% and moves the remaining trade to opening value +5 points.

I know this is a basic setting procedure, and I apologize for my ignorance. I have had several attempts in getting it to work after going over your instructions without success.

Richard

the attached setfile should do what you want..

r1ch4rd.set

Cheers

Tommaso

[r1ch4rd]

Tommaso
Firstly thank you for this fantastic bit of kit.
I am having an issue between the screen and my index fingers unfortunately, and I would greatly appreciate a little guidance.

My aim is:
When dropping the "RAD multi level scrip" onto the chart it places a 30 pip Stop on the opening of a position.
When +20 points is reached, it closes 50% and moves the remaining trade to opening value +5 points.

I know this is a basic setting procedure, and I apologize for my ignorance. I have had several attempts in getting it to work after going over your instructions without success.

Richard

the attached setfile should do what you want..

Cheers

Tommaso

You Rock, thank you!

[taipan]

Is there any script for buy & sell trade with magic no. as external variable. Could not find it in this forum.

Maybe some one could share it here or point me to the download page.

Thanks.

[Over60]

try this link

http://www.stevehopwoodforex.com/phpBB3 ... 90#p117759


Trade well

Over60