Automatic Loss Recovery System (ALR) - read this first

[Wapen]

Attached is the exact copy of Dustin’s ALR EA(spreads and swaps are taken into consideration). It is used with manual trading just like explained in Dustin’s Videos

I have been working with my programmer for 2 weeks now, Once in a while I find some bug in an EA and I ask my programmer to update it, But I believe this is now BUG free, But still if you find any BUG,let me know.

Working of this EA is self-explanatory, but still I will try to explain.


Max Order[/b] : maximum number of orders

Magic number: Leave it as it is unless you are placing a 2nd trade.

Enjoy Guys /Gals with my Paid EA

HI Wealthmaster. The EA is working but there seems to be a calculation problem as its not breaking even or even with a profit. After 3 sets of trades it close with a negative!!! See the screenshot attached!

Wapen

[wealthmaster]

Attached is the exact copy of Dustin’s ALR EA(spreads and swaps are taken into consideration). It is used with manual trading just like explained in Dustin’s Videos

I have been working with my programmer for 2 weeks now, Once in a while I find some bug in an EA and I ask my programmer to update it, But I believe this is now BUG free, But still if you find any BUG,let me know.

Working of this EA is self-explanatory, but still I will try to explain.


Max Order[/b] : maximum number of orders

Magic number: Leave it as it is unless you are placing a 2nd trade.

Enjoy Guys /Gals with my Paid EA

HI Wealthmaster. The EA is working but there seems to be a calculation problem as its not breaking even or even with a profit. After 3 sets of trades it close with a negative!!! See the screenshot attached!

Wapen

I think it is designed for currencies only..

[wealthmaster]

Attached is the exact copy of Dustin’s ALR EA(spreads and swaps are taken into consideration). It is used with manual trading just like explained in Dustin’s Videos

I have been working with my programmer for 2 weeks now, Once in a while I find some bug in an EA and I ask my programmer to update it, But I believe this is now BUG free, But still if you find any BUG,let me know.

Working of this EA is self-explanatory, but still I will try to explain.


Max Order[/b] : maximum number of orders

Magic number: Leave it as it is unless you are placing a 2nd trade.

Enjoy Guys /Gals with my Paid EA

HI Wealthmaster. The EA is working but there seems to be a calculation problem as its not breaking even or even with a profit. After 3 sets of trades it close with a negative!!! See the screenshot attached!

Wapen

I have gone through your chart again.. and reason it gave you a loss because of slippage.. EA closes the position when one side Tp is hit then other side position is closed by market order.


your two positions were closed at 1333.44 at tp

And the remaining position is closed at 1337 (i.e after 2 sec)

And in those 2 seconds you got a slippage of $3.56

I think currencies does not move wild like Gold..

Any suggestion?

[kotsh]

Attached is the exact copy of Dustin’s ALR EA(spreads and swaps are taken into consideration). It is used with manual trading just like explained in Dustin’s Videos

I have been working with my programmer for 2 weeks now, Once in a while I find some bug in an EA and I ask my programmer to update it, But I believe this is now BUG free, But still if you find any BUG,let me know.

Working of this EA is self-explanatory, but still I will try to explain.


Max Order[/b] : maximum number of orders

Magic number: Leave it as it is unless you are placing a 2nd trade.

Enjoy Guys /Gals with my Paid EA

HI Wealthmaster. The EA is working but there seems to be a calculation problem as its not breaking even or even with a profit. After 3 sets of trades it close with a negative!!! See the screenshot attached!

Wapen

I have gone through your chart again.. and reason it gave you a loss because of slippage.. EA closes the position when one side Tp is hit then other side position is closed by market order.


your two positions were closed at 1333.44 at tp

And the remaining position is closed at 1337 (i.e after 2 sec)

And in those 2 seconds you got a slippage of $3.56

I think currencies does not move wild like Gold..

Any suggestion?

I wold suggest that the EA monitors the net profit of the main + ALR trades and when it is at BE (or small profit) it closes everything instantly. More reliable in my opinion than depending on TP and SL levels.

The EA should still put the TP and SL levels though, in case the EA stops working or you lose connection to your account.

Also, i would suggest to add some form of baasket trading options, so that the EA monitors either only original trade, or all trades on pair, or all trades on the account. Which trades to monitor would be one of the input parameters.

The code could be taken from Multi Purpose Trade Manager or similar EA.

If it is easy to incorporate in the code I believe it would be a very valuable addition.

Cheers

[wealthmaster]

I wold suggest that the EA monitors the net profit of the main + ALR trades and when it is at BE (or small profit) it closes everything instantly. More reliable in my opinion than depending on TP and SL levels.The EA should still put the TP and SL levels though, in case the EA stops working or you lose connection to your account.

Yes, Can be done

Also, i would suggest to add some form of baasket trading options, so that the EA monitors either only original trade, or all trades on pair, or all trades on the account. Which trades to monitor would be one of the input parameters.

The code could be taken from Multi Purpose Trade Manager or similar EA.

Can you explain in detail?

[Wapen]

I wold suggest that the EA monitors the net profit of the main + ALR trades and when it is at BE (or small profit) it closes everything instantly. More reliable in my opinion than depending on TP and SL levels.The EA should still put the TP and SL levels though, in case the EA stops working or you lose connection to your account.

Yes, Can be done

Also, i would suggest to add some form of baasket trading options, so that the EA monitors either only original trade, or all trades on pair, or all trades on the account. Which trades to monitor would be one of the input parameters.

The code could be taken from Multi Purpose Trade Manager or similar EA.

Can you explain in detail?

Hi, I also suggest that the EA takes over the original trades TP ones the first ALR trade have been triggered.
thus one can trade with a initial smaller TP and only when ALR are triggered the 1.3 ratio kick in!

Wapen

[kotsh]

I wold suggest that the EA monitors the net profit of the main + ALR trades and when it is at BE (or small profit) it closes everything instantly. More reliable in my opinion than depending on TP and SL levels.The EA should still put the TP and SL levels though, in case the EA stops working or you lose connection to your account.

Yes, Can be done

Also, i would suggest to add some form of baasket trading options, so that the EA monitors either only original trade, or all trades on pair, or all trades on the account. Which trades to monitor would be one of the input parameters.

The code could be taken from Multi Purpose Trade Manager or similar EA.

Can you explain in detail?

Hi Wealthmaster,

the EA would have the following input parameter:
- Trades_to_monitor:
1: Only Initial_TradeID+ALR trades: means the EA will monitor the net profit of the original trade that started ALR recovery -- this is how the EA works by default
2: Monitor net profit of all trades on the pair regardless if they were opened by ALR or any other means
3: Monitor net profit of all trades on the account regardless if they were opened by ALR or any other means

When the monitored trades reach BE or small profit the EA closes all the trades it is monitoring at once.


This is useful in the following examples:
You have a losing position on a pair which triggered ALR and you are waiting for the trades to reach a net profit of BE (+ small profit), but then you see another good opportunity on the charts and enter a separate trade on the same pair,the ALR EA would not change anything in the eay it operates, it would just also include the profit of the separately opened trade in its net profit calculation and potentially reach overall BE on the pair sooner.
Same logic applies to the EA monitoring the whole account profit.

For me personally the most important thing after a loss is to recover it ASAP in by any means, not necessarily only through the ALR recovery trades.

One could apply another trade manager EA on another chart to monitor the net profit all the open trades on the pair or account, but it would be nice to have it part of the ALR EA.

in a nutshell, it gives you the flexibility as to what you want to consider contributing to the recovery of the losing trades without depending on your broker to fill the TP/SL levels.

Does this make more sense now?

[wealthmaster]

I wold suggest that the EA monitors the net profit of the main + ALR trades and when it is at BE (or small profit) it closes everything instantly. More reliable in my opinion than depending on TP and SL levels.The EA should still put the TP and SL levels though, in case the EA stops working or you lose connection to your account.

Yes, Can be done

Also, i would suggest to add some form of baasket trading options, so that the EA monitors either only original trade, or all trades on pair, or all trades on the account. Which trades to monitor would be one of the input parameters.

The code could be taken from Multi Purpose Trade Manager or similar EA.

Can you explain in detail?

Hi, I also suggest that the EA takes over the original trades TP ones the first ALR trade have been triggered.
thus one can trade with a initial smaller TP and only when ALR are triggered the 1.3 ratio kick in!

Wapen

It already does...

[wealthmaster]

I wold suggest that the EA monitors the net profit of the main + ALR trades and when it is at BE (or small profit) it closes everything instantly. More reliable in my opinion than depending on TP and SL levels.The EA should still put the TP and SL levels though, in case the EA stops working or you lose connection to your account.

Yes, Can be done

Also, i would suggest to add some form of baasket trading options, so that the EA monitors either only original trade, or all trades on pair, or all trades on the account. Which trades to monitor would be one of the input parameters.

The code could be taken from Multi Purpose Trade Manager or similar EA.

Can you explain in detail?

Hi Wealthmaster,

the EA would have the following input parameter:
- Trades_to_monitor:
1: Only Initial_TradeID+ALR trades: means the EA will monitor the net profit of the original trade that started ALR recovery -- this is how the EA works by default
2: Monitor net profit of all trades on the pair regardless if they were opened by ALR or any other means
3: Monitor net profit of all trades on the account regardless if they were opened by ALR or any other means

When the monitored trades reach BE or small profit the EA closes all the trades it is monitoring at once.


This is useful in the following examples:
You have a losing position on a pair which triggered ALR and you are waiting for the trades to reach a net profit of BE (+ small profit), but then you see another good opportunity on the charts and enter a separate trade on the same pair,the ALR EA would not change anything in the eay it operates, it would just also include the profit of the separately opened trade in its net profit calculation and potentially reach overall BE on the pair sooner.
Same logic applies to the EA monitoring the whole account profit.

For me personally the most important thing after a loss is to recover it ASAP in by any means, not necessarily only through the ALR recovery trades.

One could apply another trade manager EA on another chart to monitor the net profit all the open trades on the pair or account, but it would be nice to have it part of the ALR EA.

in a nutshell, it gives you the flexibility as to what you want to consider contributing to the recovery of the losing trades without depending on your broker to fill the TP/SL levels.

Does this make more sense now?

Yes, Excellent idea, But the problem is this is the major add-on to the EA and my programmer will charge me extra for this .. I will see

[kotsh]

there is most of these basket trading functions in the code of Multi-Purpose trade manager EA on this site.
You can add trades to the basket by magic number or by comment, or by monitoring the whole account.

The only option that is not there is to configure it to manage a basket of trades based on only on the currency pair. (the setting "manage this pair only" doesn't work with the basket configuration). So basically the programmer could re-use all the code and only develop this missing function,

Cheers