Automatic Loss Recovery System (ALR) - read this first

Post your EA's using ALR here
ronemshoff
Trader
Posts: 31
Joined: Sat Dec 17, 2011 6:05 pm

Automatic Loss Recovery System (ALR)

Post by ronemshoff »

wealthmaster » Wed Jul 09, 2014 2:07 pm wrote: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.

Open a trade manually without setting up stoploss you can set your takeprofit and then attach the EA.


Inputs

Ticket: Leave it as -1 and it will detect itself (Unless you are placing a 2nd trade in a single currency pair) After placing a 2nd trade in a single pair open new chart and attach EA with it’s ticket number with different magic number so that EA can differentiate between those series of trades)

*2nd trade= Let say you buy a pair and it hit stoploss and in ALR mode( so It is opening series of trades to recover from a loss) meanwhile you get another entry signal on the same currency pair from your manual trading system, You can take this new signal and open new chart, attach EA with it’s trade ticket number and with different Magic number so EA can differentiate between the 1st trade and its series of trades and 2nd trade and it’s series of trades.

XYZ: Is the amount in USD that you want to make in worst case scenario i.e. after going into ALR mode.

Stoploss: put the stoploss in pips i.e, ALR zone

Takeprofit : Put the take profit in pips ( usually 3 times the stoploss ) This Take profit only becomes active when our stoploss is hit ( i.e when it goes into ALR mode)

Max Order
: 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 ;)
Wealthmaster,
i think this version - 8.3 - is all i need.
Question, after the trade goes into ALR mode, can you change the XYZ number without throwing the rest of the functions and settings off?? I might want to increase the XYZ number if the orders hang around for days and builds up negative swap.

Question 2, i assumed if you changed the max orders number the EA calculates to break even for any number. That doesnt seem to be the case. For example if you enter max number of 6 you get a set of 6 subsequent orders with different lot sizes as you would expect. However if you enter max number of 5 (or 4, or 3, etc) with the same SL and TP, you get the same set of subsequent orders as in 6, but with the exception of order #6. But if you enter 7, you get some of the same early numbers but different later numbers. Have i got this right?? I prefer a max of 6. What should the subsequent orders be for 6??
Please elaborate. thnx ron
aaaaaa
Posts: 6
Joined: Mon Jan 06, 2014 5:08 am

Automatic Loss Recovery System (ALR) - read this first

Post by aaaaaa »

Hi guys;
I found this thread after watching the youtube video. Great work you have done. I wonder is there a calculator that would lets say from 6 turn start decreasing positions ?
Thanks
User avatar
TraderJoeForex
Trader
Posts: 1157
Joined: Fri Mar 08, 2013 10:29 pm
Location: South London

Automatic Loss Recovery System (ALR) - read this first

Post by TraderJoeForex »

Running ARL2 live now to take over from HGB once filled .. could be the perfect marriage :clap:
ernest02
Trader
Posts: 28
Joined: Tue Jan 29, 2013 11:04 am

Automatic Loss Recovery System (ALR) - read this first

Post by ernest02 »

TraderJoeForex » Tue Mar 31, 2015 6:55 pm wrote:Running ARL2 live now to take over from HGB once filled .. could be the perfect marriage :clap:
Can you report any results yet?
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

Automatic Loss Recovery System (ALR) - read this first

Post by Dewey McG »

Hello all,

I posted the strategy I am using with ALR here: http://www.stevehopwoodforex.com/phpBB3 ... 10#p119242
User avatar
TraderJoeForex
Trader
Posts: 1157
Joined: Fri Mar 08, 2013 10:29 pm
Location: South London

Automatic Loss Recovery System (ALR) - read this first

Post by TraderJoeForex »

ernest02 » Thu Apr 09, 2015 8:29 am wrote:
Can you report any results yet?

I actually got sidetracked with a slightly different plan.. sorry should have updated. Using HGB semi auto on H1 with increased lot size on next trade to recoup losses whenever it goes against but no ALR for now.

1000pips and 34% up in 9trading days on live test account so persuing this for now.

Still testing exit criteria for each trade and going to try same on H4 next few weeks too and then post a proper update in the HGB thread next month sometime once I am satisfied.
You do not have the required permissions to view the files attached to this post.
libbo2003
Posts: 7
Joined: Sun Apr 19, 2015 11:16 am

Automatic Loss Recovery System (ALR) - read this first

Post by libbo2003 »

Hi Guys really interested in this chat about ALR, does anyone use it on indices? If they do is there any alteration to the set-ups on here?
dangelim
Posts: 1
Joined: Mon Apr 27, 2015 7:38 pm

Automatic Loss Recovery System (ALR) - read this first

Post by dangelim »

Hi there! I'm new to forex EAs and I thought this one pretty useful. Thank you for sharing :D My question is: is it possible to send an email alert when any error occurs? Thanks in advance.
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

Automatic Loss Recovery System (ALR) - read this first

Post by Dewey McG »

We have a new ALR trade Manager for those wanting to use this concept on their own strategies: http://www.stevehopwoodforex.com/phpBB3 ... 21#p123589
tradingshed
Posts: 5
Joined: Mon Jul 20, 2015 6:31 pm

Automatic Loss Recovery System (ALR) - read this first

Post by tradingshed »

Hi all,

fascinating thread and thank you to all for the info.

My question is: Does anyone has a functional & working ALR system that they are willing to post?

Thank you!
Post Reply

Return to “Automated Loss Recovery”