ALR 2.0 Trade Manager

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ianp
Trader
Posts: 83
Joined: Tue Nov 15, 2011 9:58 pm

ALR 2.0 Trade Manager

Post by ianp »

Dovilo » Tue Jan 27, 2015 11:19 pm wrote:I have a problem. Trades are not modified nor new one are sent because of error 4107 (invalid price parametr) when I have CriminalIsECN set on false and error 3 (invalid trade parametrs) when I set it on true.

I think it's a problem with ALR_TargetPercentProfit. When I set it on 0 from 0.1 trade went on but with strange parametrs (look atachment). Can someone help?
EDIT,

I had the ALR_Auto TP and SL set to true, so the TP and SL where 1500 pips away , hence why I was getting the above error ....
libbo2003
Posts: 7
Joined: Sun Apr 19, 2015 11:16 am

ALR 2.0 Trade Manager

Post by libbo2003 »

Bruster400 » Thu Feb 05, 2015 5:11 pm wrote:Thanks Shona, appreciate your feedback.

I've found stops make a big difference; too small and you get killed by chop, too big and the TP's are often missed. You definitely have to set these for each pair.

I have a few questions:

- Do you use the AutoTPandSL setting on false or true? I've had some issues with true
- Have you tried managing using magic number or do you just set this to 0?
- Have you used it on any of the indicies or on Gold? I have and it created very big increments on the lots for each leg - much bigger than necessary. Gold: 0.5, 2.2, 3.0, 4.0 and Dax: 0.5, 2.5, 3.3, 4.5 Both with TP's that were 3x the stop. I thought Gold might be because of spread but the spread on Dax is only 1pip.

I'm really keen to get it working on DAX because that seems to have at least one good strong move each day either at the open or at the open of the DOW but either one, this EA would position you perfectly for it each time. Any help understanding why the lot increments are so large would be great!


Thanks again for your help
Hi Buster did you get this EA up and running on the dax? and if you did is the coding ok or do you need to change some bits in it? I am looking for the trade manager to kick in after 10 points so is the TP still X3? Hope to hear from you soon
Bruster400
Trader
Posts: 192
Joined: Tue Sep 24, 2013 3:19 pm

ALR 2.0 Trade Manager

Post by Bruster400 »

libbo2003 » Fri May 01, 2015 8:21 am wrote:
Hi Buster did you get this EA up and running on the dax?
Hi Libbo,

Can't help you I'm afraid as I didn't pursue it any more for Dax or Gold. It works fine for FX pairs and I still use it occasionally on breaks of key levels / channels. My key learnings are:

- You've got to be 100% committed - if you let this EA recover for you then it will.... eventually. - BUT it might be a scary ride that takes a lot longer and uses a bigger chunk of margin than you were expecting. If you get caught in the chop be prepared for 10+ cycles regularly and if you stop at any point your loss will eclipse your original trade by many times.
- Recovery is less scary if you just go for breakeven or a tiny profit to be sure. Asking it to recover your loss AND make a profit doing so is asking too much. - you'll get scary lot sizes quickly.
- It's only a tool - not a system. Don't think you can place a random trade and eventually recover to a profit. You might on some occasions but it's like grid trading - eventually there's going to be the one that's just too big for your account. You are better off adding this to another system where you have a known chance of winning and then this tool just adds to that by recovering some of your losses.
- I don't use the auto TP and SL - I always put my own in.

Can't help with the dax but hope its of some use.

Bruster.
libbo2003
Posts: 7
Joined: Sun Apr 19, 2015 11:16 am

ALR 2.0 Trade Manager

Post by libbo2003 »

Bruster400 » Fri May 01, 2015 10:51 am wrote:
libbo2003 » Fri May 01, 2015 8:21 am wrote:
Hi Buster did you get this EA up and running on the dax?
Hi Libbo,

Can't help you I'm afraid as I didn't pursue it any more for Dax or Gold. It works fine for FX pairs and I still use it occasionally on breaks of key levels / channels. My key learnings are:

- You've got to be 100% committed - if you let this EA recover for you then it will.... eventually. - BUT it might be a scary ride that takes a lot longer and uses a bigger chunk of margin than you were expecting. If you get caught in the chop be prepared for 10+ cycles regularly and if you stop at any point your loss will eclipse your original trade by many times.
- Recovery is less scary if you just go for breakeven or a tiny profit to be sure. Asking it to recover your loss AND make a profit doing so is asking too much. - you'll get scary lot sizes quickly.
- It's only a tool - not a system. Don't think you can place a random trade and eventually recover to a profit. You might on some occasions but it's like grid trading - eventually there's going to be the one that's just too big for your account. You are better off adding this to another system where you have a known chance of winning and then this tool just adds to that by recovering some of your losses.
- I don't use the auto TP and SL - I always put my own in.

Can't help with the dax but hope its of some use.

Bruster.
Hi Buster thank you for your response the reason I am asking is so as to use as a BE tool like you said it is best to use as. Did you ever get it installed on the dax? If you did, did you have to modify it
libbo
libbo2003
Posts: 7
Joined: Sun Apr 19, 2015 11:16 am

ALR 2.0 Trade Manager

Post by libbo2003 »

Hi guys looking for some help, I want to run a demo using spiders ALR on the dax on Empty4. the chart is gonna be a 5min chart with the stop loss recovery 10 points and the TP 30 points is there any of the coding I need to change? I have changed the 50/150 on it so far. would be looking to use it as a soft stop BE small Profit EA. Hoping that it cuts the loses down on my usual set up for trades I take.
Any help is well appreciated.
acostafulano
Trader
Posts: 243
Joined: Tue Dec 06, 2011 3:40 pm

ALR 2.0 Trade Manager

Post by acostafulano »

I have a question about the default settings:

Target Profit Percent = 0.1 = 10% or.... 0.1%
Target Loss Percent = 7.5 .... 7.5%?

So... I don't know what to make of this numbers... 1% TP and 7.5% SL would make sense but then why would the defaults be 0.1 then?

Someone please explain :)
ross123
Posts: 5
Joined: Wed May 27, 2015 1:34 am

ALR 2.0 Trade Manager

Post by ross123 »

thanks for the EA FOLKS..
Is there anywhere one could find a complete description of this EA on how it works and the best strategy on how to use it in real trades?.
I have been reading through both threads and couldn't really find a good document on this subject. although it was promised to be produced in several posts. I would appreciate if you point me in the right direction if it is already somewhere. Mind you, I know all about the concept and have used it manually in some occasion.

Thanks all very much..
Cheers
Last edited by ross123 on Wed May 27, 2015 5:30 pm, edited 1 time in total.
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

ALR 2.0 Trade Manager

Post by Dewey McG »

libbo2003 » Sat May 02, 2015 7:09 am wrote:Hi guys looking for some help, I want to run a demo using spiders ALR on the dax on Empty4. the chart is gonna be a 5min chart with the stop loss recovery 10 points and the TP 30 points is there any of the coding I need to change? I have changed the 50/150 on it so far. would be looking to use it as a soft stop BE small Profit EA. Hoping that it cuts the loses down on my usual set up for trades I take.
Any help is well appreciated.
This was meant for longer term trades but as far as I can tell there is no reason why you shouldn't try it. No need to change the coding. let us know how it peforms
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

ALR 2.0 Trade Manager

Post by Dewey McG »

acostafulano » Sun May 24, 2015 7:58 pm wrote:I have a question about the default settings:

Target Profit Percent = 0.1 = 10% or.... 0.1%
Target Loss Percent = 7.5 .... 7.5%?

So... I don't know what to make of this numbers... 1% TP and 7.5% SL would make sense but then why would the defaults be 0.1 then?

Someone please explain :)
Target Profit percent .1 = .1% This is the percentage profit we shoot for if ALR is triggered. The idea is to breakeven on these trades instead of a loss. .1% gives us a tad extra

Target Loss Percent 7.5 = 7.5% This is the max loss before ALR stops and takes the loss. The default is a bit low actually
acostafulano
Trader
Posts: 243
Joined: Tue Dec 06, 2011 3:40 pm

ALR 2.0 Trade Manager

Post by acostafulano »

Dewey McG » Wed May 27, 2015 5:58 am wrote:
acostafulano » Sun May 24, 2015 7:58 pm wrote:I have a question about the default settings:

Target Profit Percent = 0.1 = 10% or.... 0.1%
Target Loss Percent = 7.5 .... 7.5%?

So... I don't know what to make of this numbers... 1% TP and 7.5% SL would make sense but then why would the defaults be 0.1 then?

Someone please explain :)
Target Profit percent .1 = .1% This is the percentage profit we shoot for if ALR is triggered. The idea is to breakeven on these trades instead of a loss. .1% gives us a tad extra

Target Loss Percent 7.5 = 7.5% This is the max loss before ALR stops and takes the loss. The default is a bit low actually

So if this is a target why does it have an effect on the lotsize set for each subsequent alr trade??

Please explain how it is calculated. I see theres a relation=Bigger value = bigger "multiplier"
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