ALR 2.0 Trade Manager

Post your EA's using ALR here
Post Reply
User avatar
SpiderX
Trader
Posts: 554
Joined: Thu Aug 22, 2013 4:50 pm

ALR 2.0 Trade Manager

Post by SpiderX »

Hi all,

By popular request, this is the new discussion for ALR2.0 Trade Manager
ALR2.0 Trade Manager will automatically manage any trade for the symbol with the same Magic number as the setting in the EA.
It will create a pending once there is a trade with the same Magic number, and this would be deleted if the trade was not stopped out.
Additional variable: ALR_AutoTPandSL
If set true, this ignores ALR_TargetPips and ALR_Zone, the target pips and zone pips are set according to the TP and SL of the initial trade.
If this is set false, the trade manager will automatically adjust the initial trade tp and sl to ALR_TargetPips_SameDir and ALR_ZonePips .

v1.01
-Bug fixes to ALR logic
-Additional variables carried over from ALR EA

Code: Select all

extern double ALR_TargetPercentProfit  = 0.1;
extern double ALR_MaxPercentLoss       = 7.5;
ALR_TargetPercentProfit to determine % profit desired at ALR progression. 0% means lot sizes grow slower and things are safer.
ALR_MaxPercentLoss to determine maximum amount of lost acceptable. Once 7.5% net losses are hit, the ALR progression stops.


Cheers
You do not have the required permissions to view the files attached to this post.
"Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs.Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, always perseveres."
-Corinthians 13:4-8
User avatar
Eamonn
Trader
Posts: 87
Joined: Wed Nov 16, 2011 6:45 am

ALR 2.0 Trade Manager

Post by Eamonn »

Thanks very much Spider
dudest
Trader
Posts: 1847
Joined: Tue May 08, 2012 2:37 pm

ALR 2.0 Trade Manager

Post by dudest »

Great work bro!, kudos :cheer: :hi:
Lagrange
Trader
Posts: 35
Joined: Fri Aug 01, 2014 1:21 pm

ALR 2.0 Trade Manager

Post by Lagrange »

Spider thanks a lot,

personally i am not in to any LWMA and MACD strategy and like to enter trades by hand according to (for example) CJ's idea's else on this forum. How can we apply this trademanager ALR II on trades entered manually?

thanks a lot Lagrange
KingOfCoolville
Trader
Posts: 36
Joined: Sun Dec 04, 2011 4:52 pm

ALR 2.0 Trade Manager

Post by KingOfCoolville »

Hi Spider,

I thought the original concept behind ALR is that there was no losses taken and that half of the trades were always hedged?

Doesn't this new version turn it into a Martingale? albeit one which only tries to recover losses rather than double the bet every time in order to win - but a martingale nonetheless?
Lowphat
Trader
Posts: 120
Joined: Fri Jun 27, 2014 12:20 am

ALR 2.0 Trade Manager

Post by Lowphat »

manual trades may have a magic number of 0 so in theory you could just have an ea manage magic number 0;
option 2: just get a simple buy or sell script with magic number and drag it to the chart to make a trade instantly
Lagrange » Thu Aug 14, 2014 12:53 pm wrote:Spider thanks a lot,

personally i am not in to any LWMA and MACD strategy and like to enter trades by hand according to (for example) CJ's idea's else on this forum. How can we apply this trademanager ALR II on trades entered manually?

thanks a lot Lagrange
User avatar
SpiderX
Trader
Posts: 554
Joined: Thu Aug 22, 2013 4:50 pm

ALR 2.0 Trade Manager

Post by SpiderX »

KingOfCoolville » Fri Aug 15, 2014 3:22 am wrote:Hi Spider,

I thought the original concept behind ALR is that there was no losses taken and that half of the trades were always hedged?

Doesn't this new version turn it into a Martingale? albeit one which only tries to recover losses rather than double the bet every time in order to win - but a martingale nonetheless?

Hi

I would be inclined to agree that this is somewhat a martingale...lets call a spade a spade...,but the original method is not really that much different.
The rationale behind using this method is that lot sizes can be smaller and you will lose less overall if you cut off at the same number of legs compared to the original method.
After analysing this method, we are at a conclusion that it does not make sense to run the original method when you can go at a lower risk using the non-hedging method.

ALR2.0 vs ALR1.0
Advantages:
1. less strain on leverage since only 1 trade active at a time
2. suitable for US citizen since no hedging
3. no accumulation of swap for long term legs
4. lot sizes are smaller and you can reduce the tp:sl ratio

Please see the spreadsheet which Dewey prepared on this.
http://www.stevehopwoodforex.com/phpBB3 ... =90#p97510

Cheers
"Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs.Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, always perseveres."
-Corinthians 13:4-8
Lagrange
Trader
Posts: 35
Joined: Fri Aug 01, 2014 1:21 pm

ALR 2.0 Trade Manager

Post by Lagrange »

Lowphat » Thu Aug 14, 2014 9:49 pm wrote:manual trades may have a magic number of 0 so in theory you could just have an ea manage magic number 0;
option 2: just get a simple buy or sell script with magic number and drag it to the chart to make a trade instantly
Lagrange » Thu Aug 14, 2014 12:53 pm wrote:Spider thanks a lot,

personally i am not in to any LWMA and MACD strategy and like to enter trades by hand according to (for example) CJ's idea's else on this forum. How can we apply this trademanager ALR II on trades entered manually?

thanks a lot Lagrange
great Spider, I opened the EA on a manual trade with magic number 0.
it does the first job (tp and sl) but then its done; no oppostie trade if stopped out...

thanks Lagrange
PontusLSE
Trader
Posts: 14
Joined: Wed Jun 11, 2014 5:04 pm

ALR 2.0 Trade Manager

Post by PontusLSE »

I had a quick look. As far as i can see there is something missing regarding the lotsizes of the ALR trades because the EA tries to send pending orders with 0 lotsize.



I cannot find anything that defines the "lot" parameter in these two lines,

359 , SendTradeSuccess = SendSingleTrade(OP_SELLSTOP,TradeComment,lot,entryPrice,sl,tp);
382, SendTradeSuccess = SendSingleTrade(OP_BUYSTOP,TradeComment,lot,entryPrice,sl,tp);

Am I missing something or is the code missing something? :D
User avatar
SpiderX
Trader
Posts: 554
Joined: Thu Aug 22, 2013 4:50 pm

ALR 2.0 Trade Manager

Post by SpiderX »

PontusLSE » Sat Aug 16, 2014 5:30 pm wrote:I had a quick look. As far as i can see there is something missing regarding the lotsizes of the ALR trades because the EA tries to send pending orders with 0 lotsize.



I cannot find anything that defines the "lot" parameter in these two lines,

359 , SendTradeSuccess = SendSingleTrade(OP_SELLSTOP,TradeComment,lot,entryPrice,sl,tp);
382, SendTradeSuccess = SendSingleTrade(OP_BUYSTOP,TradeComment,lot,entryPrice,sl,tp);

Am I missing something or is the code missing something? :D
Yes.
There is a bug as mentioned in the TrendTradingEA with ALR.
Currently doing some further improvements to the code on that end, the update here will come after.

cheers
"Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs.Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, always perseveres."
-Corinthians 13:4-8
Post Reply

Return to “Automated Loss Recovery”