ALR 2.0 Trade Manager

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ForMyEx
Posts: 6
Joined: Fri Dec 19, 2014 12:26 pm
Location: Berlin - Germany

ALR 2.0 Trade Manager

Post by ForMyEx »

TambaTrader » Sat Dec 20, 2014 9:30 am wrote:P.s. Thanks SpiderX for this EA. I nearly forgot my manners.
Me as well.
Thank you for sharing this great result of your personal effort with us.
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Everybody said "That's not possible" until someone came, who did not know about that and did it.
jhh
Posts: 4
Joined: Wed Dec 24, 2014 5:48 am

ALR 2.0 Trade Manager

Post by jhh »

nice guy!
TambaTrader
Trader
Posts: 51
Joined: Sat Jun 28, 2014 5:27 am

ALR 2.0 Trade Manager

Post by TambaTrader »

Hi all,

I have been testing and using this EA a lot so thought I would post my opinions for everyone else's benefit.

- I haven't found any errors or bugs.
- I like that it places the trades with take profits and stops so you aren't relying on it to manage a whole basket of trades. (The previous ALR one that I was testing was Wealthmaster and I had a big problem with that when the EA/my internet connection stopped working and left a whole load of unprotected open trades that could have blown my account.)
- It successfully ended the ALR methodology once because spread was too wide. I don't know if it is possible to restart it (I think not) but there was no problem as the trades it was going to place are written on the chart so I just manually continued the ALR at a later time.
- I like that you can have the EA running on your server and then I can manually place trades (e.g. from my phone) and the EA will just manage them for me. Perfect for a busy working mum like myself.
- I love that you can limit the loss in multiple ways (my preference is saying x% of the account).

Overall I haven't found any problems. The only errors or losses I have are from my human errors, which I will eliminate as I practise using it. Definitely, as always, you should practise with a demo to get used to the quirks.

Minor things that I am not keen on, but that you can work around.

- It changes the TP of the first trade. I think I would like that to stay the same. It is no big deal though you just change it back to what you wanted after the EA has modified it.
- It doesn't write the future trades on the chart window until it has gone into ALR mode, as oppose to straight away

I am using this on my real account now. I have a really simple strategy where I place a EURUSD trade with the trend, with a target of 50 pips, each morning at 7am (my time - GMT) and I use this EA to manage it. I use ALR with SL 30 pips and TP 90 pips. It's working well so far (only been using it on my real for two weeks mind you). I also use it for weekend gap trades, which rarely go in to ALR mode but if they do it has worked so far!

Have done many more trades in my demo account and not come across any probs yet.

Is anyone else testing this EA or using it?

Shona
Dovilo
Trader
Posts: 47
Joined: Fri Feb 14, 2014 1:29 pm

ALR 2.0 Trade Manager

Post by Dovilo »

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?
Empty4 4.png
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Bruster400
Trader
Posts: 192
Joined: Tue Sep 24, 2013 3:19 pm

ALR 2.0 Trade Manager

Post by Bruster400 »

Hi all,

I'm having great fun with this as it pulls a profit from random trades on demo. I just throw a trade on in either direction and come back later to find a profit - drawdown would keep you up at night if it was real money but that's another story.

However, I've just tested it on Gold using Auto OFF and a recovery zone (SL) to TP ratio of 1:3 as I've used successfully with FX and the lot progression is very different. I'm thinking this might just be down to spread but has anyone else used this on GOLD - or the indexes for that matter?

Thanks
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Bruster400
Trader
Posts: 192
Joined: Tue Sep 24, 2013 3:19 pm

ALR 2.0 Trade Manager

Post by Bruster400 »

Is anyone out there?

I'm late to the party and I noticed some of the ALR threads have died but there's no chat at the end of the threads to say why.... I can see a few people are trying it but if it doesn't work then I won't waste my time. In theory it looks interesting - but I guess I must be missing something?

Found this and it has raised my doubts:
komoles69 » Sun Feb 01, 2015 7:26 am wrote:All coders are saying that ALR is useless and they never waste their time.
Also, does anyone know what happend to TheInsider and his version he was working on?
TheInsider » Mon Nov 03, 2014 2:08 pm wrote:I will release my ALR EA soon, just need to polish it a bit first, and to write a manual for it.
If anyone can share their experience (particularly the bad) that would be great.

Thanks
TambaTrader
Trader
Posts: 51
Joined: Sat Jun 28, 2014 5:27 am

ALR 2.0 Trade Manager

Post by TambaTrader »

I'm using it and liking it but I guess I haven't got much history yet.

One thing I would say is that I think different stop loss and take profits are needed for different currency pairs. Or maybe it just shouldn't be used on some less volatile currency pairs. On EURUSD I use 30 SL and TP 90. That is doing well. (I have a 50 pips a day strategy that I use it with)

On my demo account however I have been using ALR with any old currency pair and it often fails. I have put no thought into the settings. I have got my results in excel so I ought to put a few stats up. Overall I have been losing quite a lot.

I also think there best way to use it is to get a win each time. I have been getting 1%. Doing this doesn't increase the lots much and then it can offset the times when it fails. I haven't got any proper analysis to prove this I just did some really quick calcs in excel and didn't keep them. It would be a good thing to properly analyse.

Shona
Bruster400
Trader
Posts: 192
Joined: Tue Sep 24, 2013 3:19 pm

ALR 2.0 Trade Manager

Post by Bruster400 »

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
Bruster400
Trader
Posts: 192
Joined: Tue Sep 24, 2013 3:19 pm

ALR 2.0 Trade Manager

Post by Bruster400 »

Hi all,

Just thought I'd flag an issue I've come across. I've just realised that the manager has stopped managing one of my trades. The trade has been stopped out but the EA still thinks that it is live - orders #3 and #4 have been stopped out. As a result it hasn't placed any additional pendings so I guess it's failed "safe" but I'm still out when I didn't expect to be.

Might be explained by a spike at NFP but however, the EA hasn't kept up for some reason.
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TambaTrader
Trader
Posts: 51
Joined: Sat Jun 28, 2014 5:27 am

ALR 2.0 Trade Manager

Post by TambaTrader »

It has a sort of safety feature where if the spread gets too wide it stops working. It is a good feature. You can adjust how wide you allow the spread to be in the settings. I bet that is what has happened.

When it happened to me once I manually placed my last few alr trades. I think you can see what they should be from the chart that you had alr2 on.

In my opinion, you don't have to place your manual alr trades at the exact price. It is the lot size and number of pips for your SL and TP that is the important bit. They don't even need to be on the same currency pair.

Hope that helps.
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