New ALR Trade Manager from Milanese

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New ALR Trade Manager from Milanese

Postby Dewey McG » Sat Jun 27, 2015 12:08 pm

Another toy for everyone:

As he made and improved the EA for The Flow Plus ALR, Milanese made some improvements to the trade manager portion to make it more robust. This version also works with ECN brokers that have a minimum lot size of .1
updated 29 jun, 2015
update aug 21, 2015
New the EA has the option to use no TP for the first trade, too you find the possibility to use ADR for calculating the ALR_Zone and the targets..
if you don't understand ALR, start here: Automatic Loss Recovery System (ALR) - read this first
update sep. 28, 2015
New you can use ATR instead fixed values for the ALR zone and the targets...
update oct. 26, 2015
fixed a rare bug using 0.01 base lots with some settings
ALR_TradeManagerV3.22.ex4

Just to be clear: this is a trade manager, not a stand alone EA. If you want that, look here: The FLOW Plus ALR EA
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New ALR Trade Manager from Milanese

Postby milanese » Sat Jun 27, 2015 12:42 pm

This version is experimental as I changed some what the formula to calculate the lotsizes, you can play with different settings but the ALR_TargetPips should be always some what higher as ALR_ZonePips, it is a work in progress and there is for sure much potential, so your observations will be a big help.
Note it is optimized for accounts from 10k -25k and initial lotsizes from 0.05-0.1.


Cheers :)

Tommaso
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New ALR Trade Manager from Milanese

Postby milanese » Sun Jun 28, 2015 9:03 am

I have updated post 1 with a bugfixed version, as there was some bug inside of the logic avoiding the version 3.02 to calculate the right lotsizes for your individual settings, now resolved, please use all only the new version 3.03..

Cheers :)

Tommaso
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New ALR Trade Manager from Milanese

Postby milanese » Mon Jun 29, 2015 8:05 am

I updated again the EA in the first post, I removed some not needed stuff and not needed inputs, too I optimised again the calculation part.

Cheers :)

Tommaso
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New ALR Trade Manager from Milanese

Postby longytravel » Wed Jul 01, 2015 6:01 pm

Great work as ever!

I find it easier to place limit and stop orders orders via scripts (that add a sl and tp) and then move those parameters (via the one touch feature) based on my thinking. Is there scope in future mods for the ea to do it's calcs based on these numbers rather than having to change in the ea input box?
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New ALR Trade Manager from Milanese

Postby tradingshed » Mon Aug 17, 2015 9:44 pm

Hi all,

I am testing Milanese ALR (on a single position) and I get the following errors (see attachments). Can you help?

Thanks
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New ALR Trade Manager from Milanese

Postby milanese » Mon Aug 17, 2015 10:01 pm

tradingshed » Mon Aug 17, 2015 9:44 pm wrote:Hi all,

I am testing Milanese ALR (on a single position) and I get the following errors (see attachments). Can you help?

Thanks

probably you single trade is too much in loss...

Cheers:)
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New ALR Trade Manager from Milanese

Postby tradingshed » Mon Aug 17, 2015 11:14 pm

Hi Tommaso, thank you very much for replying.

The position is only 60 pips in loss, what would be the guidelines to use the ALR successfully?

I set up a few trades by using a few EAs and chosen the one that was heading to loss (in this case 60pips) I then removed the EA which started the trade and replaced it with ALR with the settings in the picture.

This is what I would probably do in real life, (except that I would probably wait for more than 60pips).

As soon as the ALR was activated, I started receiving the messages in the image attached.

Can you help? Thank you
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New ALR Trade Manager from Milanese

Postby milanese » Tue Aug 18, 2015 6:26 am

tradingshed » Mon Aug 17, 2015 11:14 pm wrote:Hi Tommaso, thank you very much for replying.

The position is only 60 pips in loss, what would be the guidelines to use the ALR successfully?

I set up a few trades by using a few EAs and chosen the one that was heading to loss (in this case 60pips) I then removed the EA which started the trade and replaced it with ALR with the settings in the picture.

This is what I would probably do in real life, (except that I would probably wait for more than 60pips).

As soon as the ALR was activated, I started receiving the messages in the image attached.

Can you help? Thank you

The ALR must be active when you open the position, with your setting it will set a SL of 35 pips (so clearly 60 pips loss is too much for the setting) , it looks like you had not understand the ALR concept please read with attention ---> Automatic Loss Recovery System (ALR) - read this first for undertstanding the concept

Cheers :)

Tommaso
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New ALR Trade Manager from Milanese

Postby KingOfCoolville » Thu Aug 20, 2015 1:55 pm

Tommaso,

Is it possible to have the trade management EA not set the TP for the initial trade?
As my understanding is that 'ALR mode' is activated only when your initial trade has hit SL.

I am currently trying a system where the winning trades are kept open and are managed via Steve's MPTM to close at a percent of total account balance via their magic number. The losing trades are handed over to ALR and left to recover on their own.

However, because the ALR EA sets an initial TP for the first trade they have been closing prematurely - which means the basket is unlikely to reach it's target. I could drop ALR trade manager onto the chart after the trade has hit SL, but I am not able to be at my PC 24/7 - so it would be helpful if this could be automated.

Also, would it be possible to have the option to set the ALR zone, and the TP zones using multiples of Average Range? I know you have this feature included in your other management EA's. It would save me entering the separate data on each pair. Just a thought, you can tell me I'm too lazy if you like.

Thanks
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