Old and defunct Holy Graily Bob

Post by **Cyrus7** » Mon Jan 19, 2015 6:53 am

thank you very much Steve for your endless effort and the ongoing updates of this machine!

..what do you think of an option to handle the start of the week a little bit easier? I usually avoid trading the first minutes after the market open and like the idea SpiderX used in his Hurst Trader very much (useMondayStartHour).

Post by **SteveHopwood** » Mon Jan 19, 2015 9:31 am

Cyrus7 » Mon Jan 19, 2015 6:53 am wrote:thank you very much Steve for your endless effort and the ongoing updates of this machine!

..what do you think of an option to handle the start of the week a little bit easier? I usually avoid trading the first minutes after the market open and like the idea SpiderX used in his Hurst Trader very much (useMondayStartHour).

Turn off ea's for the first few minutes of the week. Why complicate what is actually a simple thing?

Post by **Cyrus7** » Mon Jan 19, 2015 9:56 am

SteveHopwood » Mon Jan 19, 2015 10:31 am wrote:
Cyrus7 » Mon Jan 19, 2015 6:53 am wrote:thank you very much Steve for your endless effort and the ongoing updates of this machine!

..what do you think of an option to handle the start of the week a little bit easier? I usually avoid trading the first minutes after the market open and like the idea SpiderX used in his Hurst Trader very much (useMondayStartHour).

Turn off ea's for the first few minutes of the week. Why complicate what is actually a simple thing?

Because I really need my beauty sleep after a stressful weekend?! ...

:hi:

Kimmy · Post by **Kimmy** » Mon Jan 19, 2015 11:07 am

I was very excited to find an EA called Equity Sentry .........this EA is an account manager EA and monitors the Equity balance of your account and can be set to close all trades, open & pending, plus also turn off all EAs on the platform. The trigger for this can be when the Equity reaches a certain level, either as a percentage of the account or in pips or money amounts.
Great !....wanting to trade the early hours after Tokyo opens (i live in UK) this was exactly what I was looking for ...a trade manager that will look at the Equity balance, so that the floating balance is taken into the calculation, and then will close all trades and pendings when it reaches the specified level and then will switch off HGB so that he does not trade again until I switch him back on.

I set this all up last night and Sentry did indeed close all trades, including pendings, and then switched off HGB when my account reached the specified amount of £50.
Unfortunately it wasn't quite quick enough for HGB ....so ....all with exactly the same time stamp....HGB managed to sneak in and reopen trades that Sentry had just closed before shutting everything down. ....(a sell Wave signal for GBPJPY)

Is there a way to make this work or is it not possible ? ....will the mighty HGB refuse to be controlled ?

any suggestions very greatly appreciated !!

p.s. lost my live account in the SNB massacre last week....many thanks to traders that offered great advice and support ...what an amazing community spirit we have in here ....thanks guys !!

Post by **SteveHopwood** » Mon Jan 19, 2015 11:19 am

Kimmy » Mon Jan 19, 2015 11:07 am wrote:I was very excited to find an EA called Equity Sentry .........this EA is an account manager EA and monitors the Equity balance of your account and can be set to close all trades, open & pending, plus also turn off all EAs on the platform. The trigger for this can be when the Equity reaches a certain level, either as a percentage of the account or in pips or money amounts.
Great !....wanting to trade the early hours after Tokyo opens (i live in UK) this was exactly what I was looking for ...a trade manager that will look at the Equity balance, so that the floating balance is taken into the calculation, and then will close all trades and pendings when it reaches the specified level and then will switch off HGB so that he does not trade again until I switch him back on.

I set this all up last night and Sentry did indeed close all trades, including pendings, and then switched off HGB when my account reached the specified amount of £50.
Unfortunately it wasn't quite quick enough for HGB ....so ....all with exactly the same time stamp....HGB managed to sneak in and reopen trades that Sentry had just closed before shutting everything down. ....(a sell Wave signal for GBPJPY)

Is there a way to make this work or is it not possible ? ....will the mighty HGB refuse to be controlled ?

any suggestions very greatly appreciated !!

p.s. lost my live account in the SNB massacre last week....many thanks to traders that offered great advice and support ...what an amazing community spirit we have in here ....thanks guys !!

Thing with an EA is this; it does what it is coded to do. So, if it spots a trading opportunity and there is not already a trade in place, it yells, "Yippppeeeee. Time to party." and sends a trade.

Do you have the source (.mq4) file? I can modify it if so, so that it will communicate with HGB in the same way my basket manager and trade closure scripts do.

Post by **macman** » Mon Jan 19, 2015 11:45 am

Kimmy wrote:I was very excited to find an EA called Equity Sentry .........this EA is an account manager EA and monitors the Equity balance of your account and can be set to close all trades, open & pending, plus also turn off all EAs on the platform. The trigger for this can be when the Equity reaches a certain level, either as a percentage of the account or in pips or money amounts.
Great !....wanting to trade the early hours after Tokyo opens (i live in UK) this was exactly what I was looking for ...a trade manager that will look at the Equity balance, so that the floating balance is taken into the calculation, and then will close all trades and pendings when it reaches the specified level and then will switch off HGB so that he does not trade again until I switch him back on.

I set this all up last night and Sentry did indeed close all trades, including pendings, and then switched off HGB when my account reached the specified amount of £50.
Unfortunately it wasn't quite quick enough for HGB ....so ....all with exactly the same time stamp....HGB managed to sneak in and reopen trades that Sentry had just closed before shutting everything down. ....(a sell Wave signal for GBPJPY)

Is there a way to make this work or is it not possible ? ....will the mighty HGB refuse to be controlled ?

any suggestions very greatly appreciated !!

p.s. lost my live account in the SNB massacre last week....many thanks to traders that offered great advice and support ...what an amazing community spirit we have in here ....thanks guys !!

Have a look at the dashboard over at http://www.stevehopwoodforex.com/phpBB3 ... =89&t=4046, as this offers a close function for HGB, using a customized version of MPTM ( Steve's legendary trade manager)

Best of luck

Kimmy · Post by **Kimmy** » Mon Jan 19, 2015 1:06 pm

SteveHopwood » Mon Jan 19, 2015 11:19 am wrote: Thing with an EA is this; it does what it is coded to do. So, if it spots a trading opportunity and there is not already a trade in place, it yells, "Yippppeeeee. Time to party." and sends a trade.

Do you have the source (.mq4) file? I can modify it if so, so that it will communicate with HGB in the same way my basket manager and trade closure scripts do.

yes sure Steve and HGB does his job super well

........no unfortunately i don't have access to the .mq4 file, it belongs to this guy where i found the free version.
http://www.ea-coder.com/equity-sentry-free-Empty4-ea/

Kimmy · Post by **Kimmy** » Mon Jan 19, 2015 1:13 pm

macman » Mon Jan 19, 2015 11:45 am wrote:
Have a look at the dashboard over at http://www.stevehopwoodforex.com/phpBB3 ... =89&t=4046, as this offers a close function for HGB, using a customized version of MPTM ( Steve's legendary trade manager)

Best of luck

Many thanks for the suggestion Macman I appreciate it.....i have just been studying the customized version of the MPTM and as far as i can tell it still doesn't give an option for a closure triggered by the Equity Balance ......?

It has surprised me that not more traders want to use the Equity balance as a reading for closing trades

cheers
Kim

Post by **macman** » Mon Jan 19, 2015 2:14 pm

Kimmy wrote:Many thanks for the suggestion Macman I appreciate it.....i have just been studying the customized version of the MPTM and as far as i can tell it still doesn't give an option for a closure triggered by the Equity Balance ......?

It has surprised me that not more traders want to use the Equity balance as a reading for closing trades
cheers
Kim

Hi,

Yes, AFAIK the dashboard will stop trading when a % loss of the account has been hit, which I have tested and found works perfectly.

The problem with an Equity balance hard close is you GUARANTEE a loss - which is probably why not many traders will use it. Basically you cut your options to zero.

I teach a method of setting up an equity balance warning when using an EA - if your equity warning balance point gets hit - goes over your acceptable risk profile - go to the charts and take corrective action on the pair(s) causing the abnormal draw-down. It may be the account will recover without any manual intervention, or maybe a zero hedge is needed or some other action.

Where this all falls down of course is if you can't trade manually in the first place - if you try and rely blindly on an EA I GUARANTEE you will lose money long term.

Best of luck

Kimmy · Post by **Kimmy** » Mon Jan 19, 2015 5:09 pm

macman » Mon Jan 19, 2015 2:14 pm wrote:
Hi,

Yes, AFAIK the dashboard will stop trading when a % loss of the account has been hit, which I have tested and found works perfectly.

The problem with an Equity balance hard close is you GUARANTEE a loss - which is probably why not many traders will use it. Basically you cut your options to zero.

I teach a method of setting up an equity balance warning when using an EA - if your equity warning balance point gets hit - goes over your acceptable risk profile - go to the charts and take corrective action on the pair(s) causing the abnormal draw-down. It may be the account will recover without any manual intervention, or maybe a zero hedge is needed or some other action.

Where this all falls down of course is if you can't trade manually in the first place - if you try and rely blindly on an EA I GUARANTEE you will lose money long term.

Best of luck

If there are multiple open trades when the Equity reaches the desired level then sure there will be some losing trades amongst the basket of trades but it doesn't mean that the account balance does not increase......for example......let's say that you have a $10k account and you are looking for a $200 increase on the account for the day's trading. You start HGB and it opens trades and starts to bank profits from closed trades that have reached their target. The account reaches $200 of banked profits...great....but your floating DD is -$75 so if you closed all trades now you would have banked only $125 instead of the desired $200. With new trades opening all the time and other trades reaching TP the Equity amount is fluctuating constantly....sometimes it will change too fast for us to manually hit the close all trades button to lock in the $200 that we are looking for. That is why it seems to be a much more suitable job for an EA.
Once the EA sees that the Equity level has increased by $200 it will shut everything down......amongst those trades shut down some will be losing trades sure but also some will be profitable trades that just hadn't reached their TP yet.
I trust an EA to do that particular job far better than I could do it manually .....hope that explains what i have in mind a bit better ??

Cheers