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
I will keep this in mind for further updates, but I can not recommend using the ALR-TM with MPTM together this will create problems with ALR functions( a solution could be to use MPTM only for the first trade magic number)
I agree that having the two EA's running side by side is not the best option. Just for clarification:-
1) I run an EA (magic num 4)
2) I get APBM, or Steve's MPTM to close all trades at percent balance target (only for trades magic num 4)
3) I have ALR trde manager setup with averages to manage trade recovery in the event of SL hit.
The problems are:
1) ALR will set the TP of the initial trade, so the trade closes before being able to significantly contribute to the percent balance target - managed by MPTM.
2) If the original EA sends another trade whilst an existing trade of the same currency pair is active (ie in ALR mode) this messes things up and cancels all ALR trading up to that point and starts a fresh round. This isn't that hard to overcome as the system I am using is daily system - and every time a new trade opens, I switch the EA not to trade that pair again until either the basket manager closes for a account percent TP or the trade finishes it's ALR recovery.
update aug 20th, 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..
As always the EA is to find attached to the first post.
Cheers
milanese » Thu Aug 20, 2015 3:18 pm wrote:update aug 20th, 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..
As always the EA is to find attached to the first post.
Cheers
Tommaso
Hi Tomasso,
Thanks for making the changes. I am having a slight problem however.
When setting 'useADRforALRzone' to true, the EA seems to ignore this setting. If I have the hard pip targets entered it works with them regardless of the 'useADRforALRzone' setting - and when you set the hard pip targets at zero (in theory they shouldn't be being used if 'useADRforALRzone' is set to true) the EA gives a zero divide error and gives an invalid stops error. The EA doesn't seem to be taking account of the ADR setting at all.
Thanks for making the changes. I am having a slight problem however.
When setting 'useADRforALRzone' to true, the EA seems to ignore this setting. If I have the hard pip targets entered it works with them regardless of the 'useADRforALRzone' setting - and when you set the hard pip targets at zero (in theory they shouldn't be being used if 'useADRforALRzone' is set to true) the EA gives a zero divide error and gives an invalid stops error. The EA doesn't seem to be taking account of the ADR setting at all.
THanks
You are right, thanks for the spot there was a bug inside of the new logic, now corrected, the bugfixed V 3.19L should resolve the problem, please re-download all from the first post!
Thanks for this! I have two questions for you:
I have an EA running on 29 charts with different Magic Numbers assigned to each.
Should my Magic Number Setting look like this:
1,2,3,4,...29
Also, I trade with .01 lots. The ALR is recommending a first turn lot size of .01.
I assume this means it has rounded down. However, if I understand ALR correctly, this will not work.
I think I need to trade .01 lot and then at least .02 on the second.
Thanks for this! I have two questions for you:
I have an EA running on 29 charts with different Magic Numbers assigned to each.
Should my Magic Number Setting look like this:
1,2,3,4,...29
Also, I trade with .01 lots. The ALR is recommending a first turn lot size of .01.
I assume this means it has rounded down. However, if I understand ALR correctly, this will not work.
I think I need to trade .01 lot and then at least .02 on the second.
Is this correct?
Thanks!
there are no different magic numbers for different symbols necessary, the ALR is OOTB optimised for 0.05 lot or 0.1 lot, but you can play with the settings , if you like to use 0.01 lot..
Cheers
Tommaso
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there was a bug inside of the new logic, now corrected, the bugfixed V 3.19L should resolve the problem, please re-download all from the first post!