Hedging - Close open positions in profit first

[keydcuk]

Hello,

I am not an Empty4 coder but I've got a code related question that I am hoping to resolve.

If I've got an EA that hedges, is there a way to program it so that when the EA closes the hedge that it closes the positions in profit first? The reason I ask this is that if a trade is in a massive hedge and the EA decides to close the positions that are in negative pips first, there is a possibility that it could blow and account before realizing that there was an overcoming amount of profit on the positive side of the hedge.

Thanks for your attention.

Daniel

[SteveHopwood]

You can use my FIFO code, assuming that the oldest trades are likely to be the most profitable. Sing out if you need any help.

[keydcuk]

You can use my FIFO code, assuming that the oldest trades are likely to be the most profitable. Sing out if you need any help.

Hi Steve,

Thanks for your reply.

FIFO might solve part of my problem as if it is in a hedge, it might close some sells and some buys in an alternate fashion of some sort rather than choosing to close all the buys first or all the sells first, but ideally I would like the EA to identify that once the basket TP has been hit, that it closes the profitables first before the losers.

If there is no solution to this, where might I find your FIFO code?

Thanks,
Daniel

[SteveHopwood]

Yes, you are correct. The biggest losers will also close first, alternating with the biggest winners.

There is a solution and I will add it to GW - I am going to reopen that thread later. I will add it now and point you to the correct line numbers so you can adapt it to your code.

[keydcuk]

Yes, you are correct. The biggest losers will also close first, alternating with the biggest winners.

There is a solution and I will add it to GW - I am going to reopen that thread later. I will add it now and point you to the correct line numbers so you can adapt it to your code.

Thanks Steve,

I try not to be a pain to you. I do enjoy this forum website and am only trying to contribute in a positive way. It is not my intentions to upset you. I do get you when you talk about the filtering of the posts etc... I will try to be more switched on to what is appropriate to post as well as where to post.

Thanks for being so reasonable and forgiving with me.

Daniel

[SteveHopwood]

This version will not actually work on accounts whose broker demands true FIFO, but those traders are not using the ea anyhow because they cannot hedge.

My Fifo stuff works by storing ticket numbers in an array. Here we need two of them as we want the profitable side of the position closing first, so:

• 143-146 declare two arrays, one for OP_BUY.... and one for OP_SELL... order types.
• 2295-5 initialises them to zero length.
• 2328+ resizes the relevant array and stores the order ticket in the new element.
• 2476+ sorts the arrays so that the tickets are saved in descending order, and so are saved in the order they were sent.
• 1201+ is a modified version of the original hedge position take profit closure. It assumes that the sell side is losing if the buy side is in profit, and so closes the buys first. Vice versa if the sell side is in profit.
• 2074 is void CloseAllTrades(int type). This needed modifying so it would use the appropriate array.

You will need a function that will fill the arrays. CountOpenTrades() does this but a heck of a lot more and needs umpteen variables declared, so here is a simplified version that will do what we are discussing here:

Code: Select all

void CountOpenTrades()
{
   //Not all these will be needed. Which ones are depends on the individual EA.
   int OpenTrades = 0;
   
   
   //FIFO ticket resize
   ArrayResize(FifoTicketBuys, 0);
   ArrayResize(FifoTicketSells, 0);
   
   
   if (OrdersTotal() == 0) return;
   
   //Iterating backwards through the orders list caters more easily for closed trades than iterating forwards
   for (int cc = OrdersTotal() - 1; cc >= 0; cc--)
   {
      //Ensure the trade is still open
      if (!OrderSelect(cc, SELECT_BY_POS, MODE_TRADES) ) continue;
      //Ensure the EA 'owns' this trade
      if (OrderSymbol() != Symbol() ) continue;
      if (OrderMagicNumber() != MagicNumber) continue;
      if (OrderCloseTime() > 0) continue; 
      
      //All conditions passed, so carry on
      
      OpenTrades++;
      
      //Store ticket numbers for FIFO
      if (OrderType() == OP_BUY || OrderType() == OP_BUYLIMIT || OrderType() == OP_BUYSTOP)
      {
         ArrayResize(FifoTicketBuys, OpenTrades + 1);
         FifoTicketBuys[OpenTrades] = OrderTicket();
      }//if (OrderType() == OP_BUY || OrderType() == OP_BUYLIMIT || OrderType() == OP_BUYSTOP)
      else
      {
         ArrayResize(FifoTicketSells, OpenTrades + 1);
         FifoTicketSells[OpenTrades] = OrderTicket();      
      }//else
      
   }//for (int cc = OrdersTotal() - 1; cc >= 0; cc--)
     
     
}//End void CountOpenTrades();

[keydcuk]

Brilliant!

Thanks for your help Steve. I genuinely appreciate it.

Daniel

[pascalx]

Managing your buys and sells in a container is paramount. I would advice to reduce calls to ArrayResize() though. I don't know its implementation, but it is very likely that it will allocate memory every time. If you plan on running the EA for long time, I suggest to allocate as much as possible on initialization and reduce allocation on runtime. You definitely want to avoid memory fragmentation. It will also benefit performance.

[hopfi2k]

pascalx,

while you are right on ArrayResize(). I nevertheless would like to point out to the documentations of recent MQL4 version (>900), that support a third parameter reserved_size preventing most of the in memory allocations and fragmentation: https://docs.mql4.com/array/arrayresize.

Cheers,
Andy

[pascalx]

I know. My container classes make use of that too to reduce allocations.