Automatic Loss Recovery System (ALR) - read this first

Post your EA's using ALR here
Post Reply
gtactual
Posts: 6
Joined: Sun Mar 08, 2015 2:43 am

Automatic Loss Recovery System (ALR) - read this first

Post by gtactual »

Hi Benton,

I am ready to give it a try. I have some capacity to set up a few more demo accounts on the GP platform to test your modifications. Just send the details on how you want it to be set up.

Cheers

Gameli
bentonp
Posts: 4
Joined: Mon Jul 29, 2013 12:27 pm

Automatic Loss Recovery System (ALR) - read this first

Post by bentonp »

Hello,

I just modify the code so you only have to:

#include <ALR.mqh>

int OnInit()
{
OnInitALR(void);
return(INIT_SUCCEEDED);
}

then your trade strategy to open/close orders, then decide when to call ALR(); if an adverse situation comes for example.

First of all is to fix bugs, I notice that is you change some of the parameters there is no control in case it's too tight(PIPs) for example.

Other thing is the "recovery" idea as described in the first post:
The idea is that say you take a buy order for 1 lot and would normally place a 150 pip TP and a 50 pip stop loss, instead you take a sell order for 1.4 lots. If price keeps going down another 150 pips you will make a small profit. If it goes back up to where you first took your order (this area is called the recovery zone), you open another buy order for 1 lot. If it goes up another 150 lots, once again you get out with a small profit where you would have taken a loss otherwise. Each time price reverses instead to the other side of the recovery zone then you open another trade. Eventually price will go up or down enough to be able to close all the trades. This means when you are right, you will hit your tp as you planned. When you are wrong, your trades will close at a modest profit. Once in a blue moon you will hit SL but it won’t devastate your account.
It would be to make sure that works as described, so your EA will be trading normal or in "recovery mode".

I was about to contract a full-time programmer to do the job.

I will post later today or tomorrow, a tester EA with buttons for BUY/SELL CLOSE.

Regards,

Benton
You do not have the required permissions to view the files attached to this post.
Post Reply

Return to “Automated Loss Recovery”