Hi thnak you, hopefully your recovery will be coded soon. On another point
I have been trading nb systems since 2009 since 2011 i handle recovery differently from how i used to where i strated with a fixed recovery level say 200. What i do now is i have a level 100 if a trade goes into -100 I hedge it ie place a opposite trade to fix my loss at that point.
The reason for this being for along time i would hit the stop start recovery and see it go to level 3 or 4 and on really really bad time wipe an entire account out. In essence i did not know if the trend would reverse or infact that was it the trend had changed and i was the wrong side of it.
Now and especially with the new nb 10.2a I am very confident that this approach of hedge is the best way forward.
So - 1 .We hit a drawdown level of 100 we hedge
2. We wait until a) The trend returns and the conditions for a normal entry are triggered and enter a trade in the direction of the first trade. b) we se the trend has reveresed and a trade is triggred in the opposite direction to the first ie the daily, weekly, monthly have flipped and slope value is now -08 or less ( assuming origional trade was a buy)
Hope this makes sense. What would be useful is the hedge trade being an option in this auto ea with variable of level ie -100pips, -200pips ect for when hedge triggered and lot size.
This strategy also allowed me to match lossing and winning trades on the principle of let your winners run and cut your losses
let me know what you think
al3xx wrote:spotdespot wrote:censura wrote:Can you clarify for me if I have lot size set at 0.02 and risk % at 2 with sl = 0 and recovery virtual stop 100.
I wanted trades to open with the 0.02 lot size which is happening and the recovery to work at 100 (even though i do revovery manually i just wanted to test how this worked) but no recovery trades were executed have i mixed thing and got the setting wrong
thanks
I am not sure recovery is implemented yet censura - the parameter is there but I have a feeling it won't do anything yet.
If you want to trade @0.02 lots then set lot size @ 0.02 and risk at 0.
You are right. Recovery is not yet implemented. It is in the factory. What RecoveryVirtualStop is there for (I will explain again...) is if you want to do recovery manually like I do.
Normally if you set percentage risk, the EA will calculate lot size based on the stop loss setting or if stop loss is zero, based on the automatically calculated stop loss.
Now, if you want to do recovery and want a lot size calculated from the percentage risk, you want to select a virtual or fake stop loss that will be used to get the lot size. I set it to 100 pips which is around where we begin recovery. That means I have a specific percentage loss for each trade if recovery ever gets to the level where I have to close the initial trade.
I am currently using 2% risk and 100 pips RecoveryVirtualStop. I got into quite some draw down this week but still managed to recover some and in profit. There are some trades in recovery that are waiting Monday open. Whatever the heck happened to the AUD!
I am considering lowering risk to 1% and holding winners for longer since my average win now is around 50 pips and in review, I observe that if I held some more there were more pips to be had.
Then again, I remember Nanningbob talking about how he can milk say, more than 200 pips in a 200 pip move by taking smaller profits and re-entering on the retracements. Brilliant! But you got to be Nanningbob to catch that. Maybe the gurus can enlighten me...
Kind Regards,
Alex
