I will make a new document later explaining the differences.
ALR 1 (the calculator says 2.1) is the first version of ALR based on what Joseph Nemeth developed and later copied (and marketed everywhere) by Dustin Pass. With that one the lots are larger and you are keeping the trades open. Since you are hedging it won't work with US brokers.
ALR II is a version developed by Spider and a friend of his. With this one you close the trade and open a new one, so it is compliant with US brokers. it works in a very similar way, but is able to use smaller lot sizes and much less risk. After doing some back tests (see above) you can see the difference in risk is dramatic.
Going forward I believe we should stick with ALR II.
thanks Dewey for the clarification... your post came earlier before i was able to post mine... great work as always...
i just wonder if there is a way for the ALR II to have a built-in option to make it function as a stand alone Trade Manager and not just as a Trend Trading EA... this flexibility would allow many to be able to use this EA as there are varied strategies in market entry and exit, both manual and mechanical... i believe the functionality of this ALR as it, when applied to anyone's Trend Trading strategy would be awesome...
