stevehopwoodforex.com • Automatic Loss Recovery System (ALR) - read this first

Author:

blazecrown [ Tue Aug 19, 2014 2:53 am ]

Post subject:

Automatic Loss Recovery System (ALR) - read this first

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...

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Author:	blazecrown [ Tue Aug 19, 2014 2:31 am ]
Post subject:	Automatic Loss Recovery System (ALR) - read this first
Please read post 1 of this discussion and download the calculator. thanks Spider... so basically for the benefit of everybody, ALR I is the Trend Trading EA you made using the original ALR concept which are implemented in madpipa's Trend Trading EA, wealthmaster's Trade Manager EA and the one modded by TheInsider... ALR II is the Trend Trading EA you created which implements Gary's math (was that Gary?) that reduces the lot sizes and hence allows more turns but would produce similar results... correct? would be nice if we can see the math behind ALR II... was it posted here somewhere? thanks...

Author:	SpiderX [ Tue Aug 19, 2014 3:30 am ]
Post subject:	Automatic Loss Recovery System (ALR) - read this first
blazecrown » Tue Aug 19, 2014 10:53 am wrote: 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... It is already here: http://www.stevehopwoodforex.com/phpBB3 ... 792#p97774 Some feedback would be nice, because it is relatively untested. Cheers

Author:	blazecrown [ Tue Aug 19, 2014 3:43 am ]
Post subject:	Automatic Loss Recovery System (ALR) - read this first
It is already here: ALR 2.0 Trade Manager Some feedback would be nice, because it is relatively untested. wow! Spider... super thanks... will surely give feedback...

Author:	Dewey McG [ Tue Aug 19, 2014 9:41 am ]
Post subject:	Automatic Loss Recovery System (ALR) - read this first
SpiderX » Mon Aug 18, 2014 11:30 pm wrote: It is already here: http://www.stevehopwoodforex.com/phpBB3 ... 792#p97774 Some feedback would be nice, because it is relatively untested. Cheers Trying to but I need some trades to go the other way first-lol

Author:	SpiderX [ Tue Aug 19, 2014 10:28 am ]
Post subject:	Automatic Loss Recovery System (ALR) - read this first
Dewey McG » Tue Aug 19, 2014 5:41 pm wrote: Trying to but I need some trades to go the other way first-lol Hi Dewey, Think we should automate your strategy instead.... the existing one with the ALR doesnt look too ideal imo. Cheers

Author:	Dewey McG [ Tue Aug 19, 2014 10:31 am ]
Post subject:	Automatic Loss Recovery System (ALR) - read this first
SpiderX » Tue Aug 19, 2014 6:28 am wrote: Hi Dewey, Think we should automate your strategy instead.... the existing one with the ALR doesnt look too ideal imo. Cheers I agree. It is useful for testing ALR but we need a better one for actual trading.

Author:	davegan [ Thu Aug 21, 2014 2:53 pm ]
Post subject:	Automatic Loss Recovery System (ALR) - read this first
This is my first post and I want to thank so much all the trader-programmers who started this interesting discussion on this very useful EA. I downloaded the version of wealthmaster and open a trade on eurusd on August 8. I must say that I work on daily charts. ALR has opened two positions : after my sell entry, size 0.12, a 0.16 buy and a 0.12 sell . I manually closed the trade this morning shortly after 5:00 AM (GMT + 1) having reached the breakeven: I did not wait for the TP to be reached (XYZ set to 2.0). Everything worked fine even with the immssion of other trades on the same pair: as explained by wealthmaster, you must change the magic number and assign the number of trade on which you want to run the 'EA (replacing the default of -1 ), and open a new chart. Obviously, everything took place in a VPS environment (Activtrades). The idea is that once touched the STL and activated the ALR, we forget about that trade which is then handled automatically by the program, and proceed with other trades. With a correct leverage and adequately funded account it is very difficult to have problems. Thanks again to everyone and sorry for my bad english!

Author:	TheInsider [ Thu Aug 21, 2014 4:05 pm ]
Post subject:	Automatic Loss Recovery System (ALR) - read this first
Just a note that I've updated my ALR-Calculator. Lots of extra options + examples and comparisons. See my post at page #28 for download. Enjoy

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