MPTM_Global

[Dr.Phoenix]

Hi Dr. Phoenix,

Yes, MPTM_Global works with all jpy pairs. However, I never used any of MPTM's hedge options or PartClose options so I don't know how my modifications would impact those options. I will have a look at the code over the weekend and Monday I'll test it when the market opens.

Thank you, Global.

Awaiting for your comments upon your investigation.
I assure you that closing a half of a position at 25% plus the second half when retracing is more profitable than closing all the position when retracing. Such situation arises when trading EURUSD for example. Just calculate yourself.

[global]

Hi Dr. Phoenix,

Sorry for the long delay. I was unable to fully investigate using the hedging option together with the modifications I made. I did look at the hedging code and it looks rather complex. Unfortunately, in the limited time available to me I was unable to figure it all out. I hope some other programmer will have to time to figure it out and make any modifications required.

The part-close options should work out of the box with my Jumping stop loss / Tightening stop settings. Just set JumpingStop to true, TrailingStop to false, choose your preferred Tightening stop settings, then follow the part-close instructions from the original MPTM PDF manual which you can download here: http://www.stevehopwoodforex.com/phpBB3 ... php?id=181

Here is the relevant part-close section from the MPTM manual:

2) Jumping stop loss settings: this will jump the stop loss by JumpingStopPips when
the price moves in your favour by that number of pips. Many traders consider this to
be a better option than a straight trailing stop. The first time this option is triggered
by the market price, it will set the stop loss to break even. After that, it will increment
the sl by JumpingStopPips every time the market moves sufficiently in your favour.
This routine incorporates settings to part-close a percentage of the profits every
time the sl jumps.
● JumpingStop: set to true to enable this facility.
● JumpingStopPips: the number of pips to jump. For example, my default of 300
works like this:
• Market price hits order open price + 300: moves sl to break even.
• Market price hits order open price + 600: moves sl to + 300.
• Market price hits order open price + 900: moves sl to + 600.
● AddBEP: adds BreakEvenPips to the break even if set to 'true'.
● JumpAfterBreakevenOnly: use this in cooperation with BreakEvenSettings to
manage longer-term or positional trades. If set to 'true', this will force
JumpingStop to wait until the sl has been moved to breakeven before operating.
● HideJumpingStop: this hides your 'real' jumping stop from the broker when set
to true.
● PipsAwayFromVisualJS: the number of pips away from the stop shown in the
trade you want your real stop. For example, you want a real stop loss of 200
pips and an emergency trade stop of 400, so you set:
• JumpingStopPips = 400.
• PipsAwayFromVisualJS = 200.
● ---- part-close settings----
● PartCloseEnabled: set this to 'true' to enable the routine.
● Close_Lots: this is the amount of the trade you wish to close at each jump.
● Preserve_Lots: this is the amount you want to leave 'on the table'. The ea will
only close down the amount of the trade you specify in Close_Lots if there is
more than this setting left to close.
For example, suppose you have a 1 lot trade. You want:
● The jumping stop to move the sl every 20 pips profit.
● Lock in 2 pips profit at the first jump.
● 0.2 lots of the trade closed at each jump.
● 0.4 lots of the trade left on the table to follow the move until tp or a retrace hits your
stop.
These would be your settings:
● JumpingStop: true
● JumpingStopPips: 20
● AddBEP: true (and set AddBEP to 2 a little higher up)
● JumpAfterBreakevenOnly: false
● PartCloseEnabled: true
● Close_Lots: 0.2
● Preserve_Lots: 0.4

Please let me know how it works out for you.

Yes, the EA has so many parameters that it can be overwhelming. I too was overwhelmed in the beginning and searched online in vain for .set files with preset parameters. Since I didn't find any preset files, I had no choice but to take the time to read the manual to understand the different options. So to understand all the EA parameters, you can read Steve's original manual, plus within the MPTM_GLobal's input dialog window, you can read all the descriptions of each new feature I added.

Since the full descriptions in MPTM_GLobal's input dialog window are concise and self-explanatory, I felt that no manual was required. Just take your time and go through the descriptions in the order they appear, from top to bottom, to understand how all the different features work together.

As I mentioned in my first post to this topic, if the descriptions of some of the features are cut off because Empty4 doesn't allow resizing of their EA input dialog box, then I suggest that you use the very small portable ResizeEnable program for PCs to turn Non-Resizeable Windows into Resizeable Windows so that you can easily see the full descriptions.

You can also use the InputResizer EA/Indicator from http://www.forexfactory.com/showthread.php?t=299017 but I prefer the easier to use ResizeEnable that sits in your system tray.

You can read about ResizeEnable here:

http://www.howtogeek.com/howto/11799/tu ... e-windows/

And you can download it here:

http://www.digitallis.co.uk/pc/ResizeEnable/index.html

[Dr.Phoenix]

Hi, Global

I have the same problem as yours - it is lack of time.

So I would like to thank you for your detailed answer and some of the info will be of course taken into consideration.

I am using the hedging option. It is helpful sometimes but it is not a universal panacea as it has turned out.

I am also using the Tightening stop depending on ATR, but it seems to be too tight sometimes - so it needs being tuned form one instrument to another. Maybe the Jumping stop will be more interesting - it should be tested.

As for part closing, I see it is functional if the jumping stop is on. I will test this option soon and let you know how it works.

As for InputResizer EA/Indicator, thank you for the links, but I do not know how helpful this tool would be. It needs also testing, I suppose. Anyway thank you.

[global]

You are welcome.

[Dr.Phoenix]

You are welcome.

Hi, Global

As you know I am testing the MPTMG with the part close and hedge options.
I must say that it seems to be interesting for me.

1. Half of a position is closed with 20 pips profit, then half of the rest is closed in 10 pips, then half of the rest is closed in 15 pips, so on... Jumping stop is used and it has the 15-pip step. In real conditions such an algorithm allows one to take 40-50 pips in one trade (in the average volatility of a day, ATR = 100 - 110 pips). As the market does two basic sessions (London and NY) it is possible to take approximately 80 pips per one cross pair (for examlpe, EURUSD), just doing two or three trades a day. I do not know how much it is, but I think this result is good enough.

I would like to ask you how many pips do you have if you trade EURUSD only and use the MPTMG with that options published?

2. I hedge a position using the martingale system. If a stop loss is hit, a reverse position is opened. The reverse position has the 20-25 pips take profit with the lot doulbled.

My modification of the EA is attached. Hope it is helpful.

Update: I have some difficulties understanding the hedging functionalities. It works unstable (It is possible that it has a bug or this bug is a feature - I do hardly understand. Please, advise who could be helpful in clarifying this feature - who knows maybe a new option will arise and be realized afterwards. Can you be of help for this?

[global]

Thanks for your modification. I will try it when the markets open on Monday. I never partly close orders in my trading but I will try it and see how it goes. Time will tell how many pips I can capture using the part close feature with Jumping stops.

I also don't use hedging and I still don't understand the hedging code in the EA. As for who can help to clarify the hedging feature, I really don't know. I guess that you just have to hope that someone who is capable of doing it sees your request and does the needful.

[Dr.Phoenix]

Thanks for your modification. I will try it when the markets open on Monday. I never partly close orders in my trading but I will try it and see how it goes. Time will tell how many pips I can capture using the part close feature with Jumping stops.

Please, try it.

Example. You trade 1 lot with a take profit to be 50 pips. I trade 3 lots with 1,5 lots to be closed in 20 pips, 0,75 lots to be closed in 10 pips afrerwards and the rest 0,75 lots to be closed with 15 pips when price retracing, hitting the 15 pips B/E (bad luck). So I have 1,5*20+0,75*30+0,75*15 to be equal 64 pips - price passes 30-35 pips and retraces (no need waiting the 50 pips passage in one direction). Just think about it.

I also don't use hedging and I still don't understand the hedging code in the EA. As for who can help to clarify the hedging feature, I really don't know. I guess that you just have to hope that someone who is capable of doing it sees your request and does the needful.

It is a great pity. I have an idea how to modify the EA. I think the realization is not complex but it should be done by a professional programmer.

[global]

Please, try it.

Example. You trade 1 lot with a take profit to be 50 pips. I trade 3 lots with 1,5 lots to be closed in 20 pips, 0,75 lots to be closed in 10 pips afterwards and the rest 0,75 lots to be closed with 15 pips when price retracing, hitting the 15 pips B/E (bad luck). So I have 1,5*20+0,75*30+0,75*15 to be equal 64 pips - price passes 30-35 pips and retraces (no need waiting the 50 pips passage in one direction). Just think about it.

Sounds good except that when you start your trade with 3 lots instead of 1 lot you will be risking 3 times as much. You are right, if you convert your profit from your 3 lots part closure trade in term of the pip value of a 1 lot trade, your profit will actually be 63.75 pips, approx. 64pips.

I suppose this is how you calculated that:

You start with 3 lots hoping to get 50 pips and the per pip value is 3 x the 1 lot trade so call that 3p.

1.5 Lots closed at 20pips => 20/2 = 10p
0.75 Lots closed at 30pips => 30/4 = 7.5p
0.75 Lots closed at 15pips => 15/4 = 3.75p

Total pips in terms of a 3 lot pip value = 10 + 7.5 + 3.75 = 21.25p

When you convert 21.25p @ a 3 lot pip value to a 1 lot pip value you get: 21.25 x 3 = 63.75 pips

If you use the same stoploss for your 3 lot trade your risk will be 3 times as much. How to get around that?

[Dr.Phoenix]

Please, try it.

Example. You trade 1 lot with a take profit to be 50 pips. I trade 3 lots with 1,5 lots to be closed in 20 pips, 0,75 lots to be closed in 10 pips afterwards and the rest 0,75 lots to be closed with 15 pips when price retracing, hitting the 15 pips B/E (bad luck). So I have 1,5*20+0,75*30+0,75*15 to be equal 64 pips - price passes 30-35 pips and retraces (no need waiting the 50 pips passage in one direction). Just think about it.

Sounds good except that when you start your trade with 3 lots instead of 1 lot you will be risking 3 times as much. You are right, if you convert your profit from your 3 lots part closure trade in term of the pip value of a 1 lot trade, your profit will actually be 63.75 pips, approx. 64pips.

I suppose this is how you calculated that:

You start with 3 lots hoping to get 50 pips and the per pip value is 3 x the 1 lot trade so call that 3p.

1.5 Lots closed at 20pips => 20/2 = 10p
0.75 Lots closed at 30pips => 30/4 = 7.5p
0.75 Lots closed at 15pips => 15/4 = 3.75p

Total pips in terms of a 3 lot pip value = 10 + 7.5 + 3.75 = 21.25p

When you convert 21.25p @ a 3 lot pip value to a 1 lot pip value you get: 21.25 x 3 = 63.75 pips

If you use the same stoploss for your 3 lot trade your risk will be 3 times as much. How to get around that?

You are completely right !!

In my opinion, to capture 30-35 pips (bad luck !) when price going in one direction is more probable then to capture 50 pips. And do not also forget that your risk is reduced in 20 pips after you get into the market.

Answering you question:

1. Reduce your initial stop loss for an acceptable risk (I use the 20 pip stop loss).
2. Get into the market carefully (I use VSA + PA).

Now you understand why to use the stop and reverse technique, do not you?

[global]

Yes, I understand this stop and reverse technique and I love it. Actually, I never considered this technique before and if I can get my risk management right with it this will certainly increase my profits. I also use VSA/PA and for every trade I know what my minimum stop loss should be to maximize profits. I use a script to calculate my lot size based on my stop loss so that I only risk 2% of my equity or account balance. Here is the formula:

$ at Risk = Account Balance x Risk %

Risk per Lot = Pip Value per Lot x Stop Loss

No. of lots traded = $ at Risk / Risk per Lot

OR: No. of lots traded = ( Account Bal. x Risk % ) / ( Pip Value per Lot x Stop Loss )

Yes, my risk is reduced after the price goes 20pips in my favor but if the price reverses before reaching 20pips and my stop loss gets hit then my risk will be 3 times as compared to a 1 lot trade. Plus, since I always enter my trade with a minimum stop loss, if I reduce it further, that may increase the probability of my stop being hit since the price will not have enough room to allow for fluctuation before the price goes in my direction. I welcome any insights you may have on this.