global wrote: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.

Dr.Phoenix wrote: Using 20 pips for a stop loss, I have found that it is enough if you trade intraday. And if price is about to go in wrong direction, it passes 20 pips and hits the stop loss, it afterwards passes 20 pips more.

The last 20 pips allow me to capture the lost and to get the new 20 pips additionally (as lots doubled). That is why using stop and reverse technique is important critically. That is why I am looking for someone who could program it carefully within the framework of the EA.

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 doubled.

global wrote:

Dr.Phoenix wrote: Would the reverse hedge position also use the stop and reverse technique but this time without opening another hedge if the price reverses again? This is very interesting.

Dr.Phoenix wrote: UPDATE 06.06.2013: Global, do you know how to apply different sets of options to the different currency pairs?

extern bool UseCustomSettings = true;

int init()
{

if (UseCustomSettings) {

    if (Symbol()=="EURUSD") { 
    // Put all the settings you want to change from
    // the default for this currency pair here
    BreakEven=1;
    BreakEvenPips=20;
    BreakEvenProfit=2;
    HideBreakEvenStop=0;
    PipsAwayFromVisualBE=100;
    }
    if (Symbol()=="USDJPY") {
    // Put all the settings you want to change from
    // the default for this currency pair here
    }
    if (Symbol()=="NZDUSD") {
    // Put all the settings you want to change from
    // the default for this currency pair here 
    // and continue the code for all the pairs you 
   // want to automatically change the settings for.
    }

} // end of if (UseCustomSettings)

//Rest of the original int init() code continues here ...

   return(0);
  } // end of int init()

Dr.Phoenix wrote:Global, thank you for your variants. I have been myself thinking about the second variant proposed (the files are separate for the different currency pairs). However the third one is the most interesting I suppose. Thanks. I will research it.

Update: Are the global params changed in this case? I mean these params:
extern bool ManageThisPairOnly = true;
extern bool ManageSpecifiedPairs = false;

   UseTsPercentageTp  = false;
   UseTsPercentageATR = true;

Dr.Phoenix wrote:Understood.

We will see next week what happens.

As for the global parameters I would like to know if I need switching
ManageSpecifiedPairs = false to true in order to choose the pairs I need.

Dr.Phoenix wrote:Global, I am testing the EA with the parameters above for 3 days and the EA still represents the 20 pips stop-loss on both charts (EurUsd and EurJpy). I do not know why? Any thoughts?

The EA is attached. Would you like seeing it? Maybe you will find out.