Time to talk about some experiences and just a few words in advance, why and how I test and use the pending-EA.
It is part of my strategy to “scale in” and “scale out” applying multiple orders, depending on the performance of any pair.
If there is any profit generated, I harvest or protect in profit. My trades, orders and pendings, I manage them in an excel worksheet using the interactive data feed transferred from Empty4 via the provided excel- template "DDE-sample" in the main Directory of Empty4.
For followers, make DDE-server accessable in the option-menue.
The actual data from the terminal I transfer via copy and paste (html) from the detailled report.
If price arrives a certain expected level, I get an alarm by alert (live) or via email (absent) to my smartphone, so I can decide in time and in advance, what to do.
The advantage for me is, that I can simulate with such a custom spreadsheet different scenarios in advance, e.g. what will happen if price will move into profit or loss, considering e.g. the daily expected and even unexpected price-movements. I.e. I can consider what will happen, if pendings would open...
That makes decisions and life for me easier, using only “Yes or No” and I have the risks under control.
If I´m convinced that price will move in a designated direction and range, I position there pendings (grid). Now I can use the pending-EA, which does this work for me, by using the stacking order feature.
I decide only, when to start. That´s a great help, when I´m not live.
By experimenting with the pending-EA,
I found some criteria to have a glance:
1. What I miss similar to the “alltrademanager”, that is to attach the EA to an already existing order by ticket number. For the orders protected in the swing or longterm
I don´t have any stress, only patience.
BTW: There might be recently some misunderstandings among traders concerning the use of magicnumbers. As far as I know, only EAs provide magicnumbers. Although it is out of topic here, please find attached a link, which explains it in more details.
http://expert-advisor-builder.com/metat ... ic-number/
2. I would request to switch off hidden functions.
I did already mention that most of the serious brokers did reduce the spreads and the stop-loss-levels, such as i.e. Global Prime and others.
So there is no real need to use hidden functionality. Don´t ask for slippage, because even serious brokers did not have sometimes any influence.
If the pendings and stops would be not hidden and visible, only minor coding for the switch true/false option might be necessary.
3. Statement: The pendings are fixed by the time and levels the EA has been attached. Using a bidirectional grid trading (buy and sell pendings simultaneously) the triggered pendings at the starting level still remain in their origin position.
Now assume, that price will move in a designated direction… by stacking trades. This will not work all the time, when unexpected spikes occurs. Therefore I `d like to suggest, that the opposite triggered pending position should move step by step according to the price movement, if the first pending will be triggered.
Afterwards the opposite pending should move (triggered by the option true or false) similar like a trailing-stop by the defined pending distance. BTW: that is not a new issue, trading discrete, we would do the same operation to protect trades. That feature should not lead to collisions. If price will turn/retrace, the trailed pending will remain at the latest moved and trailed position and stacking trades might perform in the opposite direction. Having in mind that the pending on the opposite, which might be most of the time inactive, depends on trader’s skill and experience and will serve similar as a hedge trade, if sometimes being absent.
Be aware and try it first on demo. The EAs does not have intelligence and is only a tool.
I use the EA on two charts of the same symbol, because it seems to me more flexible, transparent and useful to operate different in the opposite direction.
In reference to trailing. Might be a never ending story.
I´m not a follower of trading basket with an EA and with multiple orders using different symbols/pairs simultaneously. Each pair has different criteria, such as price-movement (vola) and different performance in regard to the trading hours. That is fact. Therefore I prefer to manage each pair separately, especially what trailing considers.
That should not mean, that I disregard basket-trading at all.
It needs years of experience to get a glance, i.e. how correlations will work (i.e. arbitrage-trading ….).
I wonder that only very few traders and coders did bother with trailing instruments, because from my point of view it is being a much underestimated issue and in contrast a powerful tool.
Any questions or comments?
Stay tuned … the journey continues
Trade well my friends and have a nice weekend
Over60
PS:
@Milanese, sorry, I did taken into account and don´t disregard it,
that you have a lot of work and projects. |
