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Simple Trade Manager EA

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  • fxturtle
    replied
    New version available now for download here

    Trade Manager EA Ver. 2a.

    Changes:

    Stealth Mode

    Stop Loss = 0 This must be zero. Broker will not see Stop Loss. MT4 S/L column is blank
    True Stop Loss = 20 This is a hidden stop loss
    Target Profit = 0 This must be zero. Broker will not see Target Profit. MT4 T/P column is blank
    True Target Profit = 60 This is a hidden target profit

    Warning: In stealth mode, if your MT4 is disconnected from the internet, there is no SL in your broker server.
    If price moves significantly against your entry, you will incur a substantial loss.

    Visible Mode

    Stop Loss = 100 This must be higher than True Stop loss. MT4 S/L column will show this number
    True Stop Loss = 30 This is a hidden stop loss
    Target Profit = 100 This must be higher than True Target Profit. MT4 T/P column will show this number
    True Target Profit = 60 This is a hidden target profit

    Cheers,
    FxTurtle
    Last edited by fxturtle; 05-05-2015, 10:11 PM.

    Leave a comment:


  • fxturtle
    replied
    Thanks ESG.

    This will be what it looks like on the final version.

    Stealth mode:

    Stop Loss: 0
    True Stop loss: Your number (in pips)
    Target Profit: 0
    True Target Profit: Your number (in pips)

    The danger with this mode is that broker wont see your SL and TP and when your MT4 is disconnected and price went against your position very far, you will be in a lot of pain.

    Visible mode:
    Stop Loss: Your number (in pips) far away from entry price (This is like an emergency stop loss)
    True Stop loss: Your number (in pips). This number should be less than Stop Loss. Broker wont this this number.
    Target Profit: Your number (in pips
    True Target Profit: Your number (in pips)

    I will upload the new version tomorrow in my website.

    Cheers,
    FxTurtle

    Leave a comment:


  • ESG
    replied
    Hello FxTurtle,

    In addition to my last post I want to add that if the pretended SL is set on a smaller level (in pips) the EA has to widen/adapt the pretended SL if the quotes reaching some "region" that might lead to a stop out of the position before our True SL is hit.
    This is something that might get very tricky to handle and therefore I think we would be better off not setting the SL on the position itself but handling it by the EA completely.
    Nevertheless this is a strategy that might be not comfortable for every one as we would have to trust the mechanism/stability of the EA to close these.

    To have the choice the parameters of the EA should work that way, that we would be able to run in full stealth (no SL/TP) on the positions or use the defined functionality of pretended SL/TP.

    Kind regards,

    ESG
    Originally posted by ESG View Post
    Hello FxTurtle,

    From my point of view I would say that:
    1.
    If the pretended SL (in pips) propagated to the trading server is higher than the True SL our opponent has an advantage as they would try to take us out at the "pretended" level but would get us out at lower (in pips) True SL level instead.
    Therefore I think it would be better to pretend an SL at a lower level (in pips) than the True SL as this might trick their algorithm to not quote a level that will stop us out.
    2.
    For the True TP level I think it's right in the way you described it.
    If our opponent didn't like us to reach the pretended TP they might quote us levels that would reach our True TP and therefore eventually let it go to our real TP set in the parameters for the EA.

    Kind regards,

    ESG

    Leave a comment:


  • ESG
    replied
    Hello FxTurtle,

    From my point of view I would say that:
    1.
    If the pretended SL (in pips) propagated to the trading server is higher than the True SL our opponent has an advantage as they would try to take us out at the "pretended" level but would get us out at lower (in pips) True SL level instead.
    Therefore I think it would be better to pretend an SL at a lower level (in pips) than the True SL as this might trick their algorithm to not quote a level that will stop us out.
    2.
    For the True TP level I think it's right in the way you described it.
    If our opponent didn't like us to reach the pretended TP they might quote us levels that would reach our True TP and therefore eventually let it go to our real TP set in the parameters for the EA.

    Kind regards,

    ESG




    Originally posted by fxturtle View Post
    My brother ESG,

    That's deep. really deep.

    I do not know the answer nor have the resources to find out.

    We can probably have a discussion with that on another time or thread.

    For now, I just want to get feedback on the technical aspect of my little project.

    I have another revision on this simple trade manager ea as suggested by BRM about same pair, but different strategy, hence, different SL and TP levels.

    I don't want to start the other revision if this current revision does not make sense on a technical level.

    Thanks,
    FxTurtle

    Leave a comment:


  • fxturtle
    replied
    My brother ESG,

    That's deep. really deep.

    I do not know the answer nor have the resources to find out.

    We can probably have a discussion with that on another time or thread.

    For now, I just want to get feedback on the technical aspect of my little project.

    I have another revision on this simple trade manager ea as suggested by BRM about same pair, but different strategy, hence, different SL and TP levels.

    I don't want to start the other revision if this current revision does not make sense on a technical level.

    Thanks,
    FxTurtle

    Leave a comment:


  • ESG
    replied
    Hello FxTurtle,

    Request for comments!

    First thing to ask would be what is it good for or what's the intention.

    Out of the perspective that our brokers might hunt for the SL/TP levels visible on our positions on their trading servers to manipulate quoting, I think first of all would be choosing a broker that is most likely not having an A or B book established but is feeding the quotes without filtering/manipulating to their customers, as otherwise you're out of control anyway. There are some pretending that they are true ECN (Is this a reliable information? I don't know.).

    Second aspect coming to my mind is, what about the liquidity providers and if they would have a clue where our SL and TP levels might be.
    This leads to assumptions if a retail trader might set their SL and TP at "typical" levels and if these liquidity providers would hunt for these typical levels set by retail traders.
    If the data analysis of these providers is on a good level (I think they are much more able to judge on that) they will know already where the main crowd would set these levels and this opens the door for any manipulation to hunt down a good percentage of these SL/TP levels.

    But we have to see that we might have a broker with a broad variety of liquidity providers (hopefully not in a conspiracy with our broker) that would like to get their share by routing our trades to them.

    Bottomline out of my view on these very serious questions for what I would like to get more feedback on this thread:
    1.
    Do we trust our broker not to filter and manipulate the quotes streamed to our trading terminals and how would we be able to identify any manipulation?
    2.
    Does it really make a difference if we make our SL or TP levels visible to the trading server to which we are connected or not?
    3.
    If these liquidity providers already can "guess" what levels are chosen most likely, are we able to fight back by pretending levels that are not our real ones?

    These are my first thoughts on the aspects FxTurtle has presented in his call and I would really appreciate the discussion and conclusions that we are able to achieve as a community of addicted retail traders.

    Kind regards,

    ESG



    Originally posted by fxturtle View Post
    I need to get feedback if what i'm doing is correct.

    To those of you using my simple trade manager EA.

    There is an input parameter SL & TP.
    I added input parameters True SL and True TP

    SL (in pips) should be higher than True SL
    TP (in pips) should be higher than True TP

    For example:
    SL: 50
    True SL: 30
    TP: 50
    True TP: 30

    Buy EURUSD @ 1.09000
    EA place SL at 1.0850 which will show in your MT4 S/L column
    EA place TP at 1.0950 which will show in your MT4 T/P column

    Scenario 1:
    Price went down 1.0870, EA closes the trade because that is the True SL (30 pips), which is hidden from broker.

    Scenario 2:
    Price went up 1.0930, EA closes the trade because that is the True TP (30 pips), which is hidden from broker.

    Does this makes sense?

    Cheers,
    FxTurtle
    Last edited by ESG; 04-28-2015, 08:55 PM. Reason: typo

    Leave a comment:


  • fxturtle
    replied
    I need to get feedback if what i'm doing is correct.

    To those of you using my simple trade manager EA.

    There is an input parameter SL & TP.
    I added input parameters True SL and True TP

    SL (in pips) should be higher than True SL
    TP (in pips) should be higher than True TP

    For example:
    SL: 50
    True SL: 30
    TP: 50
    True TP: 30

    Buy EURUSD @ 1.09000
    EA place SL at 1.0850 which will show in your MT4 S/L column
    EA place TP at 1.0950 which will show in your MT4 T/P column

    Scenario 1:
    Price went down 1.0870, EA closes the trade because that is the True SL (30 pips), which is hidden from broker.

    Scenario 2:
    Price went up 1.0930, EA closes the trade because that is the True TP (30 pips), which is hidden from broker.

    Does this makes sense?

    Cheers,
    FxTurtle

    Leave a comment:


  • fxturtle
    replied
    I'm making a revision and or additional feature to the Simple Trade Manager EA. Currently on testing.

    Additional parameters:
    True Stop Loss
    True Target Profit

    In the new version, the Stop Loss from the original version is a fake SL where the broker see. The True Stop Loss is the real SL in which it is hidden from broker, but EA will close it when it is hit.

    In the new version, the Target Profit from the original version is a fake TP where the broker see. The True Target Profit is the real TP in which it is hidden from broker, but EA will close it when it is hit.

    Cheers,
    FxTurtle

    Leave a comment:


  • GarySkye
    replied
    thanks Fx-Turtle....you rock bro

    Leave a comment:


  • Big River Man
    replied
    Is there any way to put a comment on it Turtle? I am going to put it onto a demo account first to test out if it affects other trades for that currency pair that are already opened? However, if it were linked to control trades with a specific comment then that could allay that issue? Just thinking if your on the same account and trading say a scalping technique for say 10 pips but at the same time you are trading the same pair but on a longer TF then to TP/SL and lot size would of course be different. Just going to play around with it for bit. Cheers.

    OK so quick edit: after trying on demo account it will not affect any open orders even if you remove the SL of the previous trades, which is good. However any new trades opened on that same pair even if you open it on a chart without the EA it will automatically take over the trade UNLESS you have already set a SL and TP. Hope that helps. But yes what I was saying before, if there was indeed a functionality whereby it only took over trades opened from within the chart that has the EA then that would be even more useful. Anyway just a suggestion to make it better but most definitely not a demand or anything like that, just floating an idea.
    Last edited by Big River Man; 02-18-2015, 01:38 AM.

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  • fxturtle
    replied
    I think it will manage current trades if you delete the trade's TP and SL.

    Try it on a demo first.

    The EA will NEVER open a trade.

    Cheers,

    Leave a comment:


  • Big River Man
    replied
    Very generous. Thank you turtle. I will try to download this tonight. I'm assuming that the TP and SL will always be the same which is good if your following a particular strategy. But obviously it's downfall if not. Would the EA only manage trades that it opens, or would it take over any open trades?

    Leave a comment:


  • fxturtle
    replied
    Minor bugs in the trade manager EA is fixed:

    Before placement of SL and TP is off by a couple of points (Not pips).

    Cheers,
    FxTurtle

    Leave a comment:


  • ESG
    replied
    Hi fxturtle,

    thanks for the hint to hide the email address.

    Done,
    ESG
    Originally posted by fxturtle View Post
    Delete your email above if you don't want unwanted emails.

    Leave a comment:


  • fxturtle
    replied
    Originally posted by ESG View Post
    Hello fxturtle,

    Very appreciated. I totally agree to the details!
    You will get an email shortly from me just to be sure that nobody is spoofing our email contact I post it here.

    Regards,
    ESG
    Delete your email above if you don't want unwanted emails.

    Leave a comment:

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