Copier Max DD Question

[Tripzor]

Hello,

I have a question regarding the Max DD Function in SimpleTrader.
Im following like 5 Signals on 1 account so I have to set strict Max DD Rules so 1 signal cannot blow my whole account.

Now my question:
Is it possible when a Signal has reached the max drawdown to get the Signal disabled ?
So when I reach the max drawdown of a signal, it closes all positions of that signal and disables the signal so it cant do anymore harm.

So when a Stupid ass signal keeps opening new and new losing positions (Martingale) in a failing market, It will keep opening and opening. Even afterall positions are closed, My account will open a new martingale trade because its not disabled. So it can still blow ur account actually. Is there a way to add a function that when the max dd is reached from that signal it gets disabled.

[julioc]

That would be a good idea to implement, as Tripzor says if you are not monitoring (sleeping for example) a signal can still open new trades even after max DD is triggered.

[Tripzor]

Can this be coded intro SimpleTrader please ? Its just an extra safety for us.
I would really like this feature because of my large amount of traders and a really strict max drawdown.
I dont want a trader to reach max drawdown over and over until I get home and notice it..

Thanks alot.

[Tripzor]

Anyone ?

Cant be hard right ?
When MAX DD Reached check Disable signal.

Done.

[HedgeBitcoin]

Hi Tripzor,

Great suggestion. That would be a nice feature to have when following multiple signals. We'll have to wait for their team to make this happen.

The only option that I can offer would be an EA( free) that can monitor the drawdown, close all trades, turn off MT4 platform. In order to make this work as you suggested, you would need two things

A UID for each signal you follow ( this means several email accounts) and a MT4 platform with ST-EA running for every UID that you use.

If you follow 5 SP, you would need 5 UID, 5 MT4 platforms running.

VPS with 1g Ram can support 5 MT4 without issues.

That way, each SP would be sending signals to your account through 1 UID and then we can shut down that MT4 platform ( turning off the ST-EA) when the traders reached your DD limit

[dupapa]

Great idea. Can only be a good thing to impliment no??

The method is already coded just needs a bit extra to shut down the signal if a dd threshold is hit

Thumbs up here

Sent from my SM-N910F using Tapatalk

[Matthew Arnold]

MDD should be used in the right perspective to derive the maximum benefit from it. In this regard, particular attention should be paid to the time period being considered.I am new member here.Can i join all of you?

[Tripzor]

It would be nice if WillT can take a look at this topic. Im scared as **** with all my signals running,
If the Max DD blows for a signal it should be disabled or have an option for it.
Not just close all trades and if it opens another martingale or whatever it doesnt do more damage.

Thanks

[HedgeBitcoin]

Yep i agree with you. What Signal provider is killing your account? It was looking really good ( overlord's recovery).