Attn: Mark or Users,
I have read over all the topics and some do relate to what i am looking for but still just don’t understand how to set it into rules and if even so. This is a THREE part question and if someone could take the time into giving me some detail in how to get these actions completed it would be much appreciated.
#1.) I don’t understand the rules in how to tell the EA if it looses more than X amount of dollars either per day or per hourly trend (meaning either during US Time or say EUR time) to stop the EA from trading anymore. Also it would be vice versa on telling the EA if it profits more than X amount of dollars either per day or per hourly trend to stop trading for that day and just resume on next trading day?
#2.) I don’t understand the rules in how to tell the EA only to trade 5 times per trend or 5 bars per trend then stop until next trend occurs.. Example: Say 5 EMA crosses below 10 EMA on 30M. time then i want the EA to trade 5 times for profit and not to take another trade until 5 EMA crosses above 10 EMA then it will take 5 Long profit trades and so on so forth?
#3.) I don’t understand the rules in how to tell the EA to only say take 10 trades either Long or Short or Both and to not trade again until it creates a loss, then to start trading again. Meaning when running back test and i notice my report will say it has around 12 profit trades in a row then 1 loss in a row. So i just want to tellt he EA to only take a certain amount of trades until it registers a loss, then resumes trading after. The loss will not be taken as a real loss but just a notification loss.
The help is much appreciated.
1) daily profit-target and daily stop-loss could be achieved by creating variable that stores count of trades during daily session. Then you can use function in EA Wizard called ‘Sum of Closed P/L (in money)’ and create condition where you check if daily loss or profit was exceeded or not.
2) you can again create variables ‘consecLongTrades’ and/or ‘consecShortTrades’. You increase them by 1 when entering market long or short. Condition then always checks if number of consecutive trades per side has been exceeded or not
3) since EA wizard does not contain functions for equity control your only way would be again to use ‘helpers’ variables but in this specific example I am not sure if it’s achievable or not. I also doubt that in long term this trade skipping system is worth it since you may eliminate some losses but you can also miss rewarding periods..
Thanks for your help. In regards to Number 2, what if i already have a variables that already control only one trade per bar which is on a different tab then my trade rules, So if i add ‘consecLongTrades’ rule it would create 3 tabs for 1 rule meaning: 1st rule would be entry/exit parameters, 2nd tab is where i check and make sure it trades only one trade per bar, then i assume i can add a 3rd tab that would only make sure i do a certain amount of ‘consecLongTrades’??
I just want to make sure i can add multiple checks for one entry rule.. I hope i explained it correctly above.
I am completely bent out of shape. I have done this till late night Friday and spent hours upon hours figuring this out today just for my question number 1. I just cannot get the principal behing it or what im doing wrong. Attached are the last 3 ways i have tried, i have exhausted all other methods or ways to do it and can’t figure it out. I have to be doing somethign wrong as it keeps making more and more trades no matter how many pips i want it to stop at or profit. All i did was create a simple just to teach me how and i can’t. Please let me know where i am going wrong.
To make it simple all i want it to do is stop trading at $10 of profit for day or 5 pips for day. Can’t figure out how to do either.Attachments in this forum are visible only for registered users.Attachments in this forum are visible only for registered users.Attachments in this forum are visible only for registered users.Attachments in this forum are visible only for registered users.Attachments in this forum are visible only for registered users.Attachments in this forum are visible only for registered users.
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