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Thread: Martingale trade manager

  1. #1
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    Default Martingale trade manager

    Hello, Funyoo..

    do you think you have the time to create a trade manager EA which has these features?

    the EA should manage the already open trades (that I opened manually, with market orders - I don't want the EA opens any entry trade)
    better if I make an example: I'm long at 1.5000 - 0.1 lots. If the market goes against me, instead of a stop loss, the EA opens another long trade at, let's say, 50 pips down, at 1.4950.. with double lots, 0.2. If it goes down again, the EA opens another trade at 1.4900 with 0.4 lots. Then the EA should close all the trades at breakeven or a profit that I define.
    the variables should be the gap to open the new trade if it goes against me, the lot for each trade, the number of trades allowed, magic number and so on.. I don't know if you think that it's better to hide the trades by placing market orders if the price reaches the levels, or if it's better to place pending orders the moment I open my manual entry..

    thank you very much
    Mattia

  2. #2
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    Default

    Quote Originally Posted by coocosnest View Post
    Hello, Funyoo..

    do you think you have the time to create a trade manager EA which has these features?

    the EA should manage the already open trades (that I opened manually, with market orders - I don't want the EA opens any entry trade)
    better if I make an example: I'm long at 1.5000 - 0.1 lots. If the market goes against me, instead of a stop loss, the EA opens another long trade at, let's say, 50 pips down, at 1.4950.. with double lots, 0.2. If it goes down again, the EA opens another trade at 1.4900 with 0.4 lots. Then the EA should close all the trades at breakeven or a profit that I define.
    the variables should be the gap to open the new trade if it goes against me, the lot for each trade, the number of trades allowed, magic number and so on.. I don't know if you think that it's better to hide the trades by placing market orders if the price reaches the levels, or if it's better to place pending orders the moment I open my manual entry..

    thank you very much
    Mattia
    Hi coocosnest,

    Here is a code. Let magic set to 0. Set lots to your current lots size.
    Attached Files Attached Files

  3. #3

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    Very good Martingale trade manager. I used to protect my position on live acc.
    Funyoo, can you modify to works with yours ea Simple Trading T101. based on same magic number and order comment,
    then I just used 2 chart. 1 chart for Simple Trading T101 and 2nd for Martingale trade manager.

    thanks
    Last edited by Trint; 08-04-2010 at 09:54.

  4. #4
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    Default

    thanks a lot, funyoo.. exactly what I needed..

    would it be possible to add the options to manage all open trades - and not only the same pair of EA chart - and, most of all, to manage by comment and not by magic number? I think that comment is a quite important feature, because it is the only way to make the EA recognize the trade when you open a trade manually, since the magic number is 0 default.. I've taken this from Multi purpose trade manager EA..

    ps: I don't know why, but the close order based on Basketpips doesn't work for me, but Basketdollars does..

  5. #5

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    this work could be very helpful to me too, thus, thanks to both coocos and funyoo.
    however i have two questions;
    -do we save it under "scripts" folder? or somewhere else? and then attach it to the chart?
    -and if I'm making my first manual order with 0.15 lots (first buy or sell order), do i have to set "lots" part the same as 0.15? and the multiplier is doing the rest?

    thanks..

  6. #6
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    Quote Originally Posted by sercey View Post
    this work could be very helpful to me too, thus, thanks to both coocos and funyoo.
    however i have two questions;
    -do we save it under "scripts" folder? or somewhere else? and then attach it to the chart?
    -and if I'm making my first manual order with 0.15 lots (first buy or sell order), do i have to set "lots" part the same as 0.15? and the multiplier is doing the rest?

    thanks..
    - you have to save it under "expert" folder, it's an EA..
    - funyoo made it, but I think no.. the multiplier should multiply your manual entry.. by the way, try all the possibilities in a demo..

  7. #7

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    thanks for the reply
    for checking, i am going to start it on a demo account in 5 minutes
    lets see...

  8. #8

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    Hi Funyoo
    Very Helpfull ea.
    can i request new function
    please add fibonancy logic. to reduce lot

    see this picture.


    thanks

  9. #9
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    Hello Funyoo.
    I would test this Expert Advisor, but it does not work on the metatrader platform. Drag the EA but it does not fix the chart.
    You could rectify it?
    thanks.

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breakeven, demo, expert, funyoo, live, magic, magic number, manual, martingale, multi purpose, pips, profit, request, scripts, simple, stop, systems, time

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