Trade Management EA
Budget: €30 – €250 EUR
I am looking for someone that has already this product or can easily (and cheaply) build it.
For the time being this tool would require a manual click, although in the future it will need to be implemented in a larger automatic EA, so keep that in mind if you want to get more jobs from me.
- daily trades to be taken at 22:45 hrs server time (variable)
- assume 1% of the balance as the risk amount (variable)
the EA calculates the following:
1) range of the current bar about to close (RANGE)
2) based on the risk amount, in terms of lots, we take 30% of it for the market order and 70% for the limit order
3) we take a market order right away
4) limit order is set such that, if the market goes against the trade by 40% (variable) of the RANGE, then it's triggered. the SL of both Market and Limit order is set at a distance that is one RANGE from the market order entry point + some wiggle room
5) we set a partial TP at 20% (variable) of the RANGE and a full TP (close all the related trades) at one RANGE from the market order entry point (we may need to use a unique magic number here as we may have a number of such married trades over a number of days (i counted up to 3 sets in my analysis, but it may be more)
6) if the target hits the partial TP, we close 50% of the market order, we let the other 50% run, we cancel the limit order and we move the SL of the market order to zero + some points to cover commissions and spread
now the juicy part
if the market goes against us and the limit order is triggered, the EA has to handle both trades such that
we have these 2 scenarios
A) the market moves all the way against us and both SL of the market and limit orders are triggered (too bad)
B) the market recovers and at some point we would have the limit order that being more than twice as much as the market order, will have a positive combined P/L (some weighted average of the two).
as soon as the P/L is 150 points (variable) in profit with respect to the BE line, the EA must adjust the two trades by closing the market order in loss and compensating that by the gain of the limit order. (partial close of the limit order)
if that happens correctly, we would have now no market order and the remaining part of the limit order that it is still alive.
if that is the case, we set the new SL of the remaining limit order to zero + some points to cover commissions and spread and we let and we let the remaining limit order run
Show your best and you will earn also the building of the Full Automatic EA .
For the time being this tool would require a manual click, although in the future it will need to be implemented in a larger automatic EA, so keep that in mind if you want to get more jobs from me.
- daily trades to be taken at 22:45 hrs server time (variable)
- assume 1% of the balance as the risk amount (variable)
the EA calculates the following:
1) range of the current bar about to close (RANGE)
2) based on the risk amount, in terms of lots, we take 30% of it for the market order and 70% for the limit order
3) we take a market order right away
4) limit order is set such that, if the market goes against the trade by 40% (variable) of the RANGE, then it's triggered. the SL of both Market and Limit order is set at a distance that is one RANGE from the market order entry point + some wiggle room
5) we set a partial TP at 20% (variable) of the RANGE and a full TP (close all the related trades) at one RANGE from the market order entry point (we may need to use a unique magic number here as we may have a number of such married trades over a number of days (i counted up to 3 sets in my analysis, but it may be more)
6) if the target hits the partial TP, we close 50% of the market order, we let the other 50% run, we cancel the limit order and we move the SL of the market order to zero + some points to cover commissions and spread
now the juicy part
if the market goes against us and the limit order is triggered, the EA has to handle both trades such that
we have these 2 scenarios
A) the market moves all the way against us and both SL of the market and limit orders are triggered (too bad)
B) the market recovers and at some point we would have the limit order that being more than twice as much as the market order, will have a positive combined P/L (some weighted average of the two).
as soon as the P/L is 150 points (variable) in profit with respect to the BE line, the EA must adjust the two trades by closing the market order in loss and compensating that by the gain of the limit order. (partial close of the limit order)
if that happens correctly, we would have now no market order and the remaining part of the limit order that it is still alive.
if that is the case, we set the new SL of the remaining limit order to zero + some points to cover commissions and spread and we let and we let the remaining limit order run
Show your best and you will earn also the building of the Full Automatic EA .
Related categories:
Metatrader