Partial Close and/or Breakeven after minutes
Partial Close and/or Breakeven after minutes starting from (and including) the very first order.
Replies 10
Close with profit (or in BreakEven) after some time — is nice idea.
But how should partial close work? We have some series of trades (in profit / in loss) and some time is gone. Should we close 1st order? Or should we close a part from all orders? Why?
for the partial close, my point is.
my point is, right now, many CP sets here are based on the martingale, and stop-loss usually based on the xx pipps after the last trade.
Let's say, our usual scenario is like this,
we have total maximum 6 orders opened, with a stop-loss of 400 pipps
Order 1: 0.01
----100-----
Order 2: 0.02
----90-----
Order 3: 0.03
----80-----
Order 4: 0.04
----70-----
Order 5: 0.05
----50-----
Order 6: 0.06
Stop-loss will hit after order 6 with another 400pipps, so total you loss 100+90+80+70+50+400=790pipps
With this setup, if we get hit by one strong direction, we will loss 790pipps for sure。
My partial stop-loss is like this,
Start with,
Order 1: 0.01
----100-----
Order 2: 0.02
----90-----
Order 3: 0.03
----80-----
Order 4: 0.04
----70-----
Order 5: 0.05
----50-----
Order 6: 0.06
When total loss 390pipps hit, close only the top order 0.01 with 390pipps loss
now, martingale can open another order if the market still going in the opposite direction, then we might have
Order 1: 0.02
----90-----
Order 2: 0.03
----80-----
Order 3: 0.04
----70-----
Order 4: 0.05
----50-----
Order 5: 0.06
----50-----
Order 6: 0.07
If still going in the opposite direction, we might lose another 0.02 with 390pipps loss.
Now, we might be able to open another order with,
Order 1: 0.03
----80-----
Order 2: 0.04
----70-----
Order 3: 0.05
----50-----
Order 4: 0.06
----50-----
Order 5: 0.07
----50----
Order 6: 0.08
and keeps going, until the market turns back we will be able to break even easier this way.
However, you might also want to add a function that when the steps between each trade after 6th orders, it will keep the same gap or something like that.
Let me know if this is a good idea. I tried on other EAs, it works alright.
for the partial close, my point is.
my point is, right now, many CP sets here are based on the martingale, and stop-loss usually based on the xx pipps after the last trade.
Let's say, our usual scenario is like this,
we have total maximum 6 orders opened, with a stop-loss of 400 pipps
Order 1: 0.01
----100-----
Order 2: 0.02
----90-----
Order 3: 0.03
----80-----
Order 4: 0.04
----70-----
Order 5: 0.05
----50-----
Order 6: 0.06
Stop-loss will hit after order 6 with another 400pipps, so total you loss 100+90+80+70+50+400=790pipps
With this setup, if we get hit by one strong direction, we will loss 790pipps for sure。
My partial stop-loss is like this,
Start with,
Order 1: 0.01
----100-----
Order 2: 0.02
----90-----
Order 3: 0.03
----80-----
Order 4: 0.04
----70-----
Order 5: 0.05
----50-----
Order 6: 0.06
When total loss 390pipps hit, close only the top order 0.01 with 390pipps loss
now, martingale can open another order if the market still going in the opposite direction, then we might have
Order 1: 0.02
----90-----
Order 2: 0.03
----80-----
Order 3: 0.04
----70-----
Order 4: 0.05
----50-----
Order 5: 0.06
----50-----
Order 6: 0.07
If still going in the opposite direction, we might lose another 0.02 with 390pipps loss.
Now, we might be able to open another order with,
Order 1: 0.03
----80-----
Order 2: 0.04
----70-----
Order 3: 0.05
----50-----
Order 4: 0.06
----50-----
Order 5: 0.07
----50----
Order 6: 0.08
and keeps going, until the market turns back we will be able to break even easier this way.
However, you might also want to add a function that when the steps between each trade after 6th orders, it will keep the same gap or something like that.
Let me know if this is a good idea. I tried on other EAs, it works alright.
Neil, your idea looks very simple. All we need is an individual SL for each order.
So, when 1st one is closed by SL, new martingale deal could be opened.
Am I right?
But u r increasing the risk and loss as well! What if goes on to move in the opposite direction just like we are seeing these days?
But u r increasing the risk and loss as well! What if goes on to move in the opposite direction just like we are seeing these days?
No, we just fix some loss, but most of trades will be closed with summ profit.
But u r increasing the risk and loss as well! What if goes on to move in the opposite direction just like we are seeing these days?
not really, I think it is all about risk management, get rid of the bad trade, don't start your initial order so big, keep your lot coefficient low, etc. lose small, win steadily.
I don't think this is what topic starter wanted.
May be we need to move this to new suggestion. :)
Yes, I have seen this functions on some other EAs.
for example,
1, partial close/partial stop-loss, starting from order 1, any order hit certain pipps, it will be closed.
2, Breakevens after minutes, after 300 minutes, the entire orders will just try to break even. such as, once the total profit hit 1 dollar, all orders will be closed.