Max floating loss — don't open new deals if floating loss >= specified value
Replies 16
It looks like "Max floating loss".
EA is not allowed to open new deals if floating loss >= specified value.
Correct?
About Margin used (not margin exactly, equity or drawndown used by the EA) on open positions.
I would like to stop opening new trades when Used Margin (equity or drawndown would be better) become 1000.
For example, we have open deals that are summing -1000 (imagine a BUY currently at +500 and a SELL currently at -1500 the open trades would summ -1000). The EA would stop opening new deals.
Additionally if you want to code also the option of closing all deals and stopping trading would also be good, as an alternative option (how we would resume trading in this option?)
was it clear now? (It is difficult to me to explain)
Are you about Margin used in opened positions?
Or about losses?
Do you want EA to close all deals and stop trading when it's loss became 1000?
Or do you want EA to stop opening new trades when Used Margin became 1000?
It is still not clear enough.
Not exactly. I think I was non-precise again. My fault.
Maybe it is better to use "UseEquity"
If UseEquity = 1000, it will stop opening new deals when it uses 1000 of equity (not necessarily the balance or equity will be 4000 once we can have other EA on the same account, also using equity, so it is important to calculate the equity used by the EA's magic number).
Eventually, it can use more equity in trying to close the already opened deals, or we can have an additional selection when it reaches 1000 (like choosing among "stop opening new deals" or "close all open deals and stop EA" or "close all open deals and continues").
If we use "UseBalance" that would imply that we lost 1000 before stopping new deals, and that wasn't what I mean.
I am very sorry again.
Just to make it more clear: if UseBalance = 1000 and EA starts trade on account with 5000, it will stop when balance became less than 4000.
Exactly.
Alternatively, if we have the option to choose between that and closing all trades would also be good.