GA Take Profit $ per 0.01 (net of lots)
Hi everyone. I will first present my strategy and facts so at the end of the post I suggest a new feature for CP EA.
I currently use a hybrid (automatized and manual) defensive strategy for trades that goes in opposite direction of my entry. I use the EA to open any type of trade using the EA indicators and after the “n” martingale (generally 3rd – 5th), every new position will have a hedge at the same price, that I manually manage to stop with some gain. I do this by setting the hedge section as follows:
My first attempt on demo account indicated that I needed to set a take profit based on currency rather than points, otherwise spread would kill me. See picture below for the trade I made where buy (blue circle) and sell (red circles) positions were set to close at the same price, however spread killed me.
See below the same trade on MT5 history tab where spread affected the final $ result significantly, remember that the stop loss of the sell positions were all set at the same price.
So, currently on my live account, I am running a zero spread live account, but even with that, there are small differences on bid/ask for opposite positions. This led me to manually set the GA Take Profit (account currency) parameter to net “x times” $ per every 0.01. I mean if my original Take Profit on my system is “x” points, I turn Take Profit parameter to zero and translate that to $ by 0.01 and multiple by consolidated buy and sell positions I have opened, every time that my consolidated positions volume change. Ultimately, this methodology gets around very well the spread issue when closing buy and sell position at the same time. See table below for example.
My suggestion on this is to implement a new parameter field to CP to close by Consolidated $ Currency by 0.01 on the Global Account section that will close all positions when such floating value is reached. This new parameter could be “GA Take Profit $ per 0.01 (net of lots) (0 - disable)” right after the “GA Take Profit (account currency) (0 - disable)”
Thanks for your comment, but that will not help my Global Profit per lot, since spread is variable overtime. Also, my ultimate goal with this is to close main series and hedge at the same time as described above.
Tarso, you mixed up something...
GA TakeProfit (account currency) considers all spreads for all opened positions. So, if it says "closing all positions with profit 5 USD", profit after closing must be 5 USD.
The only 2 things that can change actual value of closed profit are:
- slippage (that can't be forecasted)
- and commission that applies separately to closing deals (some brokers use this type of commission).
And, as Sai suggested, you have to set the correct commission value (roundtrip, in + out) into the Custom commission field.
If prices will not change while positions are closing, you will have the exact value of profit you wanted to close.
Slippages can be taken into account only approximately. Just increase you TP size by some average value of previous slippages. So, if you always have +1 instead of +5, set +9 and you'll have +5 in average.
Please, let me know if it works for you.