Compuforex Trade Manager

Hi guys,

Just wanted to let you know that I will be releasing a free trade manager EA for everybody to use.

Some of the folks here will be familiar with my trailing stop EA that I created. If you are not familiar with it, you can read about it over at the donnaforex forum(https://www.donnaforex.com/forum/index.php?topic=3193.0)

This Trade Manager EA is the next step in the evolution of the trailing stop EA and has some exciting upgrades. It will be available for download from my blog soon. I am not a blogger of any sort, so don't expect too much from the site. I have simply chosen to have one central point for much of the work that I do on EA's.

I am just doing some final tweaking and I hope to release it tomorrow, bugs and all😀

Please feel free to use this thread to discuss or raise any issues related to this EA. I will also consider feature request but please understand that I cannot amend the EA for every single person out there.

I also don't wish to be rude but I don't often respond to PM's with requests. If you want a feature, drop by the blog and make a comment. I don't write EA's on request as it is not worth my time and effort, but I do make an attempt to improve the work that I have made freely available.

Oh yeah the blog is at www.compu-forex.com

Hi Ben,

Long time......😄

To answer your question, yes and no😈

It has an internal TP setting that it uses as a reference for reducing the trailing stoploss. As the price action approaches your TP setting, the trail reduces by the same amount that price action is away from your TP. The trailing SL will pretty much be at its minimum eg 5 pips when the price hits the internal TP, but it won't actually set the TP.

I am also working on a version that has some simple trade logic so that people can study settings in the tester/optimiser for different currency pairs and timeframes. Nothing fancy, just 2 moving averages or something similar. Unfortunately it's never as simple as just adding the logic because the tester doesn't work the same as the terminal when looking across currencies🙄

Ok Ben, for you I will make a plan. How would you like the auto TP to work?

BTW, I have found a bug related to pending orders, so please refer to my blog for the latest.

I agree on the turmoil in the markets. It was one of the main reasons that I have been sitting on the sidelines for the last year.

Of course, nothing is ever simple with you Ben😲

Ok, give me a few days.

I think I understand point 1 & 4. Just run by me the difference between point 2 & 3, as the EA will set the TP the moment it detects an order, so in theory the open price & the current price should be the same?

I am also a bit uncertain about point number 5, can you expand on it?

BTW, there is already some Auto SL setting logic in the EA.

Thank you Kenny!

It's really great to see there are very useful free developments around. 😄

Hi Ben,

Few busy days at work, so just looking at this now. I have started coding this but need to point out that point 2 is not really compatible with the trade manager.

There is no way for CFTM to know what your desired OpenPrice was, or what the slippage was on your order. Same goes for point 5.

If you have a suggestion as to how to implement it, I'm all ears tho😀

Ah, Ok....I think I'm getting the picture now. I was equating the openprice to the current price and the order price to the price that you wanted to make the order at. My bad.

Ok, I think it is done. Not much to be done until the markets open and I can do some testing. Once I see that it works, I'll post it on the blog.

Thanks Ben, its the thought that counts.....lol.

Anyway, it's up on the blog. Come and get it. Requires testing though.

When the EA takes over management of a 'bad' trade, it has to start the TP somewhere. This is the Init_Perc(initial percentage). So if you have trade that is 20 pips in the red, it will move the TP to halfway between the open price and the current price ie your TP is set 10 pips above the current price.

The problem here is that over time the price action may continue to move against you, so it is no good for the EA to just follow the price action at a 50% trail. The idea is that the TP will move towards the price action at the decay rate. The rate is % change per minute, so the default of 0.5 will close the trade after 100 minutes(in the worst case).

Normally the SL is set by you in the INITIAL STOPLOSS setting. When the STP routine kicks in, you have the option to leave the SL where it is, or move it closer to the price action(SL_Decay). In the latter case, the SL will be positioned the same distance away from the price action as the TP, so as the TP closes in on the price, so does the SL. It will then close in as close as it can considering the stop_levels(still a bug here, so you may see some invalid stop errors but it is not critical).

On the screen display, when the Wait_Mins are up, you should see the trade move to the Sliding TP column and it should display the estimated max loss which intially woud be 1.5 x where the trade currently is.

The STP function can take over management of a positive trade as well(it does this anyway for trades that have not activated the trailing SL). In the case(STP_Only_Mode), it will set the TP to 50% above the current price and decay it from there towards the price action.