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Author Topic: Advanced Trailing Stop EA  (Read 118624 times)

Offline Pipstar

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Re: Advanced Trailing Stop EA
« Reply #15 on: February 24, 2011, 10:13:21 PM »
G'day Kenny,

This is brilliant. My problem with Growthbot, which is common to others who manually close trades on that bot, is that it reaches a peak and then retraces so far that nearly all the profit is lost, ie on FxPro recently it opened 5 trades, reached a peak total of 635 pips (that I noted) and closed out at 122 pips, a loss of at least 513 pips. This scenario is common to this bot. It seems to me that it is possible to apply your EA to solve the Growthbot problem. I am not au fait with all the terminology used to describe your parameters. Which input parameters would I need to code (enter/fill) so to allow GB with retracements to reach its peak and then to close out individual or all the open GB orders, once each order value or the sum total of the orders retraced a certain percentage of the peak value?

Knut :'(   ;) :o ::) ???   

Offline kennyhubbard

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Re: Advanced Trailing Stop EA
« Reply #16 on: February 24, 2011, 10:24:39 PM »
Hi Pipstar,

I use the default settings, but cannot vouch that they are the best. It is something that you need to experiment with, and (hopefully) members here will share what is working for them. As an example, yesterday, the trail managed to snag 216 pips off about 5 trades in about 2 hours, which I was very comfortable with. FGB eventually closed out for slightly more, after something like 12 hours + and having gone right down to almost nothing. I was quite happy to watch the action with my pips in the bank, and even if the bot goes on to take 500 pips, it matters not. I don't need to take every pip right up to the peak, I just need to take some of them.

Your settings depend very much on how you view the use of the trailing stop. Some people like to give a wide trail so they can catch bigger trends, some people like to catch more pips off a trade sooner but risk getting stopped out early.

Unfortunately the EA cannot close all trades, it only trails each trade individually based on the parameters set.

I'm sorry I can't be of more help, but if there is something specific about the terminology you would like to ask, by all means...........
« Last Edit: February 24, 2011, 10:29:23 PM by kennyhubbard »
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Offline Pipstar

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Re: Advanced Trailing Stop EA
« Reply #17 on: February 24, 2011, 11:27:00 PM »
Hi Kenny,

Thanks for the prompt reply. I dont mind missing the peak as long as I collect most of the pips (80-90%) and do not like being closed  out low (10-20%). Were you using your EA to control the 5 trades (FGB?) by currency pair EURUSD or by magic number? Were the 5 trades closed at the same time or over a period of time?

Thanx,
Knut
« Last Edit: February 24, 2011, 11:29:20 PM by Pipstar »

Offline kennyhubbard

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Re: Advanced Trailing Stop EA
« Reply #18 on: February 25, 2011, 12:41:21 AM »
Pipstar,

The default settings will  control the trades, in fact, ALL trades. If there are other trades that you do NOT want the trailing stop to take control of, then you need to exclude them by using magic number, and/or currency pair.

The trades were closed at slightly different times......this EA controls each trade individually, so the exact status of each trail is slightly different.
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Offline SouthernPitBull

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Re: Advanced Trailing Stop EA
« Reply #19 on: March 02, 2011, 05:29:11 AM »
could you add a decay rate in pips per bar? I really like the way this thing lets me handle trades. +k keep the updates coming  :D

Offline kennyhubbard

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Re: Advanced Trailing Stop EA
« Reply #20 on: March 02, 2011, 02:49:01 PM »
SPB,

I don't see myself changing the % to pips per bar. I know that everybody has their own favourite techniques, however, I would prefer to make this a cutting edge tool that does its thing exceptionally well, rather than customising it with lots of options.

That said, if you have some empirical data and can put forward a solid case of why the pips/bar trails would be better, I am open to being convinced.......

At this stage I consider this to be a dumb trailing stop. I have big plans to develop this into an adpative technology, that will  use a combination of things like S & R to determine good trail steps, as well as logic to self optimise settings internally based on trade history and an analysis of the different results that would have resulted from different settings.

This will be further extended to include an exit strategy for losing trades, so that it will optimise the exit on trades that go wrong.
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Offline DaveL

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Re: Advanced Trailing Stop EA
« Reply #21 on: March 03, 2011, 09:55:13 PM »
Small suggestion Kenny, might be handy if you edit the first post and post new versions there, makes it easier to find than crawling back through many pages as the thread grows ;) I know there's the paper-clip function, but just a thought... That way when you post an update you can refer to first post & version number :)
starting over...

Offline Rico

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Re: Advanced Trailing Stop EA
« Reply #22 on: March 05, 2011, 05:19:16 AM »
What a great EA, Kenny, thanks.

May you and your children be blessed!  ;D

Offline bossman007

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Re: Advanced Trailing Stop EA
« Reply #23 on: March 10, 2011, 09:02:29 AM »
Many thanks Kenny for this tool, which may solve the problem I had with FGB!

I had a refund of FGB but if this works on a demo account, I will re-purchase if the problems I had are solved!

Again, many thanks, for what looks like a great tool.

Happy trading to all

bossman007

Offline craze

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Advanced Trailing Stop EA
« Reply #24 on: March 12, 2011, 09:38:21 AM »
Which is the latest version?  Thanks

Offline kennyhubbard

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Re: Advanced Trailing Stop EA
« Reply #25 on: March 12, 2011, 10:05:28 AM »
Latest version always attached to first post.
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Offline jsintl

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Re: Advanced Trailing Stop EA
« Reply #26 on: March 13, 2011, 02:34:39 PM »
Hi Kenny,

A newbie here.  Do I have to put this trailing EA on another chart using the magic no. as the control or can I attach it on the same chart as the original EA.

Tks a lot.

jsintl

Offline kennyhubbard

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Re: Advanced Trailing Stop EA
« Reply #27 on: March 13, 2011, 05:09:10 PM »
jsintl,

You can only ever have 1 EA on a chart.....you may load as many indicators as you like on a chart but never more than 1 EA.

Place this EA on a sepaerate chart of the same currency and give it the same magic number as the other robot.

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Offline jsintl

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Re: Advanced Trailing Stop EA
« Reply #28 on: March 13, 2011, 07:58:46 PM »
Tks a lot for the info.

Another thing, will this trailing EA take over or manage in case FGB lost control of the trades due to re-start

Brgds,
jsintl

Offline kennyhubbard

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Re: Advanced Trailing Stop EA
« Reply #29 on: March 14, 2011, 12:09:59 AM »
Yes, it will. In fact, it will take over FGB trades with or wthout the restart.
Wealth Creation Through Technology
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