Tutorial Money Management

Discussion in 'Forex Expert Advisors and Automated Trading' started by Md Saidul Islam, Nov 25, 2018.

  1. Md Saidul Islam

    Md Saidul Islam Member
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    Hey Buddys :),

    today I'm sharing with you a pretty simple EA that I'm using to manage my trades. It works also pretty well with other profit scalping and maritangle EA's to reduce the risk of trades.

    It can:
    1. Manage your loss / winn & stop your trades & EA's on a special point of loss / profit in
    1.1 Pips
    1.2 Percent
    1.3 Amount / Money
    2. Manage Trailing stops
    3. Many others :)


    Here is the full way to use it:

    • Double-click the script to execute or attach it to the desired chart
    • Once started EA will start monitoring current account equity and all upcoming closed trades
    • You can set EA to close all trades and disable all EAs when account equity reaches a certain loss or profit level in percent, money or pips. You can choose multiple options like close all trades when account reach certain profit in percent or certain loss in money.
    • You can set EA to close all trades and disable all EAs when certain cumulative profit or loss level is reached in money or pips.
    • Profit or loss target in money depends on your account currency. If you have USD account, profit/loss target will be in USD, if your account is in USD, profit/loss target will be in USD.
    • By default EA will manage all trades running on your account, but you can override this by setting certain magic number in EA settings.
    • All values must be positive.
    • By default EA is set to disable all Expert Advisors on equity trigger. This means that after EA will close all trades it will try to disable all EAs by virtually clicking “Expert Advisor” button on your Metatrader toolbar. This will disable all EAs including Equity Sentry and no trades should be opened by any EA until manual intervention. Note that we can not guarantee that this will affect all EAs. Some EAs (like for Renko or other offline charts) work in different mode and they can not be disabled until removed from chart.
    • You can set EA to use Trailing Stop and/or BreakEven function on your trades.

    Here is the explenation of all settings:

    DisableAllExpertAdvisors
    by default this is set to true and it means that EA will disable all Expert Advisors on equity trigger or certain cumulative profit/loss reached. This means that after EA will close all trades it will try to disable all EAs by virtually clicking “Expert Advisor” button on your Metatrader toolbar. This will disable all EAs including Equity Sentry and no trades should be opened by any EA until manual intervention.

    CloseMetatraderCompletely
    by default this value is set to false. If you set it to true EA will close MT4 platform completely on equity trigger or certain cumulative profit/loss reached. This is very useful if you use trade copier software to receive trades as most of the trade copiers does not stop operating when “Expert Advisors” are disabled.

    EquityLossPercent
    when account loss equity in percent will reach this value EA will close all trades. Set this value to zero to disable it

    EquityLossMoney
    when account loss equity in money (account currency) will reach this value EA will close all trades. Set this value to zero to disable it

    EquityLossPips
    when account loss equity in pips will reach this value EA will close all trades. Set this value to zero to disable it

    EquityProfitPercent
    when account profit equity in percent will reach this value EA will close all trades. Set this value to zero to disable it

    EquityProfitMoney
    when account profit equity in money (account currency) will reach this value EA will close all trades. Set this value to zero to disable it

    EquityProfitPips
    when account profit equity in pips will reach this value EA will close all trades. Set this value to zero to disable it

    MagicNumber
    this is where you set magic number. If set to zero (default), EA will manage all trades. Set this variable to a certain value and EA will manage only the trades with the specified magic number

    CumulativeLossMoney
    when cumulative profit/loss amount in money (account currency) will reach this loss level EA will close all trades. Set this value to zero to disable it. Value must be positive.

    CumulativeLossPips
    when cumulative profit/loss amount in pips will reach this loss level EA will close all trades. Set this value to zero to disable it. Value must be positive.

    CumulativeProfitMoney
    when cumulative profit/loss amount in money (account currency) will reach this profit level EA will close all trades. Set this value to zero to disable it. Value must be positive.

    CumulativeProfitPips
    when cumulative profit/loss amount in pips will reach this profit level EA will close all trades. Set this value to zero to disable it. Value must be positive.

    TrailStopStartPips and TrailStopMovePips
    EA will activate Trailing Stop function when trade goes in profit by pips value set in TrailStopStartPips. Once activated EA will move stop loss in profit every pips value set in TrailStopMovePips

    BreakEvenStartPips
    sets how many pips trade should get into profit before stop loss is moved to the entry price. BreakEvenMovePips is used to set how many pips EA must add to the entry price if you want your trade to be closed in profit on reverse.


    Happy & Save trading!:eek:k:
    :rock:
     

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    Last edited: Nov 26, 2018
  2. Ol

    Olufemi Ayodele New Member
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    Where is the EA?
     
  3. Ol

    Olufemi Ayodele New Member
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    I guess this is the EA
     

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  4. Ho

    Hoàng Anh Tuấn Member
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    i have source code
     

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  5. Ca

    Carakaplus New Member
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    Thanks a lot ,rhis usefull for MM trading
     
  6. to

    tomas New Member
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    thanks for sharing
     
  7. ne

    nejcjost New Member
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    Thanks for sharing.
     
  8. Ja

    JanggutBull New Member
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    thanks for sharing
     
  9. ve

    veronicaanas New Member
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    thanks for sharing
     
  10. se

    sean New Member
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    thanks
     
  11. Dominic Damoah

    Dominic Damoah Member
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    Very well done ... `this is the most important .... God bless you bro
     
  12. Dominic Damoah

    Dominic Damoah Member
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    This is one of the best tutorials I have seen in years .... Great job
     
  13. ci

    cicak New Member
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    Thanks for sharing.
    God bless u brother
     
  14. az

    azelbon New Member
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    This is great! I need this! Thank you so much
     
  15. ju

    juniorsilver New Member
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    Wow!! This is really useful. Thanks
     
  16. ju

    juniorsilver New Member
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    Very true. i need to set it up in my account to monitor my EAs activities
     

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