View Single Post
  #6 (permalink)  
Old 11-29-2008, 04:39 AM
latimeria latimeria is offline
Member
 
Join Date: Jul 2008
Posts: 43
latimeria is on a distinguished road
Here is an another Equity Manager.

Most Martingale or Grid systems only close positions with profit and leave losing positions.
Account balance keep increasing regardless of real profit / loss and it's meaningless to observe it.
This Equity Manager observes only Equity and close all existing positions and pending orders when it reaches specified profit or loss.

Profit and loss can be defined by an amount of money (for example $1000) or percentage.
Once everything is closed, initial equity will be reset to current equity and keep continue.

how to use:
Attach this on any chart.
Input initial (current) equity before you start systems.
Choose target method (money or percentage) and input profit / loss closing level.
Then, run systems.

*This utility has an "Emergency Stop" funcition also.
It's like an "abort" button.
If you turn it on, this utility close everything and keep closing even if the system is trying to open new orders.
This works for a system that uses pending orders, but it will generate many spread losses for a system that uses instant entry.
So you must be careful when you use this function.

Latest version is available here in this thread. So I deleted old version.

Last edited by latimeria; 12-06-2008 at 03:53 PM.
Reply With Quote