This routine closes the biggest loss, might be an alternative to get rid of the floating orders. feel free to implement it!


extern int CloseOrdersPerWeek =5; // 0-5, close most loosing position, 5 = each day one
extern int MaxLoss =-5; // $$

//+------------------------------------------------------------------+
void TimeClose()
{
double Order_Profit=0;
if( Hour()>=12 && Hour()<13
&& Minute()==1
&& DayOfWeek()>0 && DayOfWeek()<6 && DayOfWeek()<=CloseOrdersPerWeek
&& DayOfWeek()!=DayOfWeekDone )
{
DayOfWeekDone=DayOfWeek();
for (int y = 0; y < OrdersTotal(); y++)
{
OrderSelect (y, SELECT_BY_POS, MODE_TRADES);
if (OrderMagicNumber() == magic && (OrderType()==OP_BUY || OrderType()==OP_SELL))
{
if (OrderProfit()< Order_Profit) // only negative
{
int Ticket=OrderTicket();
Order_Profit=OrderProfit();
}
}
}
// Print (Order_Profit,DayOfWeek());
OrderSelect (Ticket, SELECT_BY_TICKET, MODE_TRADES);
if (OrderType()==OP_BUY && OrderProfit()< MaxLoss)
{
if (OrderClose(Ticket,OrderLots(),Bid,Slippage,Black) )Print ("BUY order closed, P/L = "+OrderProfit());
else Print ("Order close error: "+GetLastError());
}
if (OrderType()==OP_SELL && OrderProfit()< MaxLoss)
{
if (OrderClose(Ticket,OrderLots(),Ask,Slippage,Black) )Print ("SELL order closed, P/L = "+OrderProfit());
else Print ("Order close error: "+GetLastError());
}
}
return(0);
}

//+------------------------------------------------------------------+

Excellent!!!!

Hi everybody

This method simply doesn't work.
In 24 hours we can have floating PL of hundred $$$
Let's you close say a position of ~ -100$ but your profit rate simply can't keep up to compensate loses.

10 day simulation with default settings, 2000$ starting balance, lot=0.01:

With your code:


And default EA without your code:

You are right, it seems that we need a more intelligent method...

Hi, I have seen many indicators along the post, but I am confused. Which indicators? Uses exactly this PIPMAKER V10-1 ...

Summary: Start date : 14/01/2007

Deposit/Withdrawal: 5 000.00 Credit Facility: 0.00
Closed Trade P/L: 1 717.21 Floating P/L: -154.11
Margin: 329.96
Balance: 6 717.21
Equity: 6 563.10
Free Margin: 6 233.14

Not bad

Michel

Statement: 117540 - PIPMAKER V10-1

__________________
[Sorry for my bad english , I'm from Belgium and I speak french]

Hello All

Here is a handy indicator to put on your chart to help to determine trend.

I don't know if it could be incorporated into PipMaker..

Attached Files

_Signal_Bars_v3_Daily.mq4 (40.3 KB, 108 views)

Hi all,

Thank you all for this EA. I went live with this EA couple of days ago trading the settings that Micheal provided. plus SL/100(I believe in the cut the loss quickly the system will generate more profit).
After seeing many EA's and participating in building several famous ons without any sensible results, I saw potential in this EA and tested it and now trading it on live account with micro lots.

It doesn't need any modification in my opinion(v10), it is a profitable EA. I trade myself for couple of years and have also managed account with FXCM and have followed Galleon too. there are many others systems/EA's in action if you go to fx-performance.com to see their trade history.

This EA has outperform them all in these past months I was testing it. Luckily January was one of the most difficult markets I have seen. the trade results are something similar to the ones that Michel publishes so I won't attach the results.

Good luck everyone and god bless.

Ross.

Yes, is good EA, but have this problem with floating PL.
Sooner or later will crash your account.
Just run a simulation for 3-4 months.

Consider 100 Pip SL. It works fine specially if you are trading micro or mini and increase the number of trades to 10 each way. what I did on occasions was to close trades manually when a big opposite move (against the current trend) had just happened. But believe me this EA is very profitable.

Hope it helps.

Ross.