I'll add that option. Should have within a few days.

No permission needed, just remember I never claimed this EA would actually work and be profitable. So, USE AT YOUR OWN RISK!

Almost done with v1_2.

Added features will be:

1. Choose if you want to close by percentage of account equity, or close by a set dollar amount.

2. Choose if you want a MA to decide starting direction, or choose manual start by setting a long and short price point in which to start trading. (once cycle closes you would need to manually set new price points)

Should see within 24hrs. I want to make sure it works properly.

ahhh...that is good...so the EA will not autorestart if it exits a trade set while I am sleeping...very good indeed..

ES


2. Choose if you want a MA to decide starting direction, or choose manual start by setting a long and short price point in which to start trading. (once cycle closes you would need to manually set new price points)

hi wolfe...

thanks... very much!

guess

wolfe,

after 24 entries the EA stopped adding ...is this in the code?...I have the max trades set well above that. There are not any errors in the tabs.

I am using 0.01 start and 0.01 increment in the USD/JPY on a IBFX mini demo account.

This happened after a retrace and I ventured into a positive float and eventually the TP took over and I exited at a profit...but again why did TFX stop at 24 trades?...is there something special that happens that I am not aware of?

Folks, I am telling you that if you use 0.01 start and 0.01 increment with a 16 next trade in the USD/JPY you will get the time to get a pattern that will get you out with a profit. It's just... if this is the stlye of trading that you like and how long you are willing to wait (but the yield can be double digits...maybe triple digits). Using such small increments with the historical range that the USD/JPY represents will let you survive. Why did I pick the USD/JPY ? Well if an EA can survive it, that is the best pair to test hard with.

I think the most unique attribute this "Modified Martingale" represents is the pyramiding mode it can enter into. It is not just an alternating buy...sell...buy...sell...grid formation

it can be a buy...sell...buy...sell....sell...sell....(said in Cramers voice)

ES

P.S. You might be asking how does the logic handle the pyramiding and break off from it alternating buy...sell...buy...etc sequence...Well this is how...if TFX hits a sell and does not counter back up by 16 pips to a buy and continues trending down without doing that...it will skip the buy and just keep entering sells on the way down until the maxtrade or the TP hits...Hint: If you trade a pair like the EUR/GBP...you cannot use a next trade of 16.

I'm not sure why you are having that problem ES. I'll try to figure out tonight. I guess there are still a few bugs. I gotta go to my "other" job now.

Should see v1_2 tonight.

ok wolfe....

Believe me...I understand...

ES

Wolfe,

Did you write the take profit and stop loss % to be based on account balance before the trade progressions begin (I believe this is what I requested wasn't it)? The EA has been taken profits, however, all the open positions have not added up to the % TP that I have set. Could you please explain why? All the orders should be closed on either the SL or TP being hit. I can send you print screen if needed.

Thanks,
lcfxtrader

Lcfx,

Please excuse the interupption. I think wolfe is at work and I wanted to post with you so that it may be more clear for him, when he comes back to read this.

There are two possibilities...There is banked balance or floating equity.

Banked Balance would always be before and is most common...is this what you want?

ES

P.S. However your next trade will give you a harder target to reach as you will be using the same exposure.

P.P.S. I have started a page in my blog concerning this thread.

ES,

My opinion is that the TP and SL is based on all the open positions (floating).
Percentage of the account for each is determined and entered into the EA before the start of the progressions.

EX: Staring balance is $10000
Take Profit set to 2% of starting balance (all open orders would close when this value is reached)
Stop loss set to 1% of starting balance (all open orders would close when this value is reached)

Please explain if there is a better way. My initial start would be .1 lot with an increase of .01 lot for every next trade set at 10 pips.

Thanks, LCFX