Breakeven Strategy

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Re: Breakeven Strategy

Postby Vantages » Tue Jun 24, 2014 8:03 pm

Hello MooMooFx,

I'm thinking about how to maximise the BREAKEVENALL strategy a bit more. Since, I think it would be better if it will trail the profits more efficiently and a modifications to add CLOSEALL at certain total profits or CLOSEALLPROFITS(when the market price reaches the average of all open positions<half of those are in negative and another half are in positive> will only close all positions with positive) this will ensure protection and profitability even if market price are very volatile.
OR
What about the ability to enter new positions progressively ? By the time it moves the stop to breakeven level and so much more if it starts to trail the profits, would it be a lot better and more profitable to any one if it starts to open new positions ( only when there are profits to risks going forward ) ? This is like adding to a winning positions and to go for the jugular trades. There will be no added risks here in trying to accumulate new positions as long as we are only risking what we gain and not our capital.

Please let me know your thoughts on the idea. Thank you and have a nice day!

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Re: Breakeven Strategy

Postby Apprentice » Fri Jun 27, 2014 3:59 am

Your request is added to the development list.
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Re: Breakeven Strategy

Postby moomoofx » Sat Jun 28, 2014 1:15 am

Hi Vantages,

Thank you for your suggestions and feedback. You have posted numerous times, each with different content and leading to different directions.

The point of the BREAKEVENALL strategy is to capture a certain amount of pips (or zero for break-even) once a certain profit level is reached. This is done by simply creating a stop order at the specified gap - trailing can also be set. It is not designed to be a trading strategy at all, and never will be.

Two things concern me:
1) You said in the first post there was an error, and I asked for details but you never mentioned it again. I am very interested to know if there are bugs or errors in the strategy - please clarify this.
2) It seems to me like you do not know what you really want as your request enhancements are always changing. Please have a good think about what you want and when you are finalized in this, post your request on the Indicator and Signals request forum: viewforum.php?f=27

Thanks,
MooMooFX
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Re: Breakeven Strategy

Postby Vantages » Sat Jun 28, 2014 2:24 am

Hi MooMooFx,

Thank you for your response.

First, sorry if I gave confusion to my posting by relaying the day-to-day
scenario of my live account using HA RSI together with BREAKEVENALL.
I thought I'm giving a clear picture by doing that.
Second, the error appears only when I don't put stop in HA RSI(because I never put stop in all my positions before). I am managing that already. It works fine now. However, settings <PROFIT10><GAP5> making the profits gained steady to 5 even if the position/s gained 30pips or more. TRAILING function confuses me, I thought with my settings the limit will move each 10 by 5,
meaning the profits of 30 should have moved the (trailing) limit to 15. Please clarify.
Third and lastly, if I may request for some modifications like:
>MOVING STOPS TO BREAKEVEN,
>TRAILING PROFITS,
>>CLOSING AT PROFITS ( closing positions with profits only leaving the positions with negatives),
>>CLOSING ALL AT PROFITS ( closing all positions with pre-determined value ).

The said modifications if granted will be beneficial to those who accumulate a lot of shares at different levels and market prices.

Thank you very much for your time.

Vantages
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Re: Breakeven Strategy

Postby moomoofx » Sat Jun 28, 2014 8:59 am

Hi Vantages,

Ok so you say the error happens only if you do not set stops. Can you tell me what the error is please?

By looking at your requested enhancements, it seems to be that you do not understand how the strategy works because 2 of them are already supported - so let me try to explain how the strategy works.
- Min Profit defines the min profit that must be reached so the Stop can be created or updated.
- Lead Gap is how many pips gap from break-even to set the stop.

Therefore,
- if Profit = 10, and Gap is zero. A stop order will be created to break-even (meaning Profit of zero) when the Profit level has reached 10.
- if Profit = 10, and Gap is 5, then a stop order will be created at 5 pips profit when the profit has reached 10.

If trailing is set to true, the stop will be a trailing stop in dynamic mode - meaning it moves every pip (not every 10 or every 5 or anything like that - this is not configurable).

Does this make sense? So, going back to your enhancement requests
MOVING STOPS TO BREAKEVEN: This is what the strategy is designed for. Set the gap to zero, and Profit to the profit level when you want the stop to be created to break-even.
TRAILING PROFITS: Set trailing to true, and when the stop is created it will be of type trailing. Obviously if you want it to be in profit instead of just break-even, make the Gap > 0.
CLOSING AT PROFITS: This is just a Limit order. Why do you not configure your trades to have a certain profit target when the trades are placed?
CLOSING ALL AT PROFITS: This enhancement can be added.

I hope this helps. Remember, I'm on holiday so do not expect fast responses from me.

Cheers,
MooMooFX
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Re: Breakeven Strategy

Postby Vantages » Sun Jun 29, 2014 9:27 pm

Hello MooMooFx,

The error appears to be :
"Failed to change stop xxx . The stop value must be positive real number > xxx"
I believed the above error with real accounts was due to wrong inputs to BEAll Strategy. No bugs I guess. It performs smoothly now.

On the other hand, what's amazing about participating in the financial markets is that we are looking at market prices everyday but with different and unquantifiable perceptions with regard to its directions. I have enough experiences to share - your BEALL strategy will be so important to me.
Please forgive me for being too critical with the strategy, It will be attached to almost all of my real accounts. I've wriiten four (4) functions, two (2) of which are given functions and two (2) as a request for enhancements and as a matter of strategy's function sequence, I'm doing those manually with my real accounts for three (3) years now and I'm so glad you just did it for us.

Furthermore, putting limit order is totally different if you are positioning at multiple levels if one would want to exit at breakeven level and would want to close all just the positive trades leaving the negative trades. Wish I could explain and elaborate my own approach here.

Laslty, If I may write the specifics of my requests:
Functions to:
1> Trailing profits from the gap.
2> Closeatprofits all positive trades-symbol at breakeven level.
3> Closeallatprofits all trades-symbol at pre-determined pips or grosspl.

Thank so much for your time. I appreciate all your responses.

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Re: Breakeven Strategy

Postby pinimo » Wed Aug 06, 2014 11:39 am

This strategy works very well ;) , there is only one problem...sometimes the strategy pauses by itself and you have to restart it manually. I noticed this thing when the strategy is active on more than one currency pair but but I could not figure out what condition causes this problem.

some consideration?
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Re: Breakeven Strategy

Postby Apprentice » Sat Aug 09, 2014 4:42 am

This is buildin functionality.
It will close underlying strategy if associated position no longer exists.
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Re: Breakeven Strategy

Postby toxxum » Tue Dec 16, 2014 10:42 am

moomoofx wrote:Hi all,

I have re-written this strategy to support all open trades so you do not have to specify the trade in advance and it only works per account and per symbol so if you don't want your trade to be impacted by this strategy, put it on another account. I also tried to implement trailing stop losses as someone requested that.

Cheers,
MooMooFX


Great script, really, am lovin' it! I have tried it on a demo and am using it on my live account. I see only a small problem: Say I have 4 open positions, all in profit and the SL has kicked in. Now I am adding a 5th lot, obviously at a worse price so the SL has not been set by the script. That is unfortunate, because if I get stopped out of the first 4 positions, I naturally also want to get stopped out of the 5th one. Is there any way (without spending too much time on it) to modify the strategy in such a way that it looks at the average price of all 5 positions and sets the stops accordingly?

Thanks a bunch!
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Re: Breakeven Strategy

Postby moomoofx » Tue Dec 16, 2014 7:08 pm

"Net Stop" mode such that it sets the stops on all trades to be the net break-even --- added to the to-do list.

Cheers,
MooMooForex
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