1 (edited by hannahis 2015-10-23 09:42:55)

Topic: Profit protection using Break Even function

Hi Popov,

Can you able to modify the Break Even function with a profit protection feature?

Currently the Break Even if set to 150 means that if the trade reached the Break Even value (eg 150 pips), the SL will be over ride to the opening price (instead of the original SL).

Can I change the "script" or "command" so that if I set BE to 150 pips, the SL will be over ride to 50 pips (+50) from the opening price instead of (0 pips from the opening price, ie. same as opening price).

It would be helpful if you can add in this extra function, whereby we can choose how much profit protection we want to have (+50 or +100 etc) when the Break Even value is reached.

But if this feature can't be added, can you direct me to the FSB script or command whereby I can change/modify this Break Even command to add in 50 pips instead of 0 pip from the opening price?

Hannah

Re: Profit protection using Break Even function

This is a long time request and a nice adding to FSB.

Now I'm redesigning the Expert Advisor scripts. It will take me 5-10 days more. When it is ready I'll start working on trading protections. I think to divide the Strategy Properties in two parts - entry and exit options. The entry option will be what we have now, but I want to add more trading protections to the exit options. For example Trailing Stop, End of Day Exit, Friday exit...
I can include Break-Even guaranteed profit option here.

All these options will work as addition to the normal strategy closing rules.

I'll start working on this probably at the beginning of November. The code will be available as preview and I'll be open for ideas and suggestions.
I think we can go even further and to make these functions available for customization. I think for something like very simple custom indicators or scripts.

3 (edited by hannahis 2015-10-23 10:47:37)

Re: Profit protection using Break Even function

Yeah!!!!!! Popov, what you just wrote sounds like music to my ears!!!!

I'm already so excited and happy....just can't wait.  Thanks so much for taking our suggestions into consideration! 


If you can, please let the "Previous Bar Value" an option...do treat us as adult, we aren't that silly to risk our money without testing extensively...any way FSB is for experimentation and exploring and breaking and developing new trading concepts etc.  Please smile


Thanks once again for everything, I just can't contain my joy!!!

Hannah

4 (edited by hannahis 2015-10-23 11:38:54)

Re: Profit protection using Break Even function

The reason I want PBV to removed because I want my EA to trade on every tick data and not restricted to bar opening or closing.  This is extremely beneficial for those intending to use H4 to generate EA with longer historical data but not let the 4 hours "delay or lag" in executing the trade.  So that EA can enter position the very moment of crossing and not wait till 4hours later or next bar closing to execute it.

Without PBV restriction, higher time frame EA would be more responsive like the 1 min time frame but with added "stability" in developing the EA with longer historical data and profit calculation is based on tick data instead of at the point of bar opening and closing.  Because in 4 hours duration, the price difference can be huge and it's unrealistic to trade this manner.

Without PBV, the EA can behaves more like real trading style, cos honestly no experience traders trade with a 4 hours delay even if he is using a H4 MT4 time chart to make his decision.  I want FSB EA to behave more like realistic and actual trading style.

Hannah

5 (edited by hannahis 2015-10-23 13:25:51)

Re: Profit protection using Break Even function

Hi Popov,

Are you also working how what we discussed before about the ability to calculate how well a strategy's profit would be based on entry and exit accuracy (as I mentioned about Myfxbook discussion), whereby we can know how accurate the entry and exit the strategy would be? 

If we can pick a highest/lowest peak as the point of calculation for certain time frame, eg. 1 day, 1 week or 1 month (depending on one's trading style position trader vs scalper etc), then we can formulate strategies based on this reference point and able to optimised base on a given set of indicators parameters.  It's another way of approaching strategy development, we begin from the end point and trace it back to the starting.  Since based on historical data, we can tell the peaks and the trough, we can then calculate/optimised the parameters based on the selected indicators.

It's like deduction method...knowing the answers (highest peak and lowest trough) and connecting the dots.  Finding out which formulas/strategies/indicator parameters that can fix into these two dots as close as possible or nearest to the "line"

Hannah