Couldn't sleep very well last night, so I remained flat today despite the setups. After a little sleep I think I'm just going to work on getting this trade manager finished so that I can actually set trades and just let them run with my trade plan worked in for each individual currency pair. At this stage I really only have a couple more methods to write for the actual price monitoring, which is pretty simple overall. The hardest part was figuring out the structure I wanted the program to have so that it could manage the trades without cherry picking them from the list every single tick. This way, I'll have an array of ticket numbers (100 slots, since I'll never open 100 tickets simultaneously) that gets added to for the monitors to check on with every tick. Simultaneous 100 slot arrays exist with all corresponding stop levels and profit targets. The goal of the program is to constantly monitor and adjust preset profit targets and stop levels so that a trader can keep much more control over trades than just having a trailing stop of a specified size or having a stop-loss built in while the trade runs its course. The EA also does not ever change an aspect of the order, so as to avoid some pesky stop-loss errors that appear if price bounces around too much or gets too close to your stop area. Instead it simply monitors each price tick and compares it to a specified stop level which when broken causes the program to close the trade, adjust the order arrays, and continue on. In this way you can actually use this trade manager to manage every type of trade you might be working with. Unfortunately, it will only be running one trade plan at a time per currency so if you are scalping the low volume, low volatility markets you can load the expert with your preferred settings to take small profits and have small stops and then when you swing trade or trade higher timeframes for larger profits, you can simply reload the expert with the new settings and keep moving. The drawback here is the obvious one, if you decide to use one trade type in the middle of this trade manager running, it will not work very well and will require that you either take full manual control or be very wary of the EA and how it will interfere if you're switching to this mode. The obvious counters, if you decide to scalp a bit while your longer term trades are running with the associated EA, you probably won't encounter many problems, however if you decide to enter a swing trade while the EA is set to possible scalping targets, you might get exited early or simply exited for a loss even though the trade is well-within your risk tolerance levels. Now that I think about it I'll just add some functionality to the EA so that trades with the comment "DNM" (Do Not Monitor) will be ignored by the advisor.
Anyway, back to work coding this thing so that hopefully it will be done by tonight.
No comments:
Post a Comment