EA trade manager

1.       How to enter trades

The EA is supposed to enter two trades both sell and buy and the same level when it is activated. It will include take profit of the trades and when the market moves to take profit it will open two more trades of buy and sell, if there is a pending trade at that level distance it will not open another trade similar to it.

Illustration

Let’s say the level distance is 11 points and take profit is also 11 points the EA will open two trades and market moves up the buy will close at take profit and the EA will open a buy and sell. When the market moves down the sell will close and the EA will put a buy because there is an earlier pending buy.

2.       Slippage and spread

 limits should be available

3.       Lot size

The EA will not adjust the lot size, it will be changed manually

4.       Maximum drawdown

The EA should have a maximum draw down per chart and this will be calculated as below

If maximum drawdown is 30 and the level distance is 20 pips

Assuming the market moves down the buys will be as in negative and when it reaches the maximum all trades will be closed

Buy 1 = -10

Buy 2 = -8

Buy 3 = -6

Buy 4 = -4

Buy 5 = -2

When The maximum drawdown is reached the EA will suspend trading in that chart for specified number of hours or days

When the market moves in one direction to that level all trades will be closed

Send email if maximum draw down reaches 80%

5.       Short long positions

The EA should have option to trade long, short or both positions

6.       Trailing

EA should be able to trail profits and pending trades