Money management based on Turtle System

[Henry Latourrette]

Hi everyone.

Does anyone know how can I add a money management strategy based on the turtle system to my EA?

It is, if X event happen, then.. open long/short with lot size according to the following formula:

Lot size Unit= (0,01x Account Balance) /(Contract Size x ATR (20) x Dollar Pip Value)

Then open 3 orders of the same lot size and on the same direction every 1/2 ATR. No stop loss and no take profit.

Thanks!

[phi nuts]

henlatourrette:
Hi everyone.

Does anyone know how can I add a money management strategy based on the turtle system to my EA?

It is, if X event happen, then.. open long/short with lot size according to the following formula:

Lot size Unit= (0,01x Account Balance) /(Contract Size x ATR (20) x Dollar Pip Value)

Then open 3 orders of the same lot size and on the same direction every 1/2 ATR. No stop loss and no take profit.

Thanks!

1. No stop loss, isn't that a lot of risk ? From what I read here, turtle money management have a huge drawdown, and that why it uses no Stop loss at all - or perhaps, ... I read the wrong article ?

2. In mql5, account balance is AccountInfoBalance with ACCOUNT_BALANCE identifier, contract size is SymbolInfoDouble with SYMBOL_TRADE_CONTRACT_SIZE identifier, and dollar pip value is SymbolInfoDouble with SYMBOL_TRADE_TICK_VALUE.

3. It is possible to open 3 orders (read: to open 3 pending orders) in MT5 but once pendings is opened, it will be merged into one single position. So you won't have 3 open position, but only have one position.

4. I don't understand what you mean by 1/2 ATR. Perhaps you'd like to explain more.

[lin chen]

phi.nuts:

1。没有止损，是一个很大的风险？  从我读 ，龟资金管理有一个巨大的提取，并且它为什么不使用止损在所有-或者，我读错了的文章吗？

2。在MQL5，账户余额是AccountInfoBalance与account_balance数据标识符，合约规模是SymbolInfoDouble与SYMBOL_TRADE_CONTRACT_SIZE标识符，美元点值的是SymbolInfoDouble与SYMBOL_TRADE_TICK_VALUE。

3。这是可以打开3​​个数量级（阅读：打开待处理的订单），但在MT5一次pendings被打开后，将被合并成一个单一的位置。所以，你不会有3个开放式的位置，但只有一个位置。

4。我不明白你是什么意思1/2 ATR。也许你想解释。

that's right

[Henry Latourrette]

fanfan888:
that's right

phi.nuts:

1. No stop loss, isn't that a lot of risk ? From what I read here, turtle money management have a huge drawdown, and that why it uses no Stop loss at all - or perhaps, ... I read the wrong article ?

2. In mql5, account balance is AccountInfoBalance with ACCOUNT_BALANCE identifier, contract size is SymbolInfoDouble with SYMBOL_TRADE_CONTRACT_SIZE identifier, and dollar pip value is SymbolInfoDouble with SYMBOL_TRADE_TICK_VALUE.

3. It is possible to open 3 orders (read: to open 3 pending orders) in MT5 but once pendings is opened, it will be merged into one single position. So you won't have 3 open position, but only have one position.

4. I don't understand what you mean by 1/2 ATR. Perhaps you'd like to explain more.

Thank you guys. I've just read your replies. I've now the EA coded already and tried with different TP and SL as well as with no SL and/or TP, by 1/2 ATR I meant that each order has to be opened each 0.5*ATR behind or above the last one. Anyway, with the coded EA I was able to test the method with 1*ATR, 2*ATR and with different counts for pending orders. In the end, the strategy was kind of good for some symbols but not as good as I expected.