I need a simple hedging robot or help to build one
luciferyahweh:
I need a simple robot that simultaneously opens a buy and sell position, with a stop loss of 1 pip, and a take profit of X number of pips. It should open multiple hedging positions on the same chart, with various expanded take-profit margins, but always a stop-loss of 1 pip, to eliminate all basic risk. Obviously it would repoen a hedge position of the same take-profit when both the buy and sell orders are closed. And it should have a trailing-stop as well, for good measure. I think this is the most profitable strategy, considering we don't know which way the market will go next. It is guaranteed to always lose one trade for each profitable trade. It could lose both trades repeatedly in a flat market if it wavers within 1-2 pips, and hits both stop-losses again and again, but it is useful when the market is going in one direction or another.
Do any of you have an EA like this, or can you build one? Or teach me how to build one?? The concept is VERY simple. I have no experience in MQL4 programming, but I am willing to learn.
I need a simple robot that simultaneously opens a buy and sell position, with a stop loss of 1 pip, and a take profit of X number of pips. It should open multiple hedging positions on the same chart, with various expanded take-profit margins, but always a stop-loss of 1 pip, to eliminate all basic risk. Obviously it would repoen a hedge position of the same take-profit when both the buy and sell orders are closed. And it should have a trailing-stop as well, for good measure. I think this is the most profitable strategy, considering we don't know which way the market will go next. It is guaranteed to always lose one trade for each profitable trade. It could lose both trades repeatedly in a flat market if it wavers within 1-2 pips, and hits both stop-losses again and again, but it is useful when the market is going in one direction or another.
Do any of you have an EA like this, or can you build one? Or teach me how to build one?? The concept is VERY simple. I have no experience in MQL4 programming, but I am willing to learn.
Start with the Book you can also take a look at the EAs in the Code Base, you might find something similar to what you are looking to create.
You also need to study this, some Brokers will not allow you to place a stop as close as 1 pip: Requirements and Limitations in Making Trades
My broker is TradersWay. They are located in Dominica. They allow hedging, and 1 pip stop losses. I will take a look at Book, and Code Base. I've looked and looked, and I can't find one like this, for free. Even the commercial ones don't seem to do what I have in mind.
I can't find what I'm looking for on Code Base either.
It's such a simple idea: Constantly hedge one currency pair, opening 3 simultaneous buy/sell orders, for a total of 6 orders, with a stop-loss of 1 pip, and a take-profit of varying degrees. I would go with the fibonacci numbers 5, 8, and 13 as good take-profit margins for this hedging system. I think a trailing-stop of 5 pips would work as well. As soon as you drag it onto a chart, this EA should immediately open 6 orders, 3 buy, and 3 sell, with different take-profits, and the same 1 pip stop loss. How much more simple can it get?
I am eager to find or build or find someone who can build such a system, so I can try it out.
It's such a simple idea: Constantly hedge one currency pair, opening 3 simultaneous buy/sell orders, for a total of 6 orders, with a stop-loss of 1 pip, and a take-profit of varying degrees. I would go with the fibonacci numbers 5, 8, and 13 as good take-profit margins for this hedging system. I think a trailing-stop of 5 pips would work as well. As soon as you drag it onto a chart, this EA should immediately open 6 orders, 3 buy, and 3 sell, with different take-profits, and the same 1 pip stop loss. How much more simple can it get?
I am eager to find or build or find someone who can build such a system, so I can try it out.
luciferyahweh:
I can't find what I'm looking for on Code Base either.
It's such a simple idea: Constantly hedge one currency pair, opening 3 simultaneous buy/sell orders, for a total of 6 orders, with a stop-loss of 1 pip, and a take-profit of varying degrees. I would go with the fibonacci numbers 5, 8, and 13 as good take-profit margins for this hedging system. I think a trailing-stop of 5 pips would work as well. As soon as you drag it onto a chart, this EA should immediately open 6 orders, 3 buy, and 3 sell, with different take-profits, and the same 1 pip stop loss. How much more simple can it get?
I am eager to find or build or find someone who can build such a system, so I can try it out.
You have read the Book already ? if you don't have time go here: Build my hedging EA for MT4 for me please
I can't find what I'm looking for on Code Base either.
It's such a simple idea: Constantly hedge one currency pair, opening 3 simultaneous buy/sell orders, for a total of 6 orders, with a stop-loss of 1 pip, and a take-profit of varying degrees. I would go with the fibonacci numbers 5, 8, and 13 as good take-profit margins for this hedging system. I think a trailing-stop of 5 pips would work as well. As soon as you drag it onto a chart, this EA should immediately open 6 orders, 3 buy, and 3 sell, with different take-profits, and the same 1 pip stop loss. How much more simple can it get?
I am eager to find or build or find someone who can build such a system, so I can try it out.
I looked at Book. I didn't find anything useful pertaining to how to make a something that hedges the way I described. There's a prominent article on Book about coding a hedging EA that isn't really hedging in the true sense. Not very helpful at all. It's hard to find information that is relevant. I have lots of time. I would rather work with somebody on this, and learn something along the way, than just pay someone to do it unlovingly. It's a labor of love. I am very patient, and eager to learn.
luciferyahweh:
I looked at Book. I didn't find anything useful pertaining to how to make a something that hedges the way I described. There's a prominent article on Book about coding a hedging EA that isn't really hedging in the true sense. Not very helpful at all. It's hard to find information that is relevant. I have lots of time. I would rather work with somebody on this, and learn something along the way, than just pay someone to do it unlovingly. It's a labor of love. I am very patient, and eager to learn.
Well you first need to learn how to code with mql4 before you can code a specific strategy, that is what the Book is for. Then you can take a few weeks/months to familiarise yourself with the mql4 functions.
I looked at Book. I didn't find anything useful pertaining to how to make a something that hedges the way I described. There's a prominent article on Book about coding a hedging EA that isn't really hedging in the true sense. Not very helpful at all. It's hard to find information that is relevant. I have lots of time. I would rather work with somebody on this, and learn something along the way, than just pay someone to do it unlovingly. It's a labor of love. I am very patient, and eager to learn.
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Do any of you have an EA like this, or can you build one? Or teach me how to build one?? The concept is VERY simple. I have no experience in MQL4 programming, but I am willing to learn.
christmeal@gmail.com