EA or tool which monitors account DD and disables pre set other EA untill DD returns to set amount?

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Cliff notes: TLDR, how do you automatically switch off a griding EA stopping it from even starting a grid when the account is being smashed for margin by another EA, one MT4 terminal on one account. 

 

Hello,

Would  any appreciate any help, or any inputs.

Pretty standard Forex situation. 

You have an MT4 installation and have two or more EA's running.  

Historically you are aware that EA  A) and B) can at times have draw down approaching 50%... 
You would like to install a third EA which monitors the account equity and once the draw down hits a set amount, lets say 20%, you would like EA - B) switched off.

So in short you are aware that the majority of the time both EA's will operate nicely at 1 to 10% DD but they can be margin hungry and you would like to STOP an EA, and yes ideally fire it back up
once the DD passes and account is back to low DD.

 
bud 01:

Cliff notes: TLDR, how do you automatically switch off a griding EA stopping it from even starting a grid when the account is being smashed for margin by another EA, one MT4 terminal on one account. 

 

Hello,

Would  any appreciate any help, or any inputs.

Pretty standard Forex situation. 

You have an MT4 installation and have two or more EA's running.  

Historically you are aware that EA  A) and B) can at times have draw down approaching 50%... 
You would like to install a third EA which monitors the account equity and once the draw down hits a set amount, lets say 20%, you would like EA - B) switched off.

So in short you are aware that the majority of the time both EA's will operate nicely at 1 to 10% DD but they can be margin hungry and you would like to STOP an EA, and yes ideally fire it back up
once the DD passes and account is back to low DD.

the right way to do this is : A and B should be one expert, and monitor DD and consider it in its logic.


you can either :

  • combine EAs to a single (and better) EA.
  • make a script file to monitor DD and set a flag for EAs, so EAs know when to be active/sleeping (not removed from chart, just sleeping) using GlobalTerminalVariables or files...
  • add/remove EA to/from charts using another manager (script, external program, etc...) based on DD.
  • or most probably other fishy workarounds

so , basically you don't switch them off and fire them back up. but rather both EAs are listening to what another agent is flagging as Allowed/Denied.
 

To my mind i just want the "allow live trading" to switch on and off for an EA once draw down hits say 10 to 15%, then once dd comes back to %5 it puts "allow live trading", back on. 

I am running a grider which i want off once account DD hits a threshold, I understand a number of people are doing this already but manually. (running a number of EA or charts off an account and when one trips into a high dd, all other charts are switched off until the first basket closes)

This is like a level two tool, some one that has been trading for little while and feels comfortable enough to run two or more EAs on an account but knows the danger of running them all, all of the time.

For ref I have emailed author of equity sentry to see if he has any inputs into this, if this tool dosnt exist, it should do, it should be on the market place or available for purchase online, its a "no brainier" required tool.




 
Code2219 or probably 2319:
the right way to do this is : A and B should be one expert, and monitor DD and consider it in its logic.


you can either :

  • combine EAs to a single (and better) EA.
  • make a script file to monitor DD and set a flag for EAs, so EAs know when to be active/sleeping (not removed from chart, just sleeping) using GlobalTerminalVariables or files...
  • add/remove EA to/from charts using another manager (script, external program, etc...) based on DD.
  • or most probably other fishy workarounds

so , basically you don't switch them off and fire them back up. but rather both EAs are listening to what another agent is flagging as Allowed/Denied.

Are you saying it is not technically possible to change the status of "allow live trading" in a chart, that it is protected or secure?

 
bud 01:

Are you saying it is not technically possible to change the status of "allow live trading" in a chart, that it is protected or secure?

that setting is per terminal not per chart. so once you disable auto trade , it's for all charts. so you need to change some codes as mentioned earlier. (or just add/remove EAs programmatically.)
 

So charts dont have an ID?, or an EA has an ID and via DLL it is not possible to stop and start a chart or EA on a chart?

This just seems like such an obvious or required feature function or desirable aspect of mt4 usage..

If EA 1 uses up 50% of my margin... switch off EA 2 (which is another heavy margin user) until such time has EA 1 closes all trades.. equity returns back to 90, 95% (5 to 10% dd).


To me this is one of the most basic first steps a automated trader would want to do, i can guess one could step up a complex copy situation with logic involved between two or more mt4 installations.

I have installed RDP on my iphone, the magnify helps greatly to pan and access config of the required chart.


Is this option available via mt5?

 
bud 01:

So charts dont have an ID?, or an EA has an ID and via DLL it is not possible to stop and start a chart or EA on a chart?

This just seems like such an obvious or required feature function or desirable aspect of mt4 usage..

If EA 1 uses up 50% of my margin... switch off EA 2 (which is another heavy margin user) until such time has EA 1 closes all trades.. equity returns back to 90, 95% (5 to 10% dd).


To me this is one of the most basic first steps a automated trader would want to do, i can guess one could step up a complex copy situation with logic involved between two or more mt4 installations.

I have installed RDP on my iphone, the magnify helps greatly to pan and access config of the required chart.


Is this option available via mt5?

Ask the developer to work off Free Margin rather than Balance? It's not a massive leap in code to do this. Sometimes they listen...

 
bud 01:

So charts dont have an ID?, or an EA has an ID and via DLL it is not possible to stop and start a chart or EA on a chart?

This just seems like such an obvious or required feature function or desirable aspect of mt4 usage..

If EA 1 uses up 50% of my margin... switch off EA 2 (which is another heavy margin user) until such time has EA 1 closes all trades.. equity returns back to 90, 95% (5 to 10% dd).


To me this is one of the most basic first steps a automated trader would want to do, i can guess one could step up a complex copy situation with logic involved between two or more mt4 installations.

I have installed RDP on my iphone, the magnify helps greatly to pan and access config of the required chart.


Is this option available via mt5?

@Code2219 or probably 2319 is wrong. It's possible to do it by charts (EA), for MT4 and MT5.
 
bud 01:

Are you saying it is not technically possible to change the status of "allow live trading" in a chart, that it is protected or secure?

Code2219 or probably 2319:
that setting is per terminal not per chart. so once you disable auto trade , it's for all charts. so you need to change some codes as mentioned earlier. (or just add/remove EAs programmatically.)
I thought the setting he's asking about is this :
 
Code2219 or probably 2319:
I thought the setting he's asking about is this :

He doesn't want to disable all EAs but only one. It's doable manually in each EA properties "Allow live trading" (Common tab). And it's also doable by code with template.

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