Drawdown reduction addition to Existing MT5 EA (Source code can be supplied)

Specification

Hello and let me introduce myself,

My name is Phil and I require a developer to update some existing MT5 source code, for an addition that I would like to integrate into my own EA called Baldies-Timtec (Don't laugh! J )

I'm wanting to add a Drawdown reduction mode to the EA.

I've written a full functional design spec sheet for this alteration, which I shall attach here.

What I'd like to know is if you could do the upgrade? (Quote me for the upgrade to go ahead)

If you can't do the upgrade, do you know someone trustworthy who could do the upgrade and forward me to this developer.

I have the source code for the EA, so if you think you can/or someone can do it, I can send it over.

The last part is obviously I don't want this EA getting in the wrong hands, so I'm putting a lot of trust in asking someone else to modify the EA. So I'd hope that you wouldn't rebrand it and sell it as your own.

I’ve been let down by the EA’s original developer who has gone M.I.A, so I can’t get this update completed.

If you do a good job on this update, I’ll almost certainly have more work for you. As I continue to test the EA and think of other updates that will aid me to make it as profitable and account management safe as possible.

Thanks for reading, this and I look forward to your response.

Your assistance in any way would be gratefully appreciated.

Cheers

PHIL.


Proposal for new “Reduce Drawdown mode” on Baldies/Timtec.

 

 

 

Brief explanation as to why we would like this modification:

 

The group and I have been testing a method of reducing drawdown on trades that have slightly got away from us.

This isn't a frequent occurrence, BUT when you get a sudden, sharp move that will open a lot of grid positions, that will almost certainly EP if not corrected, then this is a great method to assist in saving your account.

 

We are currently using a method manually, that we would like to automate into the EA, so that this process operates without our intervention.

What we do is: When you get 5x positions deep in your usual operating lot size, we then go in the Expert properties and change the lot size to the lowest figure that we can. So every other position that opens in DD will be at this reduced lot size until cleared. Obviously the reduced lot size will max out at your “Max averaging buy/sell positions” within the EA.

 

You may say that this causes havoc with the TP, but it doesn't. It doesn't adjust your TP any less or more, because we calculate our TP in pips NOT money, so it doesn't effect the calc at all.

This helps reduce your DD dramatically and we've noticed areas that would potentially have killed our accounts, get out of it really well, in a pretty short period of time.

 

What we'd need this option to do is. Once the basket of trades have closed, then it should return to normal trading mode, with your normal operating lot size (In Main settings) generated for normal trading ops.

So in essence if this mode is triggered, once basket is closed, return to normal trading.

 

 

Basic operational description of proposed “Reduce Drawdown mode”:

 

EXAMPLE:

 

Trade has gone in wrong direction and generated subsequent DD positions. From position 5, the lots have been reduced from 1.0 lots in positions 1 - 4, to 0.1 lots for positions 5 - 7+

 

We could make the Expert Properties box as shown below, where we would have a TRUE/FALSE box to initiate the DD Reduction mode.

Then we could have a user definable box, where the value would indicate at what position of trades would this DD mode kick in. In this example shown, it would be 5 positions.

 

Finally we could have a box with a user definable number for the reduced lot size we require for subsequent positions. In this example shown, it would be 0.1 lots.

 

So as mentioned previously, once this basket has closed ALL positions, then it will require to return to normal trading mode, with normal operational lot sizes utilised for position 1 in the next trading basket.

 

 

** Please see diagrams below, on next page for assistance **

 

 

 

 

 

 

 

 

 

 

Example of how trades would look if “Reduce Drawdown mode” was operated:

 

 

 

 

New proposed addition “Reduce Drawdown mode” function block, to Baldies/Timtec Expert properties:

 


 

 

 

Diagram to show original Operational Lot-size within Baldies/Timtec Expert properties:

 


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