Jimdandy Trade Management Tool
This tool serves two purposes.
It enables you to place a live trade on a live chart.
It allows you to place trades in the strategy tester as it runs.
On a live chart you can place a trade by:
Clicking a Buy, Sell or Pending Lines button.
Scheduling a Buy, Sell, or Pending using the scheduler.
In the included screenshots you can see four panels labeled:
Order Lines (pendings).
Across the top we can:
Fix the scale.
Zoom the chart in/out.
Minimize or Close the Expert.
There are the normal parameters set to defaults that you would expect:
Stoploss = 40.
TakeProfit = 80.
1stTrade = 0.01.
TradingMode = BreakOut.
ShowTool Tips = True.
Automatically assign Magic Number = true.
However, there are many additional parameters shown in the screenshots that involve:
Lot sizes for additional trades.
Trade expiration by either time or number of trades placed.
The mode of selecting initial trade direction of scheduled trades.
Move to Breakeven, as well as, Trailing Stop settings.
Sound and notification settings.
Excessive spread protection settings.
Therefore, before using the tool you should visit the instruction page by clicking the copyright link as you load the EA on your chart as shown in the screenshot.
The idea behind this EA was to make a way for the trader to make the initial decision of when and which direction to enter. But, once in the trade, let an emotionless robot manage the trade. The trader decides in advance whether he wants the robot to stop/reverse when a trade goes wrong. He also decides what new lot size to use on each subsequent trade. Up to 15 trades in a sequence can be tolerated.
The trader can choose to take a profit, break even or perhaps take a small loss.
In the tester, the trader can 'practice' trading and try different settings on different pairs.
Why it works:
Once we enter the market and the market moves away from that price in either direction by the required amount, the EA will either take profit by going straight to our take profit or by getting stopped out and reversing and moving to the new take profit level in that direction.
The enemy of this style of trading is a whipsawing market. Trade only when the market is moving or about to make a move due to some news. This tool is like a hammer. It can build an account for you or it can destroy it. It is up to you. Use it wisely.
I wish you all the best in your trading.
Note: The free demo version will allow you to strategy test in the CADJPY, CADCHF, GBPCAD, GBPUSD, GBPJPY, EURGBP.
Changed the default mode to BreakOut.
Fixed inability to place trades on 00 minutes.
Made chart colors change faster when entering/exiting trades.
Also made the fonts auto adjust to the dpi of the screen it is running on.
1.Foremost is the improved interface giving more flexibility to the user.
2.I have added two more pairs that can be used in the demo version in the tester. EurGbp and GbpJpy.
3.I have added confirmation message boxes for when you buy, sell or close a trade. In this way any accidental click of a button will have to be confirmed.
4.I added a confirmation warning in case you decide to turn on ReEntry at a time that would trigger an immediate entry.
5.I have added a handy "scale fix" button to the interface so that with the click of the mouse you can enable/disable the ability to move the chart around as you study it.
I have been made aware that a full license is not given to those who only rent the tool instead of buying it. The code has been changed to give these "timed" licenses the same privileges as "full" licenses so that you can trade all Forex pairs when you rent the tool.
2. Цвет фона в одном из диалоговых окон иногда становился черным, что делало черный текст невидимым. Это тоже было исправлено.
1. I had to modify the program so that it could recognize these instruments to create the proper magic numbers.
2. The "Excessive Spread Protection" setting has been moved to the top of the settings so that it is easier to find. Also we now have the option to enable or disable it. By default it is disabled.
3. With the new CFD's, the ability to properly determine a pip was added for instruments with only 1 decimal place. On SPX500 a .01 lotsize will gain or lose a penny per pip of movement.
2. There is a setting to override manual entry and use indicator bias for entry direction. If this was set to something other than NO, it would even override the buy and sell buttons on the dashboard. You could hit the buy button but if the indicator was biased towards sell, it would enter a sell instead. This version fixes that issue.
3. I added XAUUSD and XAGUSD to the list of pairs, for which the EA will auto generate a magic number.
Subscribers who live in a timezone that is ahead of GMT need to upgrade to this version immediately!
Some traders who live in a location where their local time was several hours ahead of GMT such as Australia were not getting their scheduled trades to be placed at the intended time on their brokers servers. I have completely re-coded the trade scheduling portion of this EA to address this problem. Subscribers whose timezone is ahead of GMT need to upgrade to this version immediately!
1. We added two additional trading lines which enable placing buy stops and sell stops. We now can use buylimitline, buystopline, selllimitline, and sellstopline scripts to control our trades. This replaces the previous bulyine and sellline scripts.
2. I added an OCO setting (One Cancels Other) for use with the line trading orders.
3. Instructions on how to use the EA can be found by clicking the copyright link.
1. Added an instructional page link accessed by clicking the copyright link.
2. Added a new type of order expiry based on how many orders deep we have gotten in our trade sequence. This is a nice addition to the "timed" expiration.
3. I have added the option to decide whether you want to place a trade with the stop loss and take profit set at trade placement time or whether to do it in two stages. i.e. place the trade and then modify it to set the stop loss and take profit.
4. On the onscreen dashboard I have added a "Reverse" button. This will allow us to reverse the position of a losing trade without advancing our trade sequence number or lot size.
5. There some other issues fixed dealing with broker servers that are several hours ahead of GMT.
You can now choose to use a Moving average cross, Moving Average compared to current bid price, Stochastics or Macd indicators to choose the direction to enter the trade. This gives the user many more options to choose from when developing a trading strategy using the strategy tester.
Also I have added the ability to move the trade to breakeven and lock in some profit according to the users settings as well as providing the option for setting up a trailing stop to maximize profits.
This is a link to the video which explains and shows how to use all of the new features: https://youtu.be/O5G6h0ewOig
If you have not watched the first video, here is the link to it: https://youtu.be/_XNin3zH5tI