Jimdandy Trade Management Tool
This tool is an Expert Advisor that I developed which involves placing a trade in the market in many different ways... Manually with the push of the buy or sell button, schedule a trade at a certain time, place lines on the chart where you would like to enter like a pending order.
We place a trade and wait for the move to occur. If we enter the market in the wrong direction we can choose to have the tool stop and reverse. As the market continues to move in that same direction our newly placed trade makes enough profit to compensate for the previous losing trade by a pre-determined amount and we close with a net profit.
There are buttons for buying, selling and closing trades manually and a button that prevents the EA from re-entering. You can place lines on the chart that represent pending orders.
You can also set an expiration time or order number where you are willing to get out with a certain amount of profit or loss. Of course, there are the normal parameters you would expect... lot sizes, stop loss and take profit amounts.
This expert has had a massive update which features an easier interface and now allows you to trade it in the Strategy Tester!
This is not a "set it and forget it" EA. There are some strategic decisions that must be made on the part of the user. However, the concept is a simple one. Once we enter the market at a certain price, if and when the market moves away from that price EITHER DIRECTION by a substantial amount the EA will take profit. Either by going straight to our take profit level or by getting stopped out and reversed and moving on to the new take profit level in that direction.
I also have incorporated the ability to set a sound to let you know when your current trade becomes positive or when the entire trade sequence becomes positive.
It will sound an alert and send you a notification to your phone to let you know that it has not been able to enter the trade.
I have included the option to have the EA take a trade in the tester at the same hour every day so that I could test the effectiveness of trying to enter the market at the same time each day.
Please be careful... 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 the best in your trading.
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