Loss Recovery Trader
This robot attempts to recover losing trades.
Place a trade and if it moves in the wrong direction, the Zone Recovery algorithm initiates.
An alternating series of Buy and Sell trades at two specific levels will be taking place, with two Exit Points above and beyond these levels.
Once either of the two exit points is reached, all trades are closed with a combined profit or approximate breakeven.
1. Initial trade placement method
- FistTradeMode option allows you to select the method the first trade opens
- External_Manual_Trade : Manually opened trade
- External_EA_Trade : Opened by an external EA
- Moving Average: A Moving Average strategy
- Bollinger Bands: A Bollinger Bands reversal strategy
- The other selections open one instant trade of specific type directly through the EA
2. Set recovery region
- RecoveryZoneRangePips: Pips to be lost in order for an opposite direction trade to opened
- RecoveryZoneExitPips: Pips to be won by the last trade for the recovery to complete
3. Lot calculation method
- Lot_Calculation_Mode option allows you to select the method the lot sizes get calculated
- Profit_In_Pips: Once recovery is over the Net Average Pips Won will be equal to this
- Profit_In_Amount: Once recovery is over the Net Amount Won will be equal to this
- Lot_Multiplier: Each trade will be a multiple of the previous trade
Depending on your selection you can modify the relevant option
4. Initial trade settings
These options will affect ONLY the initial trade. They do not apply once recovery has started.
- Lot: Lot size fixed amount
- Auto Lot: Start Lot is calculated as % from balance
- Lot_Percents: When Auto Lot is true
- Take Profit: Take Profit in Pips
Note: When using with External Trade/EA you don’t have to modify Lot Size. It is done automatic.
- Enable_Trailing_Stop: Enables Trailing Stop
- Trailing_Stop_Start_Level: Activation level in pips
- Trailing_Stop_Distance: Trailing stop step in pips
- Enable_Protect Profit: Ensures a fixed amount of pips is secured once activated
- Protect Profit Start_Level: Pips to be won for activation
- Protect Profit Exit_Level: Min pips to be secured and exit the trade
5. Recovery risk management
- Max_Orders: Max Orders that can be opened
- Close_Trades_When_Max_Orders_Exceeded: Closes all trades if max number of trades has been reached and the last opened trades sustains a loss equal to the Recovery Zone Range Pips
- Max_Loss_Amount: Closes all trades once the account’s total open losses reach this amount
- Max_Drawdown_Percent: Closes all trades once the account’s balance based drawdown reaches this percent
- Close_All_at_This_Profit: Closes all trades once the pair’s total open recovery profits reach this amount
- Kill All Now: Closes all trades and pendings
- Magic: Magic number used
6. Advanced settings
- AllowHedging: Can be set to False for Clients whose broker does not allow hedging. Losses get realised if false
- Slippage_Mode: If trades suffer slippage , it is added to the Recovery Zone Exit Pips
- Hide_the_Exit_Points: Recovery Trades will close with instant trades instead of TP/SL
- Trail_the_Exit_Point: The points where recovery trades close will be trailed to make more gains
- Exit_Point_Trail_Start: Additional Recovery pips to be won for the trail to activate
- Exit_Point_Trail_Step: Step pips for exiting the trail
- Fixed_Spread_Pips: Spread to be used
- Commission_per_Lot_Amount: Commission charged per Lot
Note: When left to zero, the current Commission and Spread will be used
- EnableGrid: Set to true to apply grid strategy before the recovery begins or use with EA that has opened multiple trades in the same direction
The PDF Manual has more details
-Option safety placing added instead of forced to true (experimental): It will force an instant trade in the event an order does not get triggered.
- Better control for grid trades.
Once the initial trade has been placed (manual/external EA trade), Loss Recovery Trader will read how many pips the Stop Loss of that trade was, remove the stop loss and save in its memory that number as the Recovery Zone Range. A stop trade will be placed at the opposite direction. (Not valid for Grid Mode or when Hedge Mode is 'false'). The Recovery Zone Exit Pips will be a multiple of the Recovery Zone Range Pips that you set.
How to use
Under Advanced Setting
use_zone_as_external_sl : Set to True if you want to use this feature.
recovery_zone_multiplier: How many times bigger than the Recovery Zone Range Pips the Recovery Zone Exit Pips will be.
- More easy to use options
- Ability to use with grid trades
- Max drawdown option
- Time filter options
- Close on Friday options
Slippage mode for no_hedge mode
Fixed some minor bugs
-Allows using pending orders from external manual trades or EAs.
-Issue with Protect Profit resolved.
-Kill All Now function for closing all open trades.
-Second Chance mode that puts more weight in the initial trade giving it more chance to avoid falling into recovery zone
-Ability to trail the exit points increasing the potential trades without increasing risk
-Ability to determine the profits after recovery as a fixed amount
- spread_close option for closing all trades once either reaches stop loss to avoid waiting the spread to cover opposite type spread to reach Take Profit.