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Revenge Trading Protector

45 USD

Demo downloaded: 8

Published: 18 March 2022

Current version: 1.1

Revenge Trading Protector

Utilities
Konstantinos Kalaitzidis
Version: 1.1
Updated: 19 March 2022
Activations: 20

Revenge Trading Protector is a simple but effective tool for traders who can fall victim to revenge trading. Being a day-trader myself, I understand the psychological aspect of revenge trading and the desire to cover the losses.
So, I developed this tool (that I use myself too) to be 100% sure I’m able to remain patient after a loss and not make irrational trading decisions.

When you take a loss, the Revenge Trading Protector EA prevents you from opening another order (either limit order, stop order or market execution order) until the desired time break has elapsed.
For example, if you take a loss at 10:45am and you have set a 30-minute time break, any order you set before 11:15am will be instantly canceled by the EA. Once you’re allowed again you’ll be notified with an alert.
Any attempt of entering a trade before the 30 minutes have elapsed, you’ll be notified respectively.

Additional feature: The Maximum Equity Drawdown is meant to prevent any type of entry order for the rest of the day (calendar day) when you exceed the desired maximum equity drawdown.
For example, let’s assume you’ve set the maximum drawdown at 2% and you’re already -1.75% for the day, if you take another trade and the floating loss exceeds 0.25% (so it goes at -2%),
the EA will automatically close the trade and prohibit trading for the rest of the day

The user inserts the value of the 3 parameters:

Max DD: It’s the desired maximum drawdown in %. By typing “2”, it translates to 2% maximum desired drawdown for each day.
MinutesBlock: It’s the desired number of minutes that will need to elapse in order to enable trading again. (based on the first example, here you would type “30”)
HoursBlock: It’s the desired number of hours that will need to elapse in order to enable trading again.

Important Notes:

You must set the value of the desired time block ONLY on ONE PARAMETER. Either “MinutesBlock” or “HoursBlock”. The other parameter must be remained at 0. You can’t insert “30” on MinutesBlock and “1” on HoursBlock if you want a 1.5-hour break.
If you don’t want to use the Daily Drawdown Protector feature, just leave the “Max DD” parameter’s value at 0. It’ll not be used.
If a loss is registered and trading becomes prohibited for the desired time period, please note that any other pending order/running trade will be automatically closed! Any pending orders will need to be set again when trading becomes enabled again.
If you wish this to be different, please contact me.
Make sure to enable Auto-Trading from the MT4, otherwise it’ll not run properly. (the EA isn’t permitted to open new orders, only to cancel/close orders/trades)
The EA doesn’t consider the seconds in the time break. For example, if a loss is taken at 10:45:26, and the time break is set at 3 minutes, the trading will be allowed again at 10:48:00.
It is advised that you first test in on a demo to see how it works.
You only need to activate the EA on one chart, and it'll work across all pairs you trade. Any loss/drawdown is measured globally and not for each pair. (for example, taking a loss on EUR/USD will disable trading for X amount of time you've set)

If you need any more specialized/tailored features on the EA, feel free to contact me so we can arrange it. Or if you have any question/issue, feel free to contact me.

tags: balance drawdown, max loss limit, time break, trade pause, daily drawdown, trade freeze

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reakown 2024.01.27 15:21 #

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Drawdown protector is used to manage your desired Max Daily Drawdown. It's a highly valuable tool for traders, especially for prop firm traders, you need to be careful of the drawdown limits. It's an effective EA that is simple to use for Equity Drawdown Management purposes. It works by blocking new trades - and closing existing trades, when the floating Equity (not Balance) exceeds the Daily Loss limit you've set. Also, you can set a Maximum Loss Limit for a SINGLE trade, which if exceeded, it

50 USD

Revenge Trading Protector is a simple but effective tool for traders who can fall victim to revenge trading. Being a day-trader myself, I understand the psychological aspect of revenge trading and the desire to cover the losses. So, I developed this tool (that I use myself too) to be 100% sure I’m able to remain patient after a loss and not make irrational trading decisions. When you take a loss, the Revenge Trading Protector EA prevents you from opening another order (either limit order, s

45 USD

News Filter Protector is designed to protect your from having open positions/orders on news announcements. In today's world where news can cause unpredictable volatility and extended losses, such a tool is very helpful for your peace of mind since you don't need to check the calendar ever again! Let's go through the Inputs of the EA to get an understanding of how each parameter works: --------------------------------News Settings-------------------------------- Currencies of the News to Filter

45 USD

Anti Grid Position Protector is a utility tool designed to protect you from the temptation of adding to a losing position in a hope of a drawdown recovery, or trying to hedge when you're not intended too. --------------------------Inputs--------------------------- Allow Hedging on Losing Positions? - It's a true/false input (double click to switch its value) which allows/disallows opening a trade (either pending order or market execution) in the opposite direction on an existing losing position

40 USD

The "Candlestick Patterns Trade Panel" is the ultimate tool for traders who trade with Candlestick Patterns and want the process of identifying a pattern and executing a trade, to be quick and effortless . With various but key input options, this tool suits to people who want to automate their candlestick patterns manual trading, or assist them to take trades manually but faster than before, or simply inform them with the patterns they want to see. Let's go through the Trade Panel that appears

50 USD

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reakown 2024.01.27 15:21 #

696

Reply from developer Konstantinos Kalaitzidis 2024.01.27 17:15 #

I appreciate your words mate! I'm glad to hear that this tool helped your trading, and will always be available for any problem or suggestion! Take care

Version 1.1 2022.03.19

Updated messages on alerts and optimized the code to be more efficient