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Hello Haidar, I've just realized something with the EA that could be way better. The number of trades counter isnt really useful and its problematic as it is now, in the sense that, every take profit or partials in considered a trade by the EA (which is technically correct), but it brings many complications and doesnt really limit "overtrading" as it expects, If I take more partials on a position I can reach the limit and has to restart everything, change the EA settings etc, really problematic. It would be WAY more useful if it doesnt let you open more than "x" amount of new positions, regardless how many take profits you have in the open ones (it should consider imo only new open positions if the idea is to limit overtrading).

Another two useful things would be to automatically close any new trade as soon as its open after the DD o máx number is reached (it needs to first restart the terminal) and to limit the amount of position size in order to control overrisking (i.e. every trade with more size than "balance * xx%" closes automatically).

Thanks !

Hello,

Thanks for your comment, I appreciated the feedback.

I will be looking for the overtrade topic. However, I will be very limited in the MT4 version to technically realize the structure of an order, and the way MT4 considers partial take profit is limited. Your idea can be applied to MT5 as, technically, MT5 does differentiate between DEAL, ORDER, and POSITION. I will get back to you on this topic asap.

For the second point, reach me out on via the messages section to understand a little bit more the need. 

Thanks

Hi,

After some analysis, please find below additional inputs from our end.

We will be releasing a new version considering the partial take profit. In the MQL5 version, this functionality will be 100% accurate. However, in MT4 and due to technical limitations, we only can try to match the uniqueness of open and closed positions using a combination of the open time, open price, symbol, magic number, and order type. Also, considering that MT4 does not provide in milliseconds the time of opening position, you can end up opening 2 similar positions in the same second, and they will be considered as one. 

Concerning " it doesn't let you open more than "x" amount of new positions ", the EA reads the data from the trading servers, so it cannot work in preventive mode. It can check if your limit is reached and then take action. In the next version, we will release the possibilities to limit the number of open positions and total positions separately.

As for your last comment, the EA should close all the positions and delete new orders when DD reached without the need to close and reopen the terminal. You need to pay attention that there is a frequency of scanning configurable in the inputs. The default is 5 seconds, so the EA will be doing its check every 5 seconds. If you wish to have it faster you need to reduce this frequency. However, in the next version, we will also add an option to act onTick base for closing trades after DD is reached. 

I will send you a notification as soon as the new version is published on MQL5. 

Thanks for the comments again. 

Hi Lionel,

you made an awesome work with the new updates ! this EA is such a gem ! I would absolutely recommend it !

I am glad you are happy with it :) 

Hi Haidar, 

I'm not sure if it's just me having this problem, but I'm finding the below:

There is a mismatch between the defined Daily DD limit and the reported "Current DrawDown Percent" as well as the DDD% traffic light. The monetary value of "DrawDown maximum ammount" is correct however.

It seems it's out by a factor of 10.

Is it just me that's having this problem, or are you aware of this?

Hello Wes, 

Thanks for your comment. 

I just wanted to let you know that your question is legitime. The way to read the % needs to be better explained, and I will add it to the user guide with examples.

I'll go ahead and explain it to you with the examples you have shared. Let us take the first picture as an example:
Starting Balance is 11197.78,  Max Daily DrawDown is 1%, Max Daily DrawDown amount is 111.98 - till here, I think we agree.
Your current P/L is -76.93. The calculation afterward is done as follows: (-76.93/-111.98) * 100 = 69%
The 69 is shown in the traffic light and the percentage. 

So the idea in the shown number is how much you have consumed from your current acceptable drawdown.

If we take now picture 2:
Starting Balance is 11088.80,  Max Daily DrawDown is 5%, Max Daily DrawDown amount is 554.44
Your current P/L is -108.98. The calculation afterward is done as follows: (-108.98/-554.44) * 100 = 19% 

Hope I answered your question, and don't hesitate if you need any other clarifications or suggestions, I am more than happy to help. 

Haidar

Oh gosh no, now that makes sense! Sorry I just misunderstood.

Thank you so much for the speedy response and clear explanation.

Also, thanks for a great EA :)

Thanks for your reply, and no need to be sorry, I am happy to have you in my client circle :) 

Hi Hadar,

I just bought the EA .

However, whilst testing it out I chnaged a setting regarding (What action to take if DD was breached) it was set to turn off terminal. The problem is DD has not been breached and it turned off the terminal anyway. When I try to start my terminal

it turns off again. I need to login asap, is there a safe mode to do so. Please send me the instruction I can't wait 24 hours or the next day as described in the guide. That kind of action is not what I am looking for as I can't login, I just want to close all open and pending orders.

Many thanks in advance.

Does this work with other EAs?

Im currently using trade assistant, but when I try to add both to my chart they dont work together

Is there something im doing wrong?

Hey Luke, 

Thanks for your purchase and comment. 

The drawdown limiter is an EA, as I think the trade assistant you are using is also an EA.

Unfortunately, MetaTrader allows you only to launch a single EA on each chart. Therefore having both DD limiter and your trade manager is not possible. 

I would advise to run on separate charts. Check an example of how I use in my MetaTrader: https://www.youtube.com/watch?v=pnwDaQxWbBA&t=132s

Anything you need just drop me a message I am here to help. 

thanks for the reply, I tried using them on seperate charts but when I entered the trade it closed my position out instantly so don't think they work together

does mt5 allow you to use more than 1 EA, if so i can move over?

It is showing link in Purchase Tab of Mql5,   

But  cant  download,  and by clicking  its  get back on this  page.

Thats why.. i written,  product not received ...

And still not received ....