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Hi,
I have an EA (which uses some custom indicator) to simply buy and sell based on the custom indicator (I don't have a code of this EA now). So I want another EA to work simultaneously with this EA (which means the new EA should open and close the trades along with my own EA on any symbol that my original EA works) and whenever my own EA close a loss order the new EA do the following:
Suppose my own EA opens a Buy trade (e.g. 0.01 lot). After some times the trade is closed (based on the opposite signal from the EA). If the closed trade was a win trade everything is ok. If the closed trade was loss your EA should open now another trade along the trade from my EA (which means now two sell trades are open: one originally from my own EA – from here after I call it original trade (0.01 lot) and another one from your EA to recover the loss (with the same size which is 0.01) from here after I call it recovery trade.) Suppose the original buy trade let's call it Trade No. 1 was a loss for 1 dollar (including commission and spread). Now we should have two sell trades: Trade No. 2 Original trade from my EA and Trade No. 3 – Recovery trade from your EA. Let's say now the price is in our favor and both trades are now in profit. The original trade will remain open until the opposite signal triggers from my own EA (which simply means the new EA should not interfere with trades from my EA). The recovery trade from your EA should close as soon as it reaches the previous trade loss which in our case was 1 dollar. If the original trade from my EA is closed based on the opposite signal, the recovery Trade from your EA should also be closed simultaneously (whether it has reached its profit or not) and open another trade (or trades) based on trade from my EA.
Here is the example. Trade No. 1 was a buy trade which was loss for 1 Dollar. Trade no. 2 (from my EA) and no. 3 (recovery trade from your EA) are sell trades and now both of them are in profit of 0.5 dollar and the opposite signal is trigger from my EA. So both trades should close. So now in our trade history we have 1 loss trade and 2 win trades but the recovery trade did not cover the loss of 1 dollar. So when trade No. 4 (buy) opens from my EA another trade No.5 should open as the recovery to recover the loss of 1 dollar for trade No.1 (which hasn't been covered yet by any of the recovery trades).
Now suppose both trade no.4 and trade no. 5 are in negative of 2 dollar and the opposite signal triggers. So we have now in trade history 3 losses. (No. 1 for 1 dollar loss, No. 4 and No. 5 for 2 dollar loss). Now the EA should open 3 recovery losses from your EA along one original trade from my EA (totally 4 trades are open now) (remember all for the same size which is 0.01). So now we have trade numbers 6 (original trade), 7, 8 and 9 (recovery trades). Now suppose the price is going in our favor and now all the trades are in 1 dollar profit. Oneof the recovery trades say trade no. 7 should close now (this is to cover the loss for Trade No. 1) the other two should remain open. Now suppose the price is still in our favor and now the remaining three trades (one original – trade No. 6 - and the other remaining 2 recovery trades- remember one of the recovery trades has closed in 1 dollar profit) are in 2 dollar profit. So the other 2 recovery trades (trades no. 8 and no. 9) should now close each for 2 dollar profit (to cover the loss of trade No. 3 and No. 4). The original trade (trade No. 6) will remain open until the opposite signal triggers from my EA.
I hope you get what I mean. In nutshell the recovery trades are trying to compensate for any lossed in the closed trades. I understand this will increase the risk of the account and if we have 3 consecutive losses the number of trades to open is now 8 trades (all with the same size of 0.01 like this example:
Trade No. 1: buy trade - if close in loss go to next line
Trade No. 2 and 3 (2 trades): sell trades - if close in losses go to the next line
Trade No. 4, 5, 6, 7 (4 trades): buy trades - if close in losses go the next line
Trade No. 8, 9, 10, …, 14, 15 (8 trades): Sell trades .. and so on and so forth.
(The red numbers show the original trades based on the signal and the blue numbers are the recovery trades). Remember that it is possible that in some times some of the recovery trades close based on the loss in our history, say we have 0.5, 1, 2, 3.5 usd loss in our transaction history. So as soon as our recovery trades hit one of these levels it should close. I mean suppose we have 4 recovery trades open and price goes in our favor so one should close at 0.5, one at 1, one at 2, and one at 3.5. now say the price for example does not reach 3.5 usd in our favor (because the opposite signal triggers from my EA). So in the next trade we only need one trade to recover that 3.5 usd loss.
In any case if one of the original trades (and their companion recovery trades) goes into profit, the recovery trades should close one by one based on the records of our previous losses and the original trade (or any companion recovery trades if has not been already closed) should close based on the opposite signal. And this process goes on.
Hope you can put a comment on the chart for this details:
Account Balance:
Previous loss trades which has not covered yet: 0.5, 1, 2, etc.
Number of recovery trades to open along with the next trade from my EA:
I hope I am clear about what I want. Thanks for your hard work.
Regards,
Ali