Hi Kyra,

Can you please add the input 'TP Total' for EA 'LR2' with 'account currency' and '% of balance' in the same way as you have done for the EA 'LR3'? 

WBR,

ASAS

ok, will consider on next updates.

Do you have any schedule for the next updates?

It should not take long for this update, since the code is already done, I guess.

Thanks.

Could you please explain how this TP(points) feature work?

I set the TP=10 points, but even if my position turned into profit (refer screenshots below), the LR2 didn't close the orders.

It doesn't matter how long I wait and what profit I get, the LR2 never closes the orders (finally, I needed to close them manually).

This input TP(points) is quite hard to use and to understand, so I would like to have the option to close TP by account currency. 

Will close when Average TP of Total orders on basket is larger than your input.

This is recovery EA! You have some orders with negative profit on basket. Checking only one order is wrong.

 Sorry, but what is this 'Average TP of Total' orders?

In my case above, I have Avr = (215 - 345 + 230 - 340) / 4 = -60pts.

However, I have already a total profit of $276, and so the original order is already recovered with profit and I want

the EA to close the orders.

With this 'Average' calculation, it is very hard to foresee what could be my profit at the end,

so I think the option to add 'account currency' or '% of balance' in the TP mode is straight forward and much easier to understand.

Can you please do this update, as soon as possible?

Your calculated average is wrong. You must calculate Weighted Average. It may be a bit hard to calculate. I write below an equivalent method for verifying :

You have a sum of (24+12+6+3)=45 lots open orders. When total net profit of these 4 orders (by considering swaps and commissions) becomes larger than profit of equivalent one order with lot size=45 (and TP=10 points based on your input), All orders on the basket will be closed.

In other words, You must reach 10 points NET profit from the sum of volumes of all open orders.

Thank you.

However, could you please finish your calculation for my example above?

Equivalent one order with 45 lot = ???

What is the role of TP=10 points here?

10 points NET profit?

In my understanding, the net profit of 4 orders is already $276, so the EA should recover and close the orders. 

You should show an example of this calculation in the EA web page, otherwise nobody will understand it.

As I said, this 'weighted average' calculation is too complicated to think about it ALL the time, and it is much easier to think about the profit in 'account currency'.

We can set that directly and without making any calculation.

Can you consider doing this update soon?

how to calculate weighted average

Well, if the account currency is a good approach or not, depends on the user.

For me, it works just perfectly, because I am interested to have fixed profit every time and I can manage easier when I need to stop trading or not, once my target is reached.

Again, it is the same way you have done for the 'Loss Recovery 3' EA, this code is already done and you just need to load it into LR2.

It is easy for you and will help us a lot.

Thank you for consideration.

I hope you can do this update soon.

Hi Kyra,

Is that possible to update this LR2 EA with 'News' filter, in the same way as you have done for LR3 EA?

Thanks in advance.

ASAS

Hi,

It is not recommended to use the news filter on LR2.

Large movements on news can help LR2 to recover faster. But they can increase risk on LR3. Based on this reason, I  did not add News Filter to LR2.

Ok, thank you for explanation.

Hi Kyra,

Regarding the LR2 EA,

I set 200points for 'Distance to start' (No extend), but the 2nd. recovery order was placed with 230points distance (spread was 5 points), maybe because of the delay

from LR2 to react to fast market.

Can you update the LR2 and add the option to place recovery orders as 'Pending orders' (after 1st recovery is placed, open 2nd. recovery as pending order, and so on),

in order to avoid this kind of deviation? 

WBR,

ASAS

Yes, thank you for your consideration on this update.

Of course, 'pending order' would be an optional function.

Hi Kyra,

I realized that it should be very useful if you include in your update list of LR2 EA the following function:

1. Instead of adding multiples recovery orders (1st, 2nd, ..., etc) together with different volumes, it could close the previous recovery orders with loss

and open only one new recovery order at the same time, which will be responsible to recovery all previous loss at the end.

For example: Open 1st. rec. order (buy, 1lot)  >> Close 1st. order with loss >> Open 2nd. rec. order (sell, 2lots) >> Close 2nd. rec. order with loss >>  Open 3rd. rec. order (buy, 4lots) ... etc.

At the end, it has only one last rec. order, which will recover all the previous loss.

2. By doing that, we have some advantages: the recovery will be faster and the margin level won't decrease heavily.

Thank you for your consideration.

WBR,

ASAS

Thanks for your suggestion.

I am working more than 10 years on recovery methods. Your explained strategy is not effective. I already tested this method.