Account Protector

[qzn25]

Yes, those two.

I don't fully understand how I should configure them, since they are basically opposites, why do I need both?

I tell you what I need better, easier:
-I want that, if I lose 3% in one day, I close all positions and cannot trade anymore until the next day.

Thank you in advance for your time

 

[Enivid]

I don't fully understand how I should configure them, since they are basically opposites, why do I need both?

I tell you what I need better, easier:
-I want that, if I lose 3% in one day, I close all positions and cannot trade anymore until the next day.

Thank you in advance for your time

If you only want to close all trades on reaching some daily loss (without a corresponding daily profit target), then Daily profit/loss <= % of balance is enough. You set -3 in the input field, tick the checkbox, and set up the actions that you need (that's Close all positions and Disable autotrading as I understand, right?). If you want the autotrading to be re-enabled at the beginning of the next day, you need to add a second AP instance (to a different chart) with the timer set to 00:00 with the Enable autotrading action.

If you want this to work cyclically every day without having to set up manually again each day, then you also need to set DoNotDisableConditions and DoNotDisableActions input parameters to true for the first AP instance and DoNotDisableTimer and DoNotDisableActions - for the second AP instance.

 

[qzn25]

I'm realizing that I don't know if this will help. If 3% daily is reached, I would like no more trades to be opened, in any way. That is, if I disable auto-trading the only thing it will do is prevent an EA from being able to execute trades, I understand, I would need no more trades of any kind to be opened, not just block the EA. It is understood?

If you only want to close all trades on reaching some daily loss (without a corresponding daily profit target), then Daily profit/loss <= % of balance is enough. You set -3 in the input field, tick the checkbox, and set up the actions that you need (that's Close all positions and Disable autotrading as I understand, right?). If you want the autotrading to be re-enabled at the beginning of the next day, you need to add a second AP instance (to a different chart) with the timer set to 00:00 with the Enable autotrading action.

If you want this to work cyclically every day without having to set up manually again each day, then you also need to set DoNotDisableConditions and DoNotDisableActions input parameters to true for the first AP instance and DoNotDisableTimer and DoNotDisableActions - for the second AP instance.

 

[Enivid]

I'm realizing that I don't know if this will help. If 3% daily is reached, I would like no more trades to be opened, in any way. That is, if I disable auto-trading the only thing it will do is prevent an EA from being able to execute trades, I understand, I would need no more trades of any kind to be opened, not just block the EA. It is understood?

The only way I can think of is to use the Close platform action. In theory, it will close the platform whenever you will try to open it as long as the current daily loss is 3% or worse. Not sure if it's a good idea.

 

[smartvin]

Hi
Some one help me the different between Equity-snapshot & Snapshot -Equity highlighted below.

I need close all the trades when reach certain Equity value($100 profit). Once close all the trade the EA take automatically new snapshot of the equity do it same thing again.

 

[Enivid]

Hi
Some one help me the different between Equity-snapshot & Snapshot -Equity highlighted below.

I need close all the trades when reach certain Equity value($100 profit). Once close all the trade the EA take automatically new snapshot of the equity do it same thing again.
View attachment 28714

The difference between those two conditions is obvious. In the first one, the Equity is the minuend and its snapshot is the subtrahend. In the second one, it's vice versa: the snapshot is the minuend while the Equity is the subtrahend.

In your case, you can use the first condition, setting its value to 100.

If you want it to continue "doing the same thing again", you also need to set the AP via its input parameters not to disable conditions and actions on trigger.

 

[smartvin]

The difference between those two conditions is obvious. In the first one, the Equity is the minuend and its snapshot is the subtrahend. In the second one, it's vice versa: the snapshot is the minuend while the Equity is the subtrahend.

In your case, you can use the first condition, setting its value to 100.

If you want it to continue "doing the same thing again", you also need to set the AP via its input parameters not to disable conditions and actions on trigger.

Thanks for your quick reply. I will play around in demo account.

 

[smartvin]

The difference between those two conditions is obvious. In the first one, the Equity is the minuend and its snapshot is the subtrahend. In the second one, it's vice versa: the snapshot is the minuend while the Equity is the subtrahend.

In your case, you can use the first condition, setting its value to 100.

If you want it to continue "doing the same thing again", you also need to set the AP via its input parameters not to disable conditions and actions on trigger.

Hi Edvin,

These EA are really great and very helpful for improving my trading. Thanks a lot for providing them..for free!

 

[Almon]

Hi @Enivid, I’m just beginning to use Account Protector after being familiar with your awesome Scheduler EA.

I have one problem that needs resolving and I think the Account Protector with a little tweak can help me.

Account Protector has a feature that deletes all Pending Order based on Magic Number filter on a certain condition. I want Account Protector to delete a pending order of certain Magic Number that has an opposite direction of an active running trade.

For example I have a running Buy Trade of GBPUSD on Daily TF, then I can set the EA to delete any existing or upcoming Sell Pending Order in the same market and TF.

The Magic Number is needed because if there is another trade from different market or even the same market but different Time Frame, it would be treated differently. So when I have a running GBPUSD Buy Trade on Daily TF, the EA can allow GBPUSD Sell Pending Order on 15Min TF because the Magic Number is different.

Is this feature possible on Account Protector?

Thank you.

 

[Enivid]

Hi @Enivid, I’m just beginning to use Account Protector after being familiar with your awesome Scheduler EA.

I have one problem that needs resolving and I think the Account Protector with a little tweak can help me.

Account Protector has a feature that deletes all Pending Order based on Magic Number filter on a certain condition. I want Account Protector to delete a pending order of certain Magic Number that has an opposite direction of an active running trade.

For example I have a running Buy Trade of GBPUSD on Daily TF, then I can set the EA to delete any existing or upcoming Sell Pending Order in the same market and TF.

The Magic Number is needed because if there is another trade from different market or even the same market but different Time Frame, it would be treated differently. So when I have a running GBPUSD Buy Trade on Daily TF, the EA can allow GBPUSD Sell Pending Order on 15Min TF because the Magic Number is different.

Is this feature possible on Account Protector?

Thank you.

This depends on the actual situation with the trades. If you have some open positions and pending orders on the opposite side only, without pending orders on the same side as the positions, then that's fairly simple - you can just use the positions/orders number conditions and the close orders action. But if you have pending orders on both sides, this becomes tricky. I'm not sure it can be done in the current version of the AP.

EDIT: I mean pending orders on the same side as the position with the same magic number and the same currency pair, of course. Having pending orders on other pairs or with a different magic number wouldn't be an issue here.

 

[Almon]

This depends on the actual situation with the trades. If you have some open positions and pending orders on the opposite side only, without pending orders on the same side as the positions, then that's fairly simple - you can just use the positions/orders number conditions and the close orders action. But if you have pending orders on both sides, this becomes tricky. I'm not sure it can be done in the current version of the AP.

EDIT: I mean pending orders on the same side as the position with the same magic number and the same currency pair, of course. Having pending orders on other pairs or with a different magic number wouldn't be an issue here.

Yes, I rarely have open position and the same side pending order. What appeared so far is open position with pending order opposite site only.

How do I set the condition on the current Account Protector? I don’t see condition of same side vs opposite side.

Post automatically merged: Jul 19, 2024

This depends on the actual situation with the trades. If you have some open positions and pending orders on the opposite side only, without pending orders on the same side as the positions, then that's fairly simple - you can just use the positions/orders number conditions and the close orders action. But if you have pending orders on both sides, this becomes tricky. I'm not sure it can be done in the current version of the AP.

EDIT: I mean pending orders on the same side as the position with the same magic number and the same currency pair, of course. Having pending orders on other pairs or with a different magic number wouldn't be an issue here.

Would you consider for future version, adding this tricky feature for open trade and pending order on both sides and close the one opposite the open trade?

Thank you @Enivid, appreciate the hard work and creativity on these wonderful EAs.

 

[Enivid]

Yes, I rarely have open position and the same side pending order. What appeared so far is open position with pending order opposite site only.

How do I set the condition on the current Account Protector? I don’t see condition of same side vs opposite side.

You just disregard the sides. You set the condition for positions >= 1 and for orders >= 1. You also filter currency pairs and magic numbers as you like. You set the action to delete the orders. As a result, you have what you've described.

 

[Almon]

You just disregard the sides. You set the condition for positions >= 1 and for orders >= 1. You also filter currency pairs and magic numbers as you like. You set the action to delete the orders. As a result, you have what you've described.

Right, I got caught up on the sides, it’s actually quite simple. Thank you.

Now I understand the problem whenever there are 2 pending orders with opposite and same sides, because I would want to still trade same side. However, this would do great for now.

Amazing Account Protector with surprising versatility for various use case.

Please kindly consider adding opposite vs same sides filter in future iteration. Thank you @Enivid.

 

[Almon]

I have another question, do you have condition based number of loss trades?

Sometimes the market is trending and I was caught trading a false reversal and end up at a loss. I want the EA to disable auto trade after x amount of loss regardless of percentage loss of capital. This way my account is protected from me trying to chase reversals on trending market by making Auto Trade to stop or any subsequent pending orders to be deleted.

It’s also good to have a timer or a schedule of when another trade is allowed after the restriction.

This is very useful especially when reactivation of Auto Trade or cessation of Pending Order Deletion is protected by a certain password so that it won’t be so easy to resume trading with the in-the-moment emotional tendency to chase the market to oblivion

Thank you @Enivid.

 

[Enivid]

I have another question, do you have condition based number of loss trades?

Sometimes the market is trending and I was caught trading a false reversal and end up at a loss. I want the EA to disable auto trade after x amount of loss regardless of percentage loss of capital. This way my account is protected from me trying to chase reversals on trending market by making Auto Trade to stop or any subsequent pending orders to be deleted.

It’s also good to have a timer or a schedule of when another trade is allowed after the restriction.

This is very useful especially when reactivation of Auto Trade or cessation of Pending Order Deletion is protected by a certain password so that it won’t be so easy to resume trading with the in-the-moment emotional tendency to chase the market to oblivion

Thank you @Enivid.

You can use the number of positions condition in combination with the trade direction filter.

 

[Almon]

You can use the number of positions condition in combination with the trade direction filter.

I’m not sure I understand this as I double checked the EA and I can’t make it work.

What I meant was how to setup a feature which prevents another trade activity after 1 closed trade with a loss, regardless of the points, percentage or dollar amounts.

It’s best that this feature has a timer or schedule of when trade activity can be resumed. I can actually resume using your Scheduler EA, though it would be awesome if Protector has its own robust scheduling built-in.

Plus, for those who haven’t reached advanced psychology, it would be “life-saving” to have the above resume feature tamper-free. I’m not sure how this can be added as a feature besides enforcing and hard code that resume feature.

Thank you Enivid for your kind support

 

[Enivid]

I’m not sure I understand this as I double checked the EA and I can’t make it work.

What I meant was how to setup a feature which prevents another trade activity after 1 closed trade with a loss, regardless of the points, percentage or dollar amounts.

It’s best that this feature has a timer or schedule of when trade activity can be resumed. I can actually resume using your Scheduler EA, though it would be awesome if Protector has its own robust scheduling built-in.

Plus, for those who haven’t reached advanced psychology, it would be “life-saving” to have the above resume feature tamper-free. I’m not sure how this can be added as a feature besides enforcing and hard code that resume feature.

Thank you Enivid for your kind support

I thought you were talking about the number of open positions. No, there is no condition for closed trades.

 

[lwl99]

Hi, I wonder if can the EA say for a grid system with magic number 12345, when floating drawdown reach a certain threshold, it will close the largest dd trade with the largest profit trade at nett breakeven or small profits for just the specific magic number without disturbing other eas running trades. Lets say a grid has 5 positions for averaging, when floating loss for this EA specifically reach -$100, close only the largest drawdown trade (usually the first entry) with largest profit trade so >=0 of profits closed, leaving the remaining 3 trades running until all closed by either tp or this method.

 

[Enivid]

Hi, I wonder if can the EA say for a grid system with magic number 12345, when floating drawdown reach a certain threshold, it will close the largest dd trade with the largest profit trade at nett breakeven or small profits for just the specific magic number without disturbing other eas running trades. Lets say a grid has 5 positions for averaging, when floating loss for this EA specifically reach -$100, close only the largest drawdown trade (usually the first entry) with largest profit trade so >=0 of profits closed, leaving the remaining 3 trades running until all closed by either tp or this method.

It can do almost all of that. Unfortunately, it cannot close only the most losing or the most profitable trade.

 

[Nico DFM]

Hi Enivid,
First, thank you for the amazing bot and the time you spend on the forum helping people.
I have a two quick questions about the Account protector :

- Does it perform the tasks in the action pannel in the order mentionned ?
When I use it, I ask to close all trades and close all charts once a give equity is reached.
However, almost every time, I see that all the trades are not closed, some trades are re-generated between the time when the trades are closed and the time when the charts are closed. No matter if I ask to keep autotrading or not.
Can you explain me why and what to do to fix it ?

- To avoid beeing present each time a goal is reached, I asked the account protector to close all the trades, keep autotrading ON, to take a new snapshot of the goal and kept both the conditions and actions ON by not disabling it in the menu. However, I see that when I start again manually from scratch, the trading begins soflty with the other EA's managed by the Account Protector. But when done automatically (i.e. when the account protector closes the trades), the other EA's starts much more aggresivier, with more trades (and then triggering suddenly a bigger equity). Why does it perform like that ?

Thank you a lot,

Nico