Need help using % of equity rather than a % of free margin, code included..
This code will place an order with a % of equity used, but it is only for fixed %. A need to be able to increase the risk depending on win/loss as per the code in the first post (that code would be perfect but it uses a % of free margin instead of equity). I believe just a little chop and changing is required but I have tried for a few days now to no avail. I have been trying to squeeze "if profit <|> 0" section of the code above but no luck as of yet so looking for some help.
void BuyOrderRiskFixed2() { double lotsize = MarketInfo(Symbol(),MODE_LOTSIZE) / AccountLeverage(); double pipsize = 1 * 10; double maxlots = AccountFreeMargin() / 100 * BalanceRiskPercent2 / lotsize * pipsize; if (BuyStoploss2 == 0) Print("OrderSend() error - stoploss can not be zero"); double lots = maxlots / BuyStoploss2 * 10; // calculate lot size based on current risk double lotvalue = 0.001; double minilot = MarketInfo(Symbol(), MODE_MINLOT); int powerscount = 0; while (minilot < 1) { minilot = minilot * MathPow(10, powerscount); powerscount++; } lotvalue = NormalizeDouble(lots, powerscount - 1); if (lotvalue < MarketInfo(Symbol(), MODE_MINLOT)) // make sure lot is not smaller than allowed value { lotvalue = MarketInfo(Symbol(), MODE_MINLOT); } if (lotvalue > MarketInfo(Symbol(), MODE_MAXLOT)) // make sure lot is not greater than allowed value { lotvalue = MarketInfo(Symbol(), MODE_MAXLOT); } double SL = Ask - BuyStoploss2*PipValue*Point; if (BuyStoploss2 == 0) SL = 0; double TP = Ask + BuyTakeprofit2*PipValue*Point; if (BuyTakeprofit2 == 0) TP = 0; int ticket = -1; if (true) ticket = OrderSend(Symbol(), OP_BUY, lotvalue, Ask, 4, 0, 0, "My Expert", 1, 0, Blue); else ticket = OrderSend(Symbol(), OP_BUY, lotvalue, Ask, 4, SL, TP, "My Expert", 1, 0, Blue); if (ticket > -1) { if (true) { OrderSelect(ticket, SELECT_BY_TICKET); bool ret = OrderModify(OrderTicket(), OrderOpenPrice(), SL, TP, 0, Blue); if (ret == false) Print("OrderModify() error - ", ErrorDescription(GetLastError())); } } else { Print("OrderSend() error - ", ErrorDescription(GetLastError())); } }
After hours of trying I have finally solved my own problem. I will share the solution below just incase it will benefit someone in the future:
void BuyOrderRiskFixed2() { double profit = 0; datetime lastCloseTime = 0; int cnt = OrdersHistoryTotal(); for (int i=0; i < cnt; i++) { if (!OrderSelect(i, SELECT_BY_POS, MODE_HISTORY)) continue; if (OrderSymbol() == Symbol() && OrderMagicNumber() == MagicNumber && lastCloseTime < OrderCloseTime()) { lastCloseTime = OrderCloseTime(); profit = OrderProfit(); } } if (profit > 0) { CurrentBuyRisk4 = CurrentBuyRisk4 * RiskBuyMpOnProfit4 + RiskBuyChOnProfit4; if (RiskResetOnProfit4) CurrentBuyRisk4 = RiskPercent; } else if (profit < 0) { CurrentBuyRisk4 = CurrentBuyRisk4 * RiskBuyMpOnLoss4 + RiskBuyChOnLoss4; if (RiskResetOnLoss4) CurrentBuyRisk4 = RiskPercent; } if (CurrentBuyRisk4 > MaxBuyRisk4) { CurrentBuyRisk4 = MaxBuyRisk4; } double lotsize = MarketInfo(Symbol(),MODE_LOTSIZE) / 1; double pipsize = 100 * 10; double maxlots = AccountEquity() / 100 * CurrentBuyRisk4 / lotsize * pipsize; if (StopLoss == 0) Print("OrderSend() error - stoploss can not be zero"); double lots = maxlots / StopLoss * 10; // calculate lot size based on current risk double lotvalue = 0.001; double minilot = MarketInfo(Symbol(), MODE_MINLOT); int powerscount = 0; while (minilot < 1) { minilot = minilot * MathPow(10, powerscount); powerscount++; } lotvalue = NormalizeDouble(lots, powerscount - 1); if (lotvalue < MarketInfo(Symbol(), MODE_MINLOT)) // make sure lot is not smaller than allowed value { lotvalue = MarketInfo(Symbol(), MODE_MINLOT); } if (lotvalue > MarketInfo(Symbol(), MODE_MAXLOT)) // make sure lot is not greater than allowed value { lotvalue = MarketInfo(Symbol(), MODE_MAXLOT); } double SL = Ask - StopLoss*PipValue*Point; if (StopLoss == 0) SL = 0; double TP = Ask + TakeProfit*PipValue*Point; if (TakeProfit == 0) TP = 0; int ticket = -1; if (true) ticket = OrderSend(Symbol(), OP_BUY, lotvalue, Ask, Slippage, 0, 0, ExpertName, MagicNumber, 0, Blue); else ticket = OrderSend(Symbol(), OP_BUY, lotvalue, Ask, Slippage, SL, TP, ExpertName, MagicNumber, 0, Blue); if (ticket > -1) { if (true) { OrderSelect(ticket, SELECT_BY_TICKET); bool ret = OrderModify(OrderTicket(), OrderOpenPrice(), SL, TP, 0, Blue); if (ret == false) Print("OrderModify() error - ", ErrorDescription(GetLastError())); } } else { Print("OrderSend() error - ", ErrorDescription(GetLastError())); } }
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I need to make this order function use a % of the AccountEquity rather than a % of the AccountFreeMargin. This code allows the risk to be adjusted depending on a win/loss, but calculates risk depending on free margin when I need it to calculate based on equity. In the 2nd post of this thread I have posted an example of an order function using a % of equity, but the % is fixed and does not have the if "profit >|< 0" code as per the code below.