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Specification
I need an EA cutting loss positions every specific timeframe, if a specified (balance - equity)/balance % is reached.
Parameters should be the following:
| N° | Description | Value | Explanation |
|---|---|---|---|
| 1 | TF | M1, M5, M15, and so on | The TF at which EA performs controls |
| 2 | (Balance - Equity)/Balance % | % choosen by me (i.e. 5%, 10%, and so on | The % over which EA starts to cut positions at loss |
| 3 | Trades to cut | digit valut | The number (1,2,3...) of deals to be cutted each TF if Equity/balance % is crossed |
| 4 | Deals to cut | 1) The oldest 2) The youngest 3) The Lowest loss (absolute value in dollars, euros etc.) 4) The Greatest loss (absolute value in dollars, euros etc.) 5) The Lowest pips 6) The Greatest pips | 1) EA cuts the oldest position (hour/date) accordingly to number in point 3 2) EA cuts the youngest position (hour/date) accordingly to number in point 3 3) EA cuts the position with lowest loss 4) EA cuts the position with greatest loss 5) EA cuts the position with greatest distance (in pips) from entry price 6) EA cuts the position with lowest distance (in pips) from entry price |
Suppose the following parameters:
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TF = 5M
Equity/Balance % = 25%
Trades to cut = 3
Deals to cut = The Oldest
In this scenario, EA every 5 minutes checks if (balance - equity)/balance crosses over 25%. If not EA do not performs anything. If Yes, starts to cut positions accordingly to others parameters. If Yes, EA cuts 3 oldest positions.
EA then waits next 5 minutes, and performs a new check on (balance - equity)/balance %. If again over 25%, a new cut of 3 position is performed.
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Another example:
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TF = 1H
Equity/Balance % = 30%
Trades to cut = 1
Deals to cut = The Greatest pips
In this scenario, EA every 1 hour checks if (balance - equity)/balance crosses over 30%. If not EA do not performs anything. If Yes, starts to cut positions accordingly to others parameters. If Yes, EA cuts 1 position, with greatest distance from entry price than all the other ones (EA considers only distance about deals in loss).
EA then waits next 1 hour, and performs a new check on (balance - equity)/balance %. If again over 30%, a new cut of 1 position is performed.
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Please also consider that:
Deals to be cutted comes from another EA.