I’ve gone through all of WebZone’s post and tried to distill the info into a specific list of programmable functionalities. Hopefully this is all stuff we can agree on (though I’m mostly asking Kent ;-). The only parts “invented” by me is Part 2, step 12 Primer cleanup, and Part 3 – Whistles and bells.
There may be more to the system that I don’t know yet, but the parts that I do know that I DON’T know follows below. (All referred to posts are by WebZone as exhalted keeper of the system knowledge and the dark arts of screwing with all other forex traders…). (Sorry, this project brings out the nerd in me
#98:
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4. When the rate has passed the opening point of with an (adjustable amount of pips, then a pending order on a normal trade against the trend is made. (This is to minimize the amount of red trades carried)
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and
#105:
<snip>
2 and 4.
That the trade is opened in trend direction means, that if we are at 1.5000, then a buy order should be made at 15050 but not a sell order. If the rate then goes to ie. 15075 (adjustable by pips) then a sell order is placed at 1.5050, so that in a trending market, then we wont carry too many red trades with us.
So no analysing trends. But pure mathematics.
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This seems to refer to added flexibility, basically extending the placement range in trending markets. Might be very difficult to program without turning to arrays with fixed orders. Is it optional? How do you make these decision while trading manually?
#98:
<snip>
Primers:
- If the drawdown each pips raises to 0.06% of total Equity. Then primers are started
- Primer size shall be more than total drawdown/3 , and less than total drawdown/2
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Dividing the unit difference for the primer calculations is still not clearly specified. Maybe 2.5, is correct, maybe 2.8? 3 is too much…
#158+161:
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The calculations that I have made is all based on leverage x100 because the primers needs to be leverage x100 to work as planed.
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I don’t understand what effect leverage would have, but mabe we should say that the EA only works on x100 accounts (without it being a problem to me at least). It should be made clear to any users though.
#195:
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About the trade size.
I think that it might be a good idea to make the EA check if there is already an open trade. And then adjust the lot size so it fits the current lot size of the system, so that there is two smaller trades open with at lot size that added together is the same as the current lot size.
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This is part 1, step 9 in the list, which I’ve left open. I’ve included replacing undersized pending orders, but should all open orders (in some proximity) be increased as well when lot size in general increases? I haven’t seen any way to do that manually in MT4 (you can close parts of an order though), but maybe programming can add lots to an existing open order. Having multiple open orders at close to the same range would not work with the basic structure of the EA today (I think) as a 6+ pips difference will lead to new orders being placed in all directions and thereby doubling the trades.
#338:
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Personal I’m setting primers every 15 pips with a trailing stop of 2 pips and TP of 75 pips. It makes it more effective in trending markets and minimize the drawdown on retracements.
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Is this a personal aggressive choice, or should we change the default numbers for primers?
And lastly, the “official” Greenlander investment plan calls for a significantly more aggresive growth in lot sizes than what we have been using here so far. How was that calculated? (Or more accurately, should we change the lot calculations in the EA?)
Phuh! That was a long one, but hopefully it will quickly lead to a complete and correct documentation of the entire system so that we can get “the right stuff” programmed.
Re
D