Khangfm replies to: Pivot Trading

Hi fellow traders,

as my experience with Davit’s Fib Pivot increases, I have decided to add some features to the trade manager published earlier here.

Last week I wrote post 20931 because I was in deep DD on AN and very close to hit my equity SL. Since I still believed in this trade and probabilities
of a reversal were increasing, I asked Davit if it could be a good idea to close only a fraction of my position, taking a partial loss instead of a full one.
Davit answered on post 20934, saying that this could be a possible way to manage the existing position while waiting for a probable correction. Even before my question, Davit on post 20918 remarked this concept : “….usually happens after you throw the towel take the loss then price reverses and why I insist incremental losses taken never at once unless you must.

So, following this idea, I have added a couple of parameters to the trade manager to have the chance to take only a partial loss instead of been stopped out
at a 100% loss, if you are convinced that reasons to stay in the trade are still valid.
Please bear in mind that if PA doesn’t turn in your favor the final total loss could be bigger than the one you set in the beginning.
One way to avoid this could be to lower the _X_PercentLoss parameter value once you’re out of DD, to reduce your SL equity amount accordingly.

New parameters:

input bool flagComment = true; // display on upper left corner Profit%, Profit$, Trades#, Lots#, PpP (experimental, rough amount of pips/trade to hit SL)
input bool flagPartialClosing = true; // set ot tp true if you want to close only a few position once your equity SL has been reached
input int fractionToBeClosed = 3; // represents the fraction of your total lot number to close, e.g. suppose your position has 0.03 lots, 1/3rd will be closed

You can activate this feature while trades are running. It’s important to know that will be closed the trade (or part of the trade) with the largest DD.
As written in previous post the EA is provides “as is”, there could be errors so if you want to use it do it at your own risk.

Best regards,

Porta itineris dicitur longissima esse

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