I am an investment professional with a full time job in private equity, but with a passion for systematic trading in foreign exchange ("FX"). I have a strategy that I'm aiming to build a track record on - but I need something that saves me time - I'd like the EA to enter trades itself, but more important is the ability of the EA to calculate and execute trade size / % of my account balance ("AUM") I'd like to risk per trade.
I'm looking for someone to design an Expert Advisor ("EA") that would work on MetaTrader4 ("MT4"). The EA would help manage position sizing in trade management as well as enter enter trades.
In some detail, here's what I'd like to happen whenever I want to enter a trade. It's worthwhile noting that I have successfully asked someone to build the EA code that allows this to take place manually - I am looking for this to become more automated. Also worth noting I trade across many different FX pairs - and this EA would need to operate as a mutually exclusive addition to trading each market (so that what happens in one market doesn't impact another):
1) When entering the trade (based on an entry system which I can describe in more detail later), the EA automatically knows how much AUM to put at risk, based on the trade history on the account in this market. I want it to help me trade a variation of Martingale Trading Strategy as follows:
Let's say I have a standard % to Risk of "R" (by the way the EA at some point needs to ask me what % R should be). If I'm entering for the first time, I want to risk 1xR or "1R". If that trade is a losing trade (that is, the trade hit my SL), for the next trade I want to trade as much as it takes to cover my last loss + another R. In this example, I would trade 2R. Let's say trade number two also loses. In the next trade, I would trade enough to cover my last loss only (so 2R), + another R, so I would trade 3R. Now let's assume my third trade is a win (that is that the trade hit my TP). That means I have won, and my third trade win has successfully "covered" my second loss. My fourth trade would aim to cover my first loss, so I would trade 2R for trade number four. If that wins, then I would go back to trading my minimum of R at risk per trade, because every trade that lost, has been "covered". So the system only reverts back to risking 1R if every loss I have experienced has been covered by a winning trade.
The pattern of my trades in terms of amount risked (R), whether or not it Won (W) or lost (L) that I just described is as follows:
1. 1R, L
2. 2R, L
3. 3R, W
4. 2R W
5. 1R...
In this example, trade three covered trade two loss, and trade four covered trade one loss. Then I go back to risking R per trade.
The slight variation to this would be if I have a trade open already. If that were the case I'd assume that trade was eventually going to be a losing trade. It is then possible to have two trades open at the same time, and depending on where my SL and TP levels are, I could lose the trade I was aiming to cover the assumed loss on, and then win the trade I had assumed would lose. So let's say in my example above, my third trade lost, but my second trade won (because trade three opened at a time that trade two was still open - and trade three was sized as if trade two would lose). I would trade as follows:
1. 1R, L
2. 2R, W
3. 3R, L
4. 4R, W
5. 1R...
In this example above, trade two win covered trade one loss, trade four win covered trade three loss. Then I go back to risking R per trade, because every loss has been covered.
So that's it really. Hopefully this is detailed enough that you know what I'm looking for. Thanks!
About the recuiterMember since May 20, 2018 Ajay Kumar
from Ohio, United States