Close trade when MAX DD is reached

[bagheria]

Hello!

I'm trying to find some info on this forum but it's pretty confusing.
I would like to have the possibility to define a max DD (in%) from which the positions will close if the defined max DD is reached.
Thanks for your help

[l'andorrà]

@bagheria You can try this:

[bagheria]

Thnak you so much!!!! I will try that!

[bagheria]

@l-andorrà Thanks. So it works but once I have reached the DD value I set, all trades after close immediately....Absolutely all...Or maybe I need to place your scheme in "On trade" tab?

[bagheria]

I love fxdreema but it's amazing how easy it is to find a solution.
I would like that when a losing trade reaches 10% of my equity or my balance (in loss therefore), the position is cut. And for all the following trades too! Not just one. it doesn't have to be a statistic ...
Can somebody help me please? It's really important.

[djlaserman]

@bagheria said in Close trade when MAX DD is reached:

fter close immediately....Abs
that's because the MAX DD as described in the snippet bot is static. once that value is true, it's always true until you stop the bot and re-run it. rather look into profit unrealized block and use that with for-each trade to accomplish the closing of positions once there is a certain amount of drawdown or loss on those trades. a stop loss would roughly accomplish the same.

[bagheria]

@djlaserman Thank you for your feedback but the unrealized profit block is valid to configure the number of pips or the amount lost, but not a % loss. Unless I can use a formula here ???

[l'andorrà]

@bagheria I'm not sure I fully understand what you mean. If you have 3 open trades and only one of them is losing 10% of your balance all trades should be closed. Is that what you mean? So only one trade is required for the condition to apply or the combines loss of all open trades is?

[bagheria]

@l-andorrà Hi. No the matter is when the DD max is reached, the positions closed. That's ok. But after, no more positions open. It seems that we need to turn off the EA and turn it back on (from what I understand) so that it can resume positions. Otherwise all following positions cut immediately

[bagheria]

Hi!

When the DD is reached, do I need to remove and reattach the EA or need I restart the MT4 platform to continue to trade?

[l'andorrà]

@bagheria Sorry, I missed your last reply. You don't need to remove the EA from the chart at all. You can use a 'Turn On/Turn Off' block just stopping your launcher structure every day. You need to connect/disconnect it on a daily basis to do that.

[bagheria]

@l-andorrà said in Close trade when MAX DD is reached:

@bagheria Sorry, I missed your last reply. You don't need to remove the EA from the chart at all. You can use a 'Turn On/Turn Off' block just stopping your launcher structure every day. You need to connect/disconnect it on a daily basis to do that.

Thanks. Can you show me with blocks how to do that please?

[mcvinbabas]

@l-andorrà
cool

[TipsyWisdom]

@l-andorrà said in Close trade when MAX DD is reached:

@bagheria You can try this:

the problem with this if it still exists, is that you havent turned the numerical value of 20 to represent a percent of anything. Its just the #20. I think you would first have to do a formula block, or modify variables of sorts...some combination maybe, to first create a variable that represents a % of balance or equity, then multiple that variable to have a referenceable percent now.

[l'andorrà]

@bagheria Here you have an example:

https://fxdreema.com/shared/KoZ4XoeUd

Sorry. I see a mistake. All blocks should be on the 'on tick' tab, not on the 'on init'.

[mcvinbabas]

@l-andorrà
Hi sir how can i do this in mt5 it seems no statistics under condition in mt5?
Thank you

[Hiten7405]

@tipsywisdom hi sir,
i am use this but after trade close in loss ea not work normal,
all new trade close instant.!

[bagheria]

@hiten7405 It is I said previously. When the DD is reached, all opened trades after closed immediately. And I have not solution to correct that.

[bagheria]

@l-andorrà thanks again for your time. But your attached scheme is not avalaible cause you speak about consecutive loses. Is it possible to have, for all, a complete scheme please? It seems we are someone to ask the same thing. Thanks a lot!

[l'andorrà]

@mcvinbabas Sadly those statitics features are not availabe for MT5. I don't know how they can be implemented on MQ5, sorry.