Loss Recovery1 is an Expert Advisor for recovering losses of positions that were opened in the wrong direction (that were opened by another EA or manually). This EA recovers your loss and close your position without using dangerous martingale /Averaging methods. This EA places some positions in opposite direction and some positions in direction of wrong position and manage these positions with mathematical methods until recovering total loss of the position.
Using EA
The EA is very simple and without complicated input parameters. There are main parameters must be set:
- EA Action:
- Single Position With Specified Ticket (Order ID) : EA recover only in-loss position with ticket that specified in "In-Loss Position Ticket" field.
- All Positions On Account : EA recover all positions with loss greater than "Distance to Start" field.
- All Positions On Current Chart : EA recover all positions with symbol equal to attached chart and loss greater than " Distance to Start" field.
- All Positions With Magic Number : EA recover all positions with defined magic and loss greater than " Distance to Start" field.
- In-Loss Position Ticket (Order ID) [If Action=Single] : Ticket of existing wrong position specified in "In-Loss Position Magic" field.
- In-Loss Position Magic : Magic Number of Positions you want to recover.
- When to Start Recovery? Two Options : Points (Start recovery when specified DD in Points occur) / % of Balance (Start recovery when DD of Position is Greater than specified percent of balance.)
- Distance to Start: Distance in Points to start managing and recovering loss.
- Loss to Start: Loss on position to start managing and recovering loss.
- Distance of Positions: Distance in Points to open next level positions.
- Volume Percent for In-Dir Positions: Volume Percent of Positions in same direction of wrong position.
- Volume Percent for Opp-Dir Positions: Volume Percent of Positions in opposite direction of wrong position.
- Show Panel : Option to Enable/Disable Live Reporting Panel on Chart.
Recommended Values :
| | Conservative Mode (Recover Loss Slowly with Low Risk)
| Fast Mode (Recover Loss as soon as possible)
| Golden Mode
(for EURUSD,AUDCAD,...)
| Golden Mode
(for GBPJPY,GBPUSD,...)
|
| Distance to Start | 2000 (200 for 4point accounts)
| 1000 (100 for 4point accounts)
| 500
(50 for 4point accounts) | 1000
(100 for 4point accounts) |
| Distance of Positions | 2000 (200 for 4point accounts) | 1000 (100 for 4point accounts)
| 1000
(100 for 4point accounts) | 2000
(200 for 4point accounts) |
| Volume Percent for In-Dir Positions | 50
| 30
| 50 | 50 |
| Volume Percent for Opp-Dir Positions | 50
| 10
| 50 | 50 |
Testing EA
For testing the EA you must enter a position information in wrong direction. The EA open a position at time and volume and direction you entered and then start managing DD. Make sure that after position opened, market move in wrong direction.
- EA Action: Set to "Testing Mode"
- TESTER Wrong Position Time:
- The time for inserting wrong position in the format: hh:mm as example: 15:35
- Position will be opened in market price at time you specified on start date of your testing period.
- TESTER Wrong Position Direction: BUY or SELL
- TESTER Wrong Position Volume: Volume of the wrong position (lots)
- Test EA with large deposit and large volume.
- You can optimize EA by changing parameters : Distance to Start, Loss to Start, Distance of Positions, Volume Percent for In-Dir Positions, Volume Percent for Opp-Dir Positions.
Recommendations and Using Conditions
- The EA only works on hedge accounts (netting is not supported)
- Works best for positions with large volumes. (>0.1 lots). If your deposit is low, using cent or micro accounts is better.
- You can continue your trading on your account. The EA manages your wrong position and own opened positions until recovering loss.
- It is recommended to disable any trading operations by other EAs on recovery started positions.
Other Versions :
Shortcut Group is ready to help you about using the EA, Please don't hesitate to contact me.
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