AutoOrderModifyPro

What is AutoOrderModifyPro?

AutoOrderModify Pro is a supporting tool for all Manual and System Forex Traders.
It works perfectly for situations like:

“I’m lazy to calculate StopLoss and TakeProfit every time I open a position.”
“I want to control all of my manual trading with Trailing stop and/or Break even”
“It’s annoying to calculate all of opened positions for averaging.”

Major functions:

1. Automated TakeProfit and StopLoss: Just open the positions you wish!
2. Automated Trailing Stop.
3. Automated Break Even.
4. The possibility to combine multiple opened positions
5. The possibility to manage positions by the currency pairs (up to 3 patterns)
6. The possibility to manage all positions on the same MT4 terminal window
7. This program works as an EA and works for all opened positions.
8. The possibility to calculate the StopLoss automatically by the account balance (from ver. 1.07)
9. Average Trailing Stop and StopLoss of opened positions (from ver. 1.10)
10. Loss Reduction: auto recovering mode in case of unexpected losses (from ver. 1.18)

* You can easily decide to use or not to use all functions mentioned above.
* AutoOrderModifyPro works as an EA. One AutoOrderModifyPro is enough to control all positions opened by other EAs or positions opened manually.

This product is no longer supported. Integrated into AutoOrderModifyEA Pro.

AutoOrderModifyEA Pro

Manual trading supporting tool: AutoOrderModifyPro

Here you can find the basic function for the AutoOrderModifyPro.

The advantage of trading with various positions

Generally speaking, it is quite common to operate with adding positions for the trading direction that a trader has decided. The idea is like; “With my account balance, I can trade with 0.30 lot size but, for now I’m not pretty sure the current market trend so…, well…, I open a position of 0.10 lot size for now. Later I may add next 0.20 lot size after confirming if the market trend is safe.”

The point is that the advanced traders know very well that it is quite rare to find “the best timing to open a position”.

Many breakout traders wait for a true breakout moments. After reaching the mountaintop and reaches the breakout, one may open a position with the initial lot size. Later if it creates the trend, he/she may add more positions. If the breakout was a fake, you may close the initial position no adding next positions, meaning you could avoid opening unnecessary positions.

The key factor for the forex trading is “how to save the account balance” and it means that it is critically important to operate with reduced risk. If the breakout was a fake but you had opened the position with your permitted full lot size, your loss could be big. However, if you had opened a position with a mall lot size your loss could be quite small.

To open positions with different timing works fine to minimize the risk but also it can give you more trading strategies.
If the trading option is just two; to trade or to skip (not to trade), the strategy could be a little poor; win/loss or wait for the best timing. (The best timing sounds so attractive but how you can know it?)

or example, you may invest all of your money at once when you are convinced with the market situation but this is not common. If the market situation is complicated, you may trade with divided money size and you may judge the market tendency patiently. Do you see the point? There are more trading options.

Combine function

The concept of positions management was individual until now but we have added the new function to manage multiple positions at once as if a single position. This is a new function added for the professional version.

It is useful as well to manage every position separately however it is indeed useful to be able to combine multiple ongoing positions as one position, it means you can manage them as if using just one stoploss, trailing stop or breakeven.

With this function you can have one stoploss, trailing and/or breakeven parameter for various position. It’s really smart and nice to trade with many positions. Those who had not yet tried to trade with multiple positions, AutoOrderModifyPro will be a nice and helpful tool for you.

※The combine function of AutoOrderModifyPro works only for managing the “same Pair and same direction (long/short)” positions. The other positions of different pair or direction will not be combined.
※If you open additional position (same pair and same direction), AutoOrderModifyPro will re-calculate stoploss parameter newly.

Other important additional functions

“Unique setting for different pairs” was developed for giving users to have more possibility to deal with risk. For example, users may wish to manage separately some pairs with big movement, for example GBPJPY.

It means that users can have different and several settings like: stoploss=20pips for USDJPY, stoploss=30pips for EURUSD, stoploss=40pips for GBPJPY.

※We have a plan to differ settings by time frame for future.
If there are many requests from users we may begin to develop it.

There is another new function as well. Users can manage the EAs by the following concept: To exclude positions opened by other EAs. This function was originally developed for the users who want to manage the manual-trading positions.
AutoOrderModifyPro can ignore the positions opened by some specific EAs, by entering their magic numbers.

In other word, AutoOrderModifyPro is also able to manage the positions opened by other EAs.
Imagine that, there are some great EAs but lacking the trailing stop or break even function. If they are open source EAs you may add the desired functions by yourself but the vast majority of the cases there’s no source code and you can’t develop the additional functions. (We know that some of our clients are using AutoOrderModify for this purpose)

Trailing function (not implemented on the freeware version (from Ver. 1.03))

From this version, the trailing distance is more flexible.

Until the ver. 1.02, the trailing distance worked only by the fixed parameter. For example, if you define 30 pips for StopLoss and 20 pips for TrailingStop, trailing would start when the position reaches the benefits over 20 pips. When the benefits reaches 30 pips, the stoploss would be placed at -20 pips.

From the ver. 1.03:
TrailingDistance = 30 pips.
TrailingStop = 20 pips.
→ When the position reaches 20 pips benefits, the trailing would start. Stoploss = -10 pips (20pips-30pips）
→ When the position achieves 30 pips benefits, stoploss = 0 pips (30pips-30pips)

Another example. If you wish to assure 30 pips benefits when the position reaches 100 pips: TrailingDistance = 70 pips, and TrailingStop = 100 pips. This gives more flexibility to the strategy.

HighLow

This is the function to be used for “One day after opening the LONG position; to be placed stoploss at the last day’s lowest point (highest point for SHORT) if the opened position is in profit. Originally this was developed as a part of trailing function, so this will work only when the stoploss < last day’s lowest point. (It means that if the last day’s lowest point is similar to the current point).

This will be applied continuously, meaning that if the day after today is better, it will re-place the stoploss again.
On the above example, Daily time frame is used but this function works fine with M1 to Week time frames.
Bellow is an example of the setting by the time frame of H1.

After opening the position, it enters into the profit line. We see that the stoploss is placed at one line before of the time frame H1（USDJPY 122.8 approx.）

The price rise higher, and the min price was updated meaning the stoploss is also re-situated.（USDJPY 122.93）

The situation of this example seems a little calm, may yes but may not to have big positive movement. However, in case that the price rises again, the stoploss would be set newly at the current bottom line (USDJPY 123.00 approx)
In the opposite case, the position will be closed at the current stoploss line with a profit.

CONFIGURATION

Activate “High Low” on the “TrailingMode”.
Let’s select the time frame for the “TrailingHLTimeFrame”（ex D1, H1 …）

On the “TrailingHLBuffer” we shall define the buffer value of the previous line low or high.
Let’s place the value somewhat far from the bottom price (expecting that this will be the supporting range line).

Example）In case of LONG:
The last day’s lowest price was USDJPY 122.
TrailingHLBuffer is set as 1.0 (pips).
→ The stoploss will be placed at USDJPY 121.99.

In case of SHORT:
The last day’s highest price was USDJPY122.
TrailingHLBuffer is set as 1.0 (pips).
→ The stoploss will be placed at USDJPY 122.01

Auto stoploss calculation (new!)

t is now possible to manage the stoploss by the percentage of ”the current account balance”
This function will be activated by selecting “True” of the 「UseMoneyManagementSL」 (Default is “Fault”).
Please define the StopLoss by the percentage.

It could depend on the way of trading of each user but we may recommend maintain 5% as a max percentage value.
※Developer’s comment: “In my case, I never use this function over 1%. But I understand that there are some traders to invest few amount of money with high percentage of risk. So, in this case I rather say that it’d be ok to use over 5 % as well”

※RMKS
It’s necessary to have the forex rate data, meaning that this EA is receiving internally the data of each currency pairs. This means that it’s important that the EA can recognize correctly the currency pairs data, hence if the currency pairs have the additional prefix or suffix, such as “_pro” it is necessary to define these on the “PareEndChar” parameter.

Trailing and BreakEven by Percentage (Ver. 1.11)

The previous version was developed with the concept by pips, however from this version the user can create its own strategy by the percentage of the desired TakeProfit.

Ex) We open a position of USDJPY with 100. Let’s say that the TakeProfit target is 110 and we define the Trailing initial point as 50%, meaning that the trailing function will start from 105.

【Start Trailing at 50％】
USDJPY 110　TakeProfit
USDJPY 105　Begins the Trailing
USDJPY 100　The position opened

BreakEven works with the same idea. If we add “BreakEven at 20%”
Let’s see the next example.

【Start BreakEven at 50％】
USDJPY 110　TakeProfit
USDJPY 105　Begins the Trailing
USDJPY 102　Begins the BreakEven
USDJPY 100　The position opened

（Plese select “Percent” at the TrailingInputMode and/or BreakEvenInputMode）

Distance of Trailing Function by Percentage

From the current version, users can manage the positions by the percentage in addition to the pips.
“TrailingDistance = 20” meant that the distance of the trailing was 20pips even though the price line moved to 30 pips or even 100 pips. From this version, the distance could be figured by the percentage as well

For example, let’s select 70 percent. When the price line moves to 30 pips, the EA will place the stoploss at 21pips benefits to be assured (30 x 0.7). When the position reaches the 100pips, the program will assure the benefit of 70pips (100 x 0.7).

The usage is quite intuitive, the user just need to input whatever-value at the TrailingDistance selecting “Percentage” of the TrailingDistanceInputMode (for example, if you want to assure 70 percentage of benefit, just type 70 here).

RMKS: This function can be used with the multiple position combine system.

Loss Reduction Function (New)

There were functions to assure the benefit such as Trailing Stop and/or Break Even, however from this version users may assure the base account balance recovering the loss with the “Loss Reduction Function”.

We often see that our opened positions seem no way to win and the price line is almost reaching the stoploss level….
Ok, now it seems somewhat recovering, oh yes, oh no…. Generally speaking it’s sad but it’s common that we don’t expect any more to win, but we rather say if we could recover a half we even believe that it’s fine.

Loss Reduction Function was developed with this idea.

Let’s say that the initial stoploss is 100pips, the initial value of Loss Reduction is 80pips, the stoploss for the Loss Reduction is 40 pips. In this case,

StopLoss: 100
UseLossReduction: True
LossReduction: 80
LossReductionStopLoss: 40

Hypothetically our precious opened position is now 80pips negative, and the EA starts the Stop Loss function. Then TakeProfit will be set at 40 pips (40 pips negative) and the position will be closed when it recovers until this level (finally 40 pips negative).

RMKS: This function can be used with SummaryMode and/or AverageMode.

RMKS

Please confirm the usage and performance of this program on the demo accounts before using it on your real accounts.

After you have found your own usage and strategy with a demo account, please save the configuration first.
On your real account, open the saved configuration setfile instead of typing everything manually. (It’s always better to use the setfile).

The responsibility of any losses caused by this program is attributed for the user.

This program is not limited for the personal accounts but business accounts as well.

It is totally forbidden any reverse engineering, modification and/or resell of the program.

The maximum concurrent number of the licenses is up to five. (Five accounts)
Please eliminate the unnecessary license from our licensing server or please make another purchase if you wish to use the program for more accounts.

Please feel free to contact us if you have any question.