MTP Development Notes 1｜The reason I, who struggle with stop losses, am creating an EA copy called MTP.
Hello, I’m Tsumo.
This article isthe first of the MTP Development Notes.
Since this is the first, I will start by explaining why I’m creatingMTPas a copy EA.
Starting right off, I’m not good at cutting losses.
I understand it in my head.
Cutting losses is important.
Leaving a drawdown unmanaged is dangerous.
If your capital management collapses, it’s over.
To survive in the market, you must acknowledge losses somewhere.
I know this.
But when the unrealized loss is right in front of me, I can’t cut it easily.
“If I cut here, maybe I’ve hit the bottom.”
“If I wait a little longer, it might come back.”
“If I cut now, it’s just a definite loss.”
“After I’ve endured this long, it would be wasteful not to hold.”
I think this way.
And I can’t cut.
I believe there are others reading this who feel the same.
I know cutting losses is the correct thing to do.
But I can’t do it.
I know the right logic.
Yet when I face the real trading screen, my hands freeze.
This gap is quite heavy in the market.
Here are the MTP-related products.
MTP: Master [Free]
https://www.gogojungle.co.jp/tools/indicators/79103?via=usersMTP: Slave [Paid]
https://www.gogojungle.co.jp/tools/indicators/79106?via=users
If you can’t cut losses, do you have to quit the market?
It’s a common belief.
People who can’t cut losses aren’t suited for the market.
If you can’t cut losses, you should quit FX.
Holding drawdowns will eventually eliminate you.
Probably, this is true.
At least, if you just set random lots and endure drawdowns while praying, you’ll eventually break.
But then I thought here.
Should people who struggle with cutting losses avoid staying in the market altogether?
Become a strong person who can cut losses.
Of course, that’s ideal.
But if you base everything on that ideal, people like me will eventually break.
So I changed my thinking.
How should we design to stay in the market even if cutting losses is difficult?
From here, the MTP way of thinking began.
What is MTP?
MTP is,Mirror Trail Proan abbreviation.
As an MT4-based copy/trailing EA, it works by the position information on the MTP: Master side, while the MTP: Slave side trails it.
However, it isn’t simply copying.
When the Master enters, you enter immediately.
When the Master increases, you follow in full.
Use the Master’s TP as is.
Just doing that can make the Slave account strained.
Because the Master and Slave are not under the same conditions.
Execution prices differ.
Account funds differ.
Lot settings differ.
Spreads differ.
Margin availability differs.
The drawdown you can endure differs.
Therefore, in MTP it’s not just about “copying,”but about how to trail in a way that reduces the risk of collapseis emphasized.
MTP is not an EA that promises huge profits
First of all, I’ll state this clearly.
MTP is not a magic EA that guarantees you will win if you use it.
If there were something like that, I’d be quietly using it myself.
Probably I wouldn’t be writing this article like this.
MTP does not promise exploding profits.
What it aims for is more modest.
Robustly sized lots
Tiered trailing that doesn’t chase too aggressively
Favored entries that don’t enter on unfavorable setups
Favored closes that aren’t overly greedy
Trailing to protect profits
Account health filter
Stop-filter for indicators
RSI filter
Exit design for hedged positions recovery
Visualization with a Dashboard
Awareness from smartphone notifications
By combining these, we use EA not as a “box that earns by leaving it alone,”but as a tool to design riskinto it.
This is the MTP way of thinking.