Today we will take a closer look at the Total Profit Close module built into AOTI-EA-Assistant. Although this module has already been described in the AOTI-EA-Assistant guide, there are still questions about its use.
Why Do We Need the Total Profit Close Module in AOTI-EA-Assistant?
Since AOTI-EA-Assistant is not a fully automatic EA that can work in “set and forget” mode, I recommend from time to time controlling the trading process to avoid some uncomfortable market situations that may arise during the trading day.
What these uncomfortable market situations can be: for example, the release of important news that can have a significant effect on technical analysis and, therefore, on the price movement. And also the approach of the price to the key (strong) levels, the breakthrough of which is rarely possible.
Testing the support level multiple times makes this level key and strong: it is difficult for the price to overcome this level at once without a pullback, especially if there were several bounces from the level before. Moreover, the more bounces from the level, the stronger the level!
The price tried to consolidate under the level and turn it from support to resistance, but the bears did not have enough strength for that, and as a result, the bulls drove the price up again.
So, back to our question, why do we need the Total Profit Close module in AOTI-EA-Assistance? This module is very useful when we have a task to close all positions:
- before the release of important news,
- when the price approaches key levels,
- if we can no longer monitor the market or want to leave our workspace for business,
and the price has not yet reached the necessary value of profit.
Other examples of using the Total Profit Close module:
For example, when a trading session is coming to an end, some open trades are losing, and some are profitable. At the same time, we do not know how the trading will go during the next trading session. Then we can set the Total Profit value to the desired value and not watch the charts because AOTI-EA-Assistant will close all positions by itself when the Total Profit value we set is reached.
At the end of the workweek, it can also be helpful not to leave open positions for the weekend and close the last working day in profit. Or in the process of trading, there is a situation where a large part of the open positions, at some point, turns out to be unprofitable – this can happen not only for technical but also for fundamental reasons. And in this case, we can set even a minimum level of Total Profit to bring the situation to breakeven.
Another use case, when some of the prices have gone to better values relative to entry levels, we can close the Total Profit and reopen positions at better prices, using the OPEN POS button on the AOTI-EA-Assistant information panel.
You can also come up with your case of applying this feature to your trading style.
Total Profit Close Module Settings
Close All Orders with Total Profit – if ‘true’ closes all positions, when the specified Total Profit Value is reached
Total Profit Value to Close All Orders – a total profit value in the deposit currency, at reaching which all positions opened by AOTI-EA-Assistant will be closed
Deposit Percent Increase to Close All Orders – how many percent should equity increase to close all positions by the AOTI-EA-Assistance
Disable TP and SL Control when ‘Close All’ is Active – if the ‘Close All Orders with Total Profit’ option is activated and ‘Disable TP and SL Control when ‘Close All’ is Active’ is set to true, positions are closed ONLY WITH A TOTAL PROFIT. Simultaneously, the profit and loss levels of individual currency pairs do not affect position closing!
Close Total Profit After NY Session – closing all positions with total profit > 0 after the end of the New York session
How it Works: Video Preview