Lock Recovery

What is Lock Recovery?

Lock Recovery is a trading strategy designed to salvage a position that has gone south faster than a sunburnt tourist. Instead of accepting defeat and taking a loss, Lock Recovery employs a cunning technique to lock in the position and manage it back to profitability. Think of it as a financial Houdini act, where the trader escapes the clutches of loss by locking the position and then working to recover it.

Key Features of Lock Recovery

• Manage Open Positions: Allows both buy and sell trades.
• Manage Pending Orders: Option to delete trendlines after opening a position.
• Manage Lot: Select lot type and set a multiplier for Martingale.
• Buy Grid Parameters: Add grid averaging buy only in the direction of the trend.
• Sell Grid Parameters: Add grid averaging sell only in the direction of the trend.
• Change Step Parameters: Enable or disable change step with a lot start and step coefficient.
• Virtual Stoploss and Takeprofit: Manage virtual stop loss and take profit levels.
• Drawdown Reduction: Use auto close partial to reduce drawdown.
• Time Management: Restrict trading hours and days for opening new cycles.
• Autotrade Test: Use auto trade to learn how Lock Recovery works in backtester and real trade.

How Lock Recovery Works

Lock Recovery works by locking a losing position with a counter order. This counter order acts as a stop loss but with a twist. Instead of closing the position and taking a loss, the lock freezes the loss at a certain level. This allows the trader to manage the position back to profitability without the loss growing any further. The key steps involved are:

• Locking the losing position with a counter order.
• Managing the locked position by opening restoring orders.
• Partially closing unprofitable orders to reduce the overall loss.
• Using a grid strategy to average down the position.

Advantages of Lock Recovery

Lock Recovery offers several advantages over traditional stop loss methods:

• Prevents the loss from growing further by freezing it at a certain level.
• Allows the trader to manage the position back to profitability.
• Reduces the load on the deposit by partially closing unprofitable orders.
• Provides flexibility with various settings for different trading scenarios.
• Can be used alongside other Expert Advisors (EAs) to manage drawdowns.

Examples of Lock Recovery Systems

Several trading robots and Expert Advisors employ the Lock Recovery strategy. Here are a few notable examples:

• Lock Recovery EA: This EA is designed to recover positions that have suffered a loss by locking the position and managing it back to profitability. It offers various settings for managing open positions, pending orders, lot sizes, and grid parameters.
• Recovery Manager Pro: This system can recover drawdowns from other advisors or manually opened orders. It uses smart averaging, locking, and partial closing to restore the deposit. It also works in standby mode, taking over order management when another advisor generates a drawdown.
• AW Recovery: This EA locks a losing position, splits it into many parts, and closes each part separately. It offers easy setup, delayed launch in case of drawdown, and various protective functions for risk management.

Tips for Using Lock Recovery

Here are some tips to effectively use Lock Recovery:

• Disable other trading operations when recovery starts to avoid conflicts.
• Test the EA in a strategy tester or demo account before using it live.
• Adjust the settings based on your trading strategy and risk tolerance.
• Be patient, as recovery can take time depending on market conditions.

Conclusion

Lock Recovery is a powerful strategy for managing losing positions and recovering drawdowns. By locking the position and managing it back to profitability, traders can avoid taking a loss and potentially turn a losing trade into a winning one. With the right settings and patience, Lock Recovery can be a valuable tool in any trader's arsenal. 🎯💪