dear Nicolas and Roberto,
I’ve seen a video on Youtube with the money management system of Andrea Carosi. He developed an automatic system that will grant a fixed amount in case of loss but, in parallel, with a parachute to earn enough.
Here I’m trying to summarized it, is there anyone so kind to translate it for PRT ?! Many thanks in advance.
This is based for buy strategy but it should be easily reverted for sell one.
– Period-1: green candle
– Buy order of 1 contract at close price of previous candle
– Place a limit buying order of 1 contract at -Z% below the price of the first order
– Set stoploss at -Y% below the buying price (that must be the half of the amount you want to risk)
– If price will reach +X% above the buying price then sell 0.5 contract and move the stoploss at the buying price and cancel the second buying order
– while if price will go down, it will activate the limit buy order
– then if the price will go up, above the price of the limit order then calculate the average buying price and if it is a gain then sell 1,5 contract (i.e. the first order plus half of the limit order) and move the stoploss at the same price of the limit order
Ok, let me take some time to code it.
THANKS !!!!
If it could be useful for you, you can find the explanation at:
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I deleted the reference because it was advertising to a system.
OK, sorry I didn't think about it.
Moderator @Vonasi reproached me (privately) for speaking Italian in the English forum, for which I often reproach other members. Sorry for such a blunder, I corrected it 🙂
You kindly operate across so many different language Forums that it was bound to happen one day! 🙂
We all forgive you Roberto!
(l’italiano è sempre più bello)😛😛😛
…and strike one for nonetheless too. I think this could turn out to be a high strike day for posting in the wrong language!
We are now going a bit OT!!! 🙂
@MaoRai54
partial closure of positions is not allowed by IG, yet (so you can only make it for backtesting, not for autotrading).
If you want to make it we can only do that by closing ALL open positions at one time.
Let me know the new rules if you want to have it according to the current rules.
Dear Roberto,
many thanks for your reply and explanation.
Maybe I’m wrong but when you launch PRT and you see the home page before starting the program, you see some info at the blue left part of it. At the seventh note it’s mentioning “partial closing”. That’s why I assumed it’s possible.
Yes, PRT allows that and you can use it for backtesting, but IG doesn’t so you cannot run your strategy correctly in AutoTrading.
Thanks Roberto,
but do you think is there any way to skip this limit ?
