Hi,
Does anybody know of a PRT trade management tool, one that can perform basic operations for open trades such as setting initial SL and TP, stepping stops, trailing stops and stepping partial closes?
Pending or market orders placed manually, when opened or triggered, the trade manager takes over and manages the trade, that is ideally what I am looking for.
Does anybody know of a PRT trade management tool, one that can perform basic operations for open trades such as setting initial SL and TP, stepping stops, trailing stops and stepping partial closes?
Not sure how it can be helpful, but I am doing that all the time. However :
Pending or market orders placed manually, when opened or triggered, the trade manager takes over and manages the trade, that is ideally what I am looking for.
That can’t exist within PRT (not even sure about elsewhere).
What you would be looking for in fully manual mode is PRT with IB(KR) as broker. That allows you to do all you desire, but thus all manually.
Because with PRT-IB no Autotrading is possible (yet), you’d have to use PRT-IG to do it all manually. The confusing part is : all what can be done manually with PRT-IB and which can not be done manually with PRT-IG, *can* be done with Automatic Trading with PRT-IG.
If you have specific questions – shoot.
Peter
Thanks for your reply, I am on PRT-IG and I did suspect that this might not be possible. It is however possible with other platforms, Visual Trading Console is a commercial utility that works well in conjunction with MT4. My problem with this is that in my opinion MT4 is a pile of crap and would therefore prefer not to use it!
All right. That would mean that you should (try to) move your entries which you planned manually, to the autotrading part. Example of this :
- You see an opportunity BUT will need a minute or so time to prepare (this minute of lag is crucial);
- You change a Parameter to the Strategy which implies (e.g.) the Limit price;
- You start the Strategy ASAP and the first what it does is put this Limit order with the value you gave in the parameter.
- Sit back.
When this one trade is finished, stop the strategy (you can do that manually, or do it from within the Strategy).
Thanks, is this “strategy” available somewhere?
No. But it is super easy to set up, once you have a Strategy to begin with. That part could be harder. But assumed you have one, all you would need is have that Parameter and use it as I descibed.
Below you see a few I use, but they are not used to actively change at starting the Strategy. If you give me a minute or two I can show you that part.
I think that you are asking me if I have a plan (for example “at 20 pips in profit, move stop to breakeven) for managing trades, the answer is yes I do have a trade plan. Are you saying that it would be easy to code this in PRT but I would need to activate it when each trade is opened? I should say at this point that I am not able to write code.
Once EnterLimitDistance = 2
Say that this would be the Limit (distance to the price) of the order we want to let go. This is fixed in the code now. Now make a Parameter of that, which firstly implies this :
// Once EnterLimitDistance = 2 // Is a parameter from now on.
Notice that this normally is used for Optimisation during Backtesting, but today we use ot to make our Strategy dynamical at the start of it.
First screenshot shows the definition of the parameter (never mind the how-to).
Second screenshot shows the start of the Autotrading Strategy and how I change the Limit distance to 1.75 this time.
Of course my code uses that somewhere appropriately (Buy xx at Close + EnterLimitDistance).
I think that you are asking me if I have a plan (for example “at 20 pips in profit, move stop to breakeven) for managing trades, the answer is yes I do have a trade plan.
Haha, I’m afraid I did not ask for a plan to be present (we all have an infinite amount of plans, right ?). No, it is about the code. And even if you would be “capable”, this is the hard part (if you don’t want to lose too much).
Point is : all can be done from within PRT. At least what you asked for. 🙂
Thanks, do you know if there is any person that would be prepared to code my trade plan for me?
That requires a longer answer. And for mine any other.
I will try to give you some context/constraints. So wait … (and let this not hold back others).
First off, I technically could do it. Result guaranteed.
But it is about this last part …
Developing a working strategy takes as much infinite time as infinite ideas emerge along the way. What I’m saying is that your initial idea will not work out and thus workaround, backdoor solutions, new functional applications need to emerge. This is so severe that in practice I won’t be able to do it, unless your pockets are really deep. After that I will be using the strategy I created for you, because it will work, right ? (I am dead serious). Still you were paying me all that money to get it done, and I take double the profit.
You could try to find someone else who works differently. He/she will make you what you wanted, ask a day of work for it (let’s assume it really took a day of work to do it so nothing wrong there), but next you won’t be able to adjust even a single thing because you can’t code. And you can’t learn that really as well. At least not in the time you allowed yourself to do it (think a year to be on some safe side).
All ‘n all you will need someone who is able to support you along the way, and who may see the benefit of the cooperation because he/she will profit on it him-/herself. I don’t think these people are around in this community and I also think that nobody will be able to give you that guarantee of working.
Possibly I see things too black and white.
Thanks, the coding that I am enquiring about is NOT a trading strategy, I enter trades using my brain and that could never be coded!
I am looking for simple code that would manage trades after they have been opened by me, the code should have user inputs for pip values.
This is not a secret and I do not want to keep this private, the real secret is when to actually open trades and in which direction.
An example would be “When trade is X pips in profit, close Y% of the trade” where X and Y are user inputs.
