Breakeven with little gain

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06/11/2016 at 11:02 AM #9234 quote
volpiemanuele
Participant

Veteran
Hello,

i have a strategy that work in EURUSD pair and I want to add a protective stop loss when the current order reach a determinate level o profit. I want to add these protection in addition to traditional stop loss and take profit. Below the code. The strategy work in IG CFD account. It’s correct ?
```
//when the strategy reach a gain of 50$ set the breakeven with a profit of 5$

If LongOnmarket and (close[1]- tradeprice)>= 0.05 then
sell at (tradeprice + 0.005) limit
endif

//when the strategy reach a gain of 50$ set the breakeven with a profit of 5$
If shortONmarket and (tradeprice-close[1])>= 0.05 then
exitshort at (tradeprice - 0.005) limit
endif

SET STOP $LOSS 90
SET TARGET $PROFIT 100
```
06/11/2016 at 5:13 PM #9251 quote
Nicolas
Keymaster

Master
Hi,

I think you should use the instruction PIPVALUE to calculate the real value in money of a pips difference:
```
If LongOnmarket and (close[1]- tradeprice)>= 50/pipvalue then
```
That way, your code will be universal with all traded instruments.

Also, to exit a long position below the actual price, you’ll have to use a STOP order and not a LIMIT one. It is the same to exit a short position (use STOP order instead).
```
exitshort at (tradeprice - 5/pipvalue) STOP
```
06/12/2016 at 11:58 AM #9276 quote

volpiemanuele
Participant

Veteran

Tanks !!!
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Breakeven with little gain

ProOrder: Automated Strategies & Backtesting

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volpiemanuele @volpiemanuele Participant

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This topic contains 2 replies,
has 2 voices, and was last updated by volpiemanuele
9 years, 8 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	06/11/2016
Status:	Active
Attachments:	No files

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