Breakeven with little gain

• 06/11/2016 at 11:02 AM #9234
  volpiemanuele

  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

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  //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

   

  

  volpiemanuele

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  06/11/2016 at 5:13 PM #9251
  Nicolas

  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

  1	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

  1	exitshort at (tradeprice - 5/pipvalue) STOP

   

  

  Nicolas

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  06/12/2016 at 11:58 AM #9276
  volpiemanuele

  Tanks !!!

  

  volpiemanuele

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