Calculate Position Size based on fixed risk (ie. $100)

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  • #144839 Report

    Hi,

    In the attached code I tried to calculate the position size based on a fixed risk of $100 with a profit target of $200. But for some reason it sometimes does it correctly and sometimes it doubles the position size which then for a losing trade causes twice as the defined loss (-$200) and also gets twice the profit (+$400) in case of a winning trade. This happens for long and short trades. I tested it on AUDUSD.

    I thought the code is correct (see line 105-132 and line 216-254) but there must be a mistake that I can’t see it.

     

    The second problem is, that when there is a long position and then a new short position is triggered, the long position will be closed. How can I avoid that?

    Thank you.

    Sascha

    Attachments:
    1. Decision.itf
    #144884 Report

    Hi,

    This is the part of the code that should calculate the position size.

    If anyone can find the mistake, I would be very grateful.

    What it should do, is simply use the current close and the lowest low of the last two days as the initial stop loss (for a long trade) and use twice that risk as a profit target.

    Thanks.

    #144886 Report

    I don’t see any reason why it doubles the contract size. Are you sure you have set the cumulating orders to false?

    In order to not order a contrarian order while you are already at market, just add “AND NOT ONMARKET” in your conditions lines 3 and 16.

    1 user thanked author for this post.
    #144888 Report

    Thank you Nicolas for your quick reply. You’re a genius. I indeed still had set the cumulating orders to True. It’s now not doubling anymore the position size.

    Regarding a contrarian order: How can I allow a contrarian order to be placed without closing the existing order?

     

    #144893 Report

    It is not possible to hedge position with ProOrder sorry. The only possibility is to divide your strategy into 2 separated ones, 1 for buy orders and 1 for sellshort orders.

    1 user thanked author for this post.
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