Closing based on profit of all open positions

• 01/19/2017 at 2:33 PM #21679
  kg6450

  I was wondering if it is possible to use the total profit or loss as a way of deciding to exit the market or not.

  For example when the total profit of all open positions equals 100 then close all positions for the day?

  I’ve read the blog post about using strategyprofit and graphing an average of that as a variable but as far as I know that only applies to already closed positions, I was wondering if there as a way to track all positions that are currently open?

  

  kg6450

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  01/19/2017 at 5:55 PM #21727
  Nicolas

  Do you mean all positions of all running automated strategies or only of the current one?

  

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  01/19/2017 at 6:01 PM #21728
  kg6450

  I mean just for the current strategy.

  So for example if the strategy cumulates orders (so there are several positions open at different levels) and the total profit of all positions reaches £100 then the strategy closes for the day

  

  kg6450

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  01/19/2017 at 6:41 PM #21731
  Nicolas

  Do the profit must be already banked or it could be floating profit with trades not closed?

  

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  01/19/2017 at 8:33 PM #21757
  kg6450

  I mean the floating profit from unclosed trades

  

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  01/20/2017 at 2:14 PM #21866
  Nicolas

  It’s clear now, I have not tested this code snippet, but it should work, tell us if it’s ok: (major part of the code come from the Wing’s code here: https://www.prorealcode.com/blog/learning/max-profit-loss-day-trading-strategy/ )

  // ---parameters MaxDailyProfit=100 //Max daily profit allowed (in money) // first time we launch the code, the trading is allowed once TradeAllowed=1 // reset the current state of the strategyprofit each new day If intradaybarindex=0 then MyProfit=STRATEGYPROFIT TradeAllowed=1 endif // test the current floating profit and close orders if needed floatingprofit = (((close-positionprice)*pointvalue)*countofposition)/pipsize //actual trade gains if floatingprofit>=MaxDailyProfit then SELL AT MARKET EXITSHORT AT MARKET endif // test if the strategyprofit of the day is currently above the daily profit allowed of below the daily loss allowed If StrategyProfit>=MyProfit+MaxDailyProfit then TradeAllowed=0 endif // initiate a new BUY order if TradeAllowed=1 and buyconditions then buy 1 lot at market endif

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  // ---parameters MaxDailyProfit=100 //Max daily profit allowed (in money)   // first time we launch the code, the trading is allowed once TradeAllowed=1   // reset the current state of the strategyprofit each new day If intradaybarindex=0 then MyProfit=STRATEGYPROFIT TradeAllowed=1 endif   // test the current floating profit and close orders if needed floatingprofit = (((close-positionprice)*pointvalue)*countofposition)/pipsize //actual trade gains if floatingprofit>=MaxDailyProfit then SELL AT MARKET EXITSHORT AT MARKET endif   // test if the strategyprofit of the day is currently above the daily profit allowed of below the daily loss allowed If StrategyProfit>=MyProfit+MaxDailyProfit then TradeAllowed=0 endif   // initiate a new BUY order if TradeAllowed=1 and buyconditions then buy 1 lot at market endif

   

  

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  01/23/2017 at 10:55 AM #22115
  kg6450

  Thanks so much Nicolas!

  I’m trying to add this to my strategy now, I will let you know how it goes,just one question, the maths there looks like its right, but I am unsure why we divide by pipsize when working out the floating profit. is the calculation the same for CFDs and spread bets etc?

  

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  06/11/2017 at 12:26 PM #38051
  rama

  The the problem with pro real time close takes as close at the end of the current bar.

  say I have profit 40 gbp or usd sometime during the middle of the of bar

  by the time bar closes profit my vanish and go to zero or -40

   

  is there any way to reference current price?

  

  rama

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  06/12/2017 at 1:04 PM #38144
  Nicolas

  @rama

  You can always use the “server” trailing stop which operate between bars: SET STOP PTRAILING 10

  https://www.prorealcode.com/blog/learning/kinds-trailing-stop-proorder/

   

  

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  06/12/2017 at 11:17 PM #38164
  GraHal

  Good question rama!

  When we get multi-timeframe (PRT future release) then a conditions to exit with £x profit could run on 1 second TF whereas the main entry and exit conditions can run on, for example, 30 minutes TF … is this how multi-timeframe will work Nicolas … I’m hoping so! 🙂

  

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  06/13/2017 at 8:16 AM #38176
  Nicolas

  Yes GraHal, once I’ll be able to test it myself, I will tell you 😉

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  Nicolas

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