Different stop losses for longs and shorts

• 01/04/2018 at 3:17 PM #57248
  Nobody

  Just wondering if its possible to have 2 different stop loss strategies in a trading strat for longs and shorts and what is the syntax to acheive this  . lets say this set of parameters for longs

  SET STOP pLOSS 10 SET TARGET pPROFIT 15 SET STOP pTRAILING 20

  1 2 3

  SET STOP pLOSS 10 SET TARGET pPROFIT 15 SET STOP pTRAILING 20

  and this set of parameters for shorts

  SET STOP pLOSS 20 SET TARGET pPROFIT 30 SET STOP pTRAILING 25

  1 2 3

  SET STOP pLOSS 20 SET TARGET pPROFIT 30 SET STOP pTRAILING 25

  Ive had a few shots at it but cant get it working  in anyway

   

  

  Nobody

  Participant

  Topics: 9

  Replies: 192

  Been thanked: 59 times
  01/04/2018 at 3:35 PM #57252
  Vonasi

  You can just set variables say TP and SL within your IF THEN BUY SELL like this:

  IF your conditions THEN BUY 1 Contract AT MARKET TP = 10 SL = 5 ENDIF IF your conditions THEN SELLSHORT 1 Contract AT MARKET TP = 20 SL = 10 ENDIF SET TARGET pPROFIT TP SET STOP pLOSS SL

  1 2 3 4 5 6 7 8 9 10 11 12 13 14

  IF your conditions THEN BUY 1 Contract AT MARKET TP = 10 SL = 5 ENDIF   IF your conditions THEN SELLSHORT 1 Contract AT MARKET TP = 20 SL = 10 ENDIF   SET TARGET pPROFIT TP SET STOP pLOSS SL

   

  1 user thanked author for this post.

  Nobody

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1812 times
  01/04/2018 at 5:28 PM #57268
  Nobody

  Vonasi wrote:

  You can just set variables say TP and SL within your IF THEN BUY SELL like this:

  IF your conditions THEN<br /> BUY 1 Contract AT MARKET<br /> TP = 10<br /> SL = 5<br /> ENDIF</p> <p>IF your conditions THEN<br /> SELLSHORT 1 Contract AT MARKET<br /> TP = 20<br /> SL = 10<br /> ENDIF</p> <p>SET TARGET pPROFIT TP<br /> SET STOP pLOSS SL

  1 2 3 4 5 6 7 8 9 10 11 12 13 14

  IF your conditions THEN BUY 1 Contract AT MARKET TP = 10 SL = 5 ENDIF IF your conditions THEN SELLSHORT 1 Contract AT MARKET TP = 20 SL = 10 ENDIF SET TARGET pPROFIT TP SET STOP pLOSS SL

  Awesome thanks for that , would appear to be perfect for the job at hand , I really appreciate the level of knowledge and generosity in these forums

  

  Nobody

  Participant

  Topics: 9

  Replies: 192

  Been thanked: 59 times
  01/04/2018 at 5:39 PM #57271
  robertogozzi

  Brisvegas, ProOrder won’t allow you to use both STOP orders as in your lines 2-3, line 2 will be immediately overridden by line 3 (since it comes last) and it will not be reported as an error.

  Vonasi‘s code is the correct way to accomplish different SLs and TPs for LONG and SHORT trades.

  Despite not being 100% sure I want to point out that your code

  IF your conditions THEN BUY 1 Contract AT MARKET TP = 10 SL = 5 ENDIF

  1 2 3 4 5

  IF your conditions THEN    BUY 1 Contract AT MARKET    TP = 10    SL = 5 ENDIF

  might modify TP and SL values even when OnMarket, because if your conditions are true the BUY won’t be executed in case you forbade this from happening with DEFPARAM ComulateOrders = FALSE, but all lines will be evaluated and variables set accordingly. So, in case you have some trailing stop code that has previously changed those value, they might be restored to the original ones, thus producing unwanted results.

  I suggest that the above code be changed to

  IF your conditions AND Not OnMarket THEN BUY 1 Contract AT MARKET TP = 10 SL = 5 ENDIF

  1 2 3 4 5

  IF your conditions AND Not OnMarket THEN    BUY 1 Contract AT MARKET    TP = 10    SL = 5 ENDIF

  to make sure that when OnMarket the whole IF…ENDIF block is skipped.

   

   

  2 users thanked author for this post.

  Nobody, GraHal

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17757

  Been thanked: 4409 times
  01/04/2018 at 5:46 PM #57274
  Vonasi

  Thanks for spotting that Robertogozzi. I always use AND NOT OnMarket but left is out for simplification as I always assume that everyone else knows what they are doing!

  Many strategies can be confused by having variables set every time entry conditions are met even if the actual BUY and SELL does not take place due to CumulateOrders = false.

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1812 times
  01/04/2018 at 11:21 PM #57308
  Nobody

  I do know what im doing but i got to say the resources for actually learning this code are very skinny outside this forum  , I am a trader first and then a coder , i have the maths of all this down pat , its just half a line of syntax that slows me down and for the life of me i could find no documentation to assist me  , I only ask here as a last resort unlike some , working it out for yourself is the best way if you can , trust me i have tried to work on some syntax for weeks before asking in here  ..

  

  Nobody

  Participant

  Topics: 9

  Replies: 192

  Been thanked: 59 times
  01/04/2018 at 11:30 PM #57309
  Nobody

  LOL would be great if the people who build the website were as talented as the coders here  . This should be front and centre and in a drop down menu on every page in this site  . I am actually starting a bookmark folder for this place as there is little rhyme or reason to the cataloguing of content  😉       https://www.prorealcode.com/documentation/

  

  Nobody

  Participant

  Topics: 9

  Replies: 192

  Been thanked: 59 times
  01/04/2018 at 11:54 PM #57312
  Vonasi

  Sorry Brisvegas I was not trying to imply that you do not know what you are doing. Sometimes the written word is not the best form of communication. I was actually criticising myself for always assuming too much. As my girlfriend always says Assume makes an ASS out of U and ME.

  Six months ago I spent a week of my life trying to fathom out how SET STOP and SET TARGET worked within a code which is why I happily answered your opening post.

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1812 times
  01/05/2018 at 8:47 AM #57320
  Nicolas

  Brisvegas wrote:

  LOL would be great if the people who build the website were as talented as the coders here  .

  Sorry, I do my best…

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20872

  Been thanked: 4798 times
  01/05/2018 at 9:57 AM #57325
  Vonasi

  Nicolas wrote:

  Brisvegas wrote:

  LOL would be great if the people who build the website were as talented as the coders here .

  Sorry, I do my best…

  ….and your best is very very good even when you are supposed to be on holiday!

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1812 times
  01/05/2018 at 11:17 AM #57338
  jebus89

  is it possible to write the code like this?

  if longonmarket then set stop ploss 50 set target pprofit 50 endif

  1 2 3 4

  if longonmarket then set stop ploss 50 set target pprofit 50 endif

   

  

  jebus89

  Participant

  Topics: 118

  Replies: 587

  Been thanked: 240 times
  01/05/2018 at 12:54 PM #57353
  Vonasi

  jebus89 wrote:

  is it possible to write the code like this?

  if longonmarket then<br /> set stop ploss 50<br /> set target pprofit 50<br /> endif

  1 2 3 4

  if longonmarket then set stop ploss 50 set target pprofit 50 endif

  Yes. The SET instruction just places an order on the market that is in place until the position is closed or until the SET value is set to zero. I just find that having the SET instructions at the end of a code with a variable allows more elegant adjustment of stops and targets.

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1812 times
  01/05/2018 at 12:56 PM #57354
  jebus89

  Thats what i thought Vonasi, thanks for confirming.

  

  jebus89

  Participant

  Topics: 118

  Replies: 587

  Been thanked: 240 times
  01/05/2018 at 11:16 PM #57462
  Nobody

  Nicolas wrote:

  Brisvegas wrote:

  LOL would be great if the people who build the website were as talented as the coders here .

  Sorry, I do my best…

  Sorry Nicolas you do a great job overall no doubt

  

  Nobody

  Participant

  Topics: 9

  Replies: 192

  Been thanked: 59 times
  01/07/2018 at 2:18 PM #57599
  MaoRai54

  Hi everybody,

   

  after many trials of placing the different set for loss&profit in long and short positions, I’ve done the following way and it seems to give backtests with less tick/tick values.

  what do you think?

   

  IF LONGONMARKET AND CLOSE>=(TRADEPRICE+(TPL*PIPSIZE)) OR CLOSE<=(TRADEPRICE-(SL*PIPSIZE)) THEN

  SELL AT MARKET

  ENDIF

   

  IF SHORTONMARKET AND CLOSE<=(TRADEPRICE-(TP1*PIPSIZE)) OR CLOSE>=(TRADEPRICE+(SL1*PIPSIZE)) THEN

  EXITSHORT AT MARKET

  ENDIF

   

  

  MaoRai54

  Participant

  Topics: 35

  Replies: 108

  Been thanked: 16 times
• Author
  Posts