Grid orders with one combined stop loss and limit, can it be done?

Forums › ProRealTime English forum › ProOrder support › Grid orders with one combined stop loss and limit, can it be done?

Viewing 15 posts - 31 through 45 (of 307 total)
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  • 05/04/2016 at 2:45 PM #6444
    cfta

    Sorry for the confusion, the key element of the strategy is to for all positions on a symbol to exited once the latent gain hits -1 % so in this case the SL should have been triggered around 10 086, 33 pips below the average price of 10 119. By the way I test the system on a USD 10K account, so the SL is supposed to be 1 % of the account balance…

    I’ll post more about the strategy later today!

    05/04/2016 at 3:51 PM #6455
    Nicolas

    … that’s why I asked many times in our past conversation 🙂 so you need a 1% stop of your account and not setup on price. So our ‘positionprice*0.99’ mean nothing here!

    and since the code will never known how much you have on your account, we’ll have to set it up into a variable too!

    Ok, so the code needs some cleanup, i’ll get back here when I finished some other duties. 🙂

     

    05/04/2016 at 6:51 PM #6467
    cfta

    Great, I look forward to the next update! Again my apologies for the confusion.

    Okay so I spent about an hour writing about my trading plan and then the window closed down for no apparent reason before I was finished and submitted the post so I’ll write a breif version now (on Gmail with autosaving and copy-paste it) and develop it further in the days to come…
    The bottom line is that it does not matter much which system a trader use in terms of which indicators he has on his charts to determine entries and exits. What matters is how a trader applies his system such as ensuring a profitable risk reward ratio in relation to his hit ratio and solid money management. Most retail traders have a hit ratio above 50 % but still lose money since they let losers run and cut winners short due to fear of realizing a loss or missing out on unrealized profits.
    By using the management system we try to code here that problem is eliminated, each loss is limited to 1 % but profits ranges from 1 – 25 % with average profits around 3-5 %. It can be used with virtually any strategy, if you are a scalper set the entry grid orders tighter at 3 or 5 pip intervalls or if trading daily and weekly charts expand the distance between the orders. Either way profits will grow exponentially even from moderate market swings of 100 – 300 pips.
    For my own part I mostly watch 1 and 4 hour charts with support and resistance levels, MACD and heiken ashi candles, that is all I need to determine entries and exits.
    On Monday morning I set the system to go long GBPCAD and has the price took of during the week I made a nice profit of CAD 1 770 and an approximate 16 % profit on a 300 pip move while only risking 1 % ( when the SL works as intended but as we can see on the equity curve it stayed positive all the way with small DD) when I closed the trades manully earlier today.
    Feel free to comment!
    2 users thanked author for this post.
    avatar alwaysauhn, avatar Elsborgtrading
    05/04/2016 at 7:38 PM #6470
    Nicolas

    Thanks for the explanation. I already known how tu use such a system, but I liked to hear it from you 🙂

    You are totally right about tight loss and expandable profit. It’s clever and you deserve my assistance to finish the product. Then it can be adapted to any trend strategy 🙂

    About the distance between orders, an idea would be to adapt it to price volatility, if market go fast, we can reduce the step and add more orders. However it would also move the average position price near the actual price .. but I think we should give it a try!

    05/04/2016 at 9:51 PM #6477
    simon_json

    Just wanted to encourage you, I am following this with excitement. 🙂

    All the best!

    05/06/2016 at 6:24 PM #6528
    cfta

    Thanks for your support Simon.

    You are welcome Nicolas, it is be no means a new and revolutionizing strategy however it still takes som skill to start the system under the right market conditions. If we manage to have both entries, which have been working well already, and the account balance based SL to work properly there are plenty of improvements which can be made.

    One is adaptation to volatility which I guess it would make the most sense to use the average true range of a higher time frame to determine the distance between the grid orders. Another possible feature is to only enter trades when the price is trending using ADX of a higher timeframe.

    I look forward to testing the new and updated code 🙂

    05/10/2016 at 3:02 PM #6690
    simon_json

    Hello friends! Any update here? 🙂

    05/10/2016 at 3:11 PM #6692
    Nicolas

    Hey simon gimme 1 or 2 centuries and i’ll be ready 🙂

    More seriously, I hope I will work on it by tomorrow!

    05/10/2016 at 7:34 PM #6715
    Nicolas

    I’m actually working on it. Please gimme some details about the account balance stoploss, does it needs to move accordingly to how much trades are open? Or do the stoploss needs to be settled once at first trade startup? (sorry if I missed something here, but it’s a bit late and I got an headache 🙂 ) Too much code for today!

    05/10/2016 at 7:48 PM #6717
    cfta

    Great and I happened to go online this very moment!  I’m not certain I understand your question but we want the stop loss to be calculated to equal 1 % of the account balance once the system is initiated and then move accordingly as the system triggers more entry orders. So the SL will move closer and closer to the average entry price to maintain a maximum total loss of 1 % combined for all trades on an instrument.

    For instance on an account with a $ 10 000 balance and a FX lot size 0f 10k (or 1 mini contract with IG) trading EURUSD when entering the first trade the SL should be a 100 pips, when entering the third trade the SL should be 33 pips from the average entry price and when entering the tenth trade the SL should be 10 pips from the average entry price.

    I hope this clears thing up for you, I’ll try to pay attention here so I can reply quickly in case any more questions pop up 🙂

    05/10/2016 at 8:04 PM #6719
    Nicolas

    Ok but there will be a time when the stoploss will be in profit, above the average entry price (for long orders)?

    05/10/2016 at 8:23 PM #6722
    Nicolas

    Look at this picture, in that case we are always loosing the same amount of the account balance, but our stoploss will never be in gain, is that what you got in mind? We are always exit positions at average price of the whole basket minus the amount of points needed to loose 1% of the capital.

    So, is that ok for you, how do you exit in profit? Manually?

    05/10/2016 at 9:02 PM #6728
    cfta

    For the purpose of maintaining a maximum risk of 1 % loss for all trades the SL will never be set above the average entry price (for long orders) once the tenth entry order has been triggered the stop loss will remain static.

    For the purpose of implementing a break even feature the stop loss would be set to equal the average entry price when reaching a certain level of profit.

    For the purpose of locking in profit the stop loss will be set above the average price (for longs) when a certain level of profit is reached.

    So for instance we start a system for going long on EURUSD when the market price is 1.1205, the ordes should be triggered around the following price levels;

    Market price   Average entry    Stop loss

    1.1205              1.1205           1.1105

    1.1225              1.1215            1.1165

    1.1245              1.1225           1.1192

    1.1265              1.1235           1.1210

    1.1285             1.1245            1.1225

    1.1305             1.1255            1.1237   (100 pips profit from first trade, break even is triggered and stop loss set to equal average entry price and then adapts to average entry price when new orders trigger)

    1.1325             1.1265            1.1251

    1.1345            1.1275             1.1263

    1.1365            1.1285            1.1174

    1.1385           1.1295             1.1285  (10th entry order is triggered and the market price is 90 pips above average entry price from this point the stop less is trailing the market price by 90 pips to lock in profit)

     

    The above are suggestions how a break even feature and locking in profit feature may work but the most important thing is the 1 % account balance stop loss so please focus on that and if you are able to add the break even and locking in profit features that is just a big bonus!

    I have had a long day as well and my head is not so clear so I hope this post makes sense 🙂

     

    05/10/2016 at 9:08 PM #6729
    cfta

    I started the last post and then got a phone call so I didn’t see your post with the picture before posting my last one, for the stop loss if think you are right on track and the picture looks like the stop loss is workin as intended, excellent!

    05/10/2016 at 9:57 PM #6735
    Nicolas

    Ok so that’s it. Now I’ll code the sell side of the whole thing and I’ll post it here tomorrow.

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