how to set breakeven to price of entry

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10/02/2024 at 1:47 PM #238407 quote
Vicke1990
Participant

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Hi, I want to write a code so that the breakeven is equal to the price the position was bought for. The system buys 2 contracts initially and sells one after X number of pips, I want the breakeven of the second contract to be set at the entryprice + 2 pips so the 2nd contract can follow a trailing stop instead.

When I try with:

if size = 1 then breakevenLevel = entryPrice + PointsToKeep * pipsize Pvalue = breakevenLevel + 2 * pipsize
It sells the 2nd contract based on where to first sell of the 1st contract took place. I want it to be based on the initial postion instead. I´ve also tried with tradeprice (1) instead of entryprice but that seems to refer to the previous latest trade of selling 1 contract instead of the initial price when I bought the position. anyone have any idea on how I can solve this? With kind regards, Victor
10/02/2024 at 3:23 PM #238410 quote
robertogozzi
Moderator

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First you have to store the Entry Price on the first entry bar (which is when it’s OnMarket, but it wasn’t the prior bar). Then SET the stop whenever you have reduced the position size:
```
IF OnMarket AND Not OnMarket[1] THEN
   EntryLevel     = Tradeprice
   BreakEvenLevel = EntryLevel + (PointsToKeep * pipsize)
ENDIF
IF abs(CountOfPosition) < abs(CountOfPosition)[1] then
   SET STOP PRICE BreakEvenLevel
ENDIF
```
Iván González thanked this post
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how to set breakeven to price of entry

ProOrder: Automated Strategies & Backtesting

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Vicke1990 @vicke1990 Participant

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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
1 year, 11 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	10/02/2024
Status:	Active
Attachments:	No files

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