Initial stop loss and a profit target for two separate setups doesn’t work

• 04/15/2021 at 8:09 PM #167198
  Sascha

  Hi,

  How can I code two separate setups, one with only an initial stop loss  and the other with an initial stop loss and a profit target.

  When I create the code like below what happens is that Setup 1 which has only an initial stop loss (and some other exit rules that are not below), exits with the profit target that I defined for Setup 2. It seems like once a profit target is defined it is applied to any open trade. Why is that?

  Can I code it in a way that the profit target is only applied for the trade setup 2?

  Thanks

  Sascha

  Two Setups

  if Setup1 then ISL = 10000*(1*ATR + SBuffer ) TradeRisk = pipvalue*ISL ContractSize = 100/TradeRisk SELLSHORT ContractSize SHARES AT market SET STOP LOSS 1*ATR + SBuffer ENDIF if Setup2 then ISL = 10000*(1*ATR + SBuffer ) TradeRisk = pipvalue*ISL ContractSize = 100/TradeRisk SELLSHORT ContractSize SHARES AT close+0.25*ATR Limit SET STOP LOSS 1*ATR + SBuffer SET TARGET PROFIT 1.5*ATR + SBuffer ENDIF

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

  if Setup1  then   ISL = 10000*(1*ATR + SBuffer ) TradeRisk = pipvalue*ISL ContractSize = 100/TradeRisk SELLSHORT ContractSize SHARES AT market   SET STOP LOSS 1*ATR + SBuffer ENDIF   if Setup2  then ISL = 10000*(1*ATR + SBuffer ) TradeRisk = pipvalue*ISL ContractSize = 100/TradeRisk SELLSHORT ContractSize SHARES AT close+0.25*ATR Limit   SET STOP LOSS 1*ATR + SBuffer SET TARGET PROFIT 1.5*ATR + SBuffer ENDIF

   

  

  Sascha

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  04/16/2021 at 8:32 AM #167230
  Nicolas

  There is no way to identify the orders with code. What you can do is partial closing of position in profit at a desired level with a pending order, example  below:

  exitshort 1 contract at mylevel limit //mylevel is your desired price level

  1	exitshort 1 contract at mylevel limit //mylevel is your desired price level

   

  

  Nicolas

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  04/16/2021 at 2:55 PM #167268
  Sascha

  Thanks for your reply.

  That’s unfortunate that this is not working. The goal was that I wanted to have one setup once triggered lets the trade run as long as possible until stopped out with a predefined trailing stop loss. And a second setup that exits with a fixed profit target, and having both setups in one automated trading system.

  However, it seems that the solution is only to have two separate trading systems. One with a trailing stop loss and the other with a fixed profit target. The annoying thing is that if I want to run this system on 8 currency pairs, then I have to have 16 systems instead.

  I mentioned before that I had the impression that once a profit target is defined (like it is Setup 2 in the example code) it is applied to any open trade. How is that technically possible?

  If only the conditions for Setup 1 are me (which has no profit target) and the conditions for Setup 2 are not met, how can the profit target be even triggered as it is only within the if-clause of Setup 2?

  

  Sascha

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  04/17/2021 at 9:28 AM #167307
  Nicolas

  Because the Takeprofit is applied directly to any open order, there is no way to select an order specifically.

  

  Nicolas

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