Is there a way to close half of the position as soon as it triggers?

• 06/02/2020 at 12:06 AM #134126
  crolakstrading

  Close half a position when breakeven

  // --- settings amount = 2 //amount of contract/lot/shares to open for each order takeprofit = 30 //takeprofit in points stoploss = 60 //stoploss in points BreakevenAt = 25 //percent achieved of target to move stop to entry (breakeven) PointsToKeep = 1 //how much pips/points to keep in profit above of below our entry price when the breakeven is activated (beware of spread) Lot2Close = 1 //amount of contract/lot/shares quantity to close when breakeven occurs // --- end of settings //reset the breakevenLevel when no trade are on market IF NOT ONMARKET THEN breakevenLevel=0 ENDIF startBreakeven = takeprofit*(BreakevenAt/100)//how much pips/points in gain to activate the breakeven function? // --- BUY SIDE --- //test if the price have moved favourably of "startBreakeven" points already IF LONGONMARKET AND close-tradeprice(1)>=startBreakeven*pipsize THEN //calculate the breakevenLevel breakevenLevel = tradeprice(1)+PointsToKeep*pipsize ENDIF //place the new stop orders on market at breakevenLevel IF LONGONMARKET AND breakevenLevel>0 THEN SELL AT breakevenLevel STOP if countoflongshares=amount then sell Lot2Close contract at market endif ENDIF // --- end of BUY SIDE --- // --- SELL SIDE --- //test if the price have moved favourably of "startBreakeven" points already IF SHORTONMARKET AND tradeprice(1)-close>=startBreakeven*pipsize THEN //calculate the breakevenLevel breakevenLevel = tradeprice(1)-PointsToKeep*pipsize ENDIF //place the new stop orders on market at breakevenLevel IF SHORTONMARKET AND breakevenLevel>0 THEN EXITSHORT AT breakevenLevel STOP if countofshortshares=amount then exitshort Lot2Close contract at market endif ENDIF // --- end of SELL SIDE ---

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  // --- settings amount = 2 //amount of contract/lot/shares to open for each order takeprofit = 30 //takeprofit in points stoploss = 60 //stoploss in points BreakevenAt = 25 //percent achieved of target to move stop to entry (breakeven) PointsToKeep = 1 //how much pips/points to keep in profit above of below our entry price when the breakeven is activated (beware of spread) Lot2Close = 1 //amount of contract/lot/shares quantity to close when breakeven occurs // --- end of settings   //reset the breakevenLevel when no trade are on market IF NOT ONMARKET THEN breakevenLevel=0 ENDIF startBreakeven =  takeprofit*(BreakevenAt/100)//how much pips/points in gain to activate the breakeven function? // --- BUY SIDE --- //test if the price have moved favourably of "startBreakeven" points already IF LONGONMARKET AND close-tradeprice(1)>=startBreakeven*pipsize THEN //calculate the breakevenLevel breakevenLevel = tradeprice(1)+PointsToKeep*pipsize ENDIF //place the new stop orders on market at breakevenLevel IF LONGONMARKET AND breakevenLevel>0 THEN SELL AT breakevenLevel STOP if countoflongshares=amount then sell Lot2Close contract at market endif ENDIF // --- end of BUY SIDE --- // --- SELL SIDE --- //test if the price have moved favourably of "startBreakeven" points already IF SHORTONMARKET AND tradeprice(1)-close>=startBreakeven*pipsize THEN //calculate the breakevenLevel breakevenLevel = tradeprice(1)-PointsToKeep*pipsize ENDIF //place the new stop orders on market at breakevenLevel IF SHORTONMARKET AND breakevenLevel>0 THEN EXITSHORT AT breakevenLevel STOP if countofshortshares=amount then exitshort Lot2Close contract at market endif ENDIF // --- end of SELL SIDE ---

  I have found the above coding from @nicolas which close half the position when breakeven.

  I just wanted to know if there a way to close half the position as soon as it triggered or 1pips in profit?? just to reduce risk straight away!!  appreciate if anyone could help.

  Thanks in advanced

  

  crolakstrading

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  06/02/2020 at 8:07 AM #134146
  Nicolas

  That could be coded but be aware that partial closure of position is still not possible through IG with ProOrder in live trading.

  

  Nicolas

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  06/02/2020 at 9:31 AM #134157
  crolakstrading

  Thank you for your response @Nicolas. above coding shows as its working on IG Pr0Order but i haven’t tried it!
  how can i make this work separately, please.. means breakeven and close half working separately

  let’s say.. 50pips stop loss, 100pips Target and once 50pips in profit stop loss to breakeven!! also when trade triggered and 2pips in profit close half of the position to reduce risk!! i have tried but really need some help.

  breakeven and close half of the position seperately

  defparam cumulateorders = false // --- settings amount = 0.2 //amount of contract/lot/shares to open for each order takeprofit = 150 //takeprofit in points stoploss = 50 //stoploss in points Lot2Close = 0.1 //amount of contract/lot/shares quantity to close when breakeven occurs // --- end of settings // Conditions to enter long positions IF NOT LongOnMarket AND xxxxxx THEN BUY amount CONTRACTS AT EntryPrice STOP if countoflongshares=amount then sell Lot2Close contract at market endif ENDIF // Conditions to exit long positions If LongOnMarket AND short THEN SELL AT MARKET ENDIF // Conditions to enter short positions IF NOT ShortOnMarket AND xxxxxxx THEN SELLSHORT amount CONTRACTS AT EntryPrice STOP if countofshortshares=amount then buy Lot2Close contract at market ENDIF ENDIF // Conditions to exit short positions IF ShortOnMarket AND long THEN EXITSHORT AT MARKET ENDIF // Stops and targets : Enter your protection stops and profit targets here // points based STOP LOSS and TRAILING STOP // initial STOP LOSS SET STOP pLOSS stoploss //set target of positions at 100 points SET TARGET PROFIT takeprofit startBreakeven = 50 //how much pips/points in gain to activate the breakeven function? PointsToKeep = 3 //how much pips/points to keep in profit above of below our entry price when the breakeven is activated (beware of spread) // --- BUY SIDE --- //test if the price have moved favourably of "startBreakeven" points already IF LONGONMARKET AND close-tradeprice(1)>=startBreakeven*pipsize THEN //calculate the breakevenLevel breakevenLevel = tradeprice(1)+PointsToKeep*pipsize ENDIF //place the new stop orders on market at breakevenLevel IF breakevenLevel>0 THEN SELL AT breakevenLevel STOP ENDIF // --- end of BUY SIDE --- // --- SELL SIDE --- //test if the price have moved favourably of "startBreakeven" points already IF SHORTONMARKET AND tradeprice(1)-close>startBreakeven*pipsize THEN //calculate the breakevenLevel breakevenLevel = tradeprice(1)-PointsToKeep*pipsize ENDIF //place the new stop orders on market at breakevenLevel IF breakevenLevel>0 THEN EXITSHORT AT breakevenLevel STOP ENDIF // --- end of SELL SIDE ---

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  defparam cumulateorders = false // --- settings amount = 0.2 //amount of contract/lot/shares to open for each order takeprofit = 150 //takeprofit in points stoploss = 50 //stoploss in points Lot2Close = 0.1 //amount of contract/lot/shares quantity to close when breakeven occurs // --- end of settings   // Conditions to enter long positions IF NOT LongOnMarket AND xxxxxx THEN BUY amount CONTRACTS AT EntryPrice STOP if countoflongshares=amount then sell Lot2Close contract at market endif ENDIF // Conditions to exit long positions If LongOnMarket AND short THEN SELL AT MARKET ENDIF // Conditions to enter short positions IF NOT ShortOnMarket AND xxxxxxx THEN SELLSHORT amount CONTRACTS AT EntryPrice STOP if countofshortshares=amount then buy Lot2Close contract at market ENDIF ENDIF // Conditions to exit short positions IF ShortOnMarket AND long THEN EXITSHORT AT MARKET ENDIF     // Stops and targets : Enter your protection stops and profit targets here // points based STOP LOSS and TRAILING STOP // initial STOP LOSS SET STOP pLOSS stoploss //set target of positions at 100 points SET TARGET PROFIT takeprofit   startBreakeven = 50 //how much pips/points in gain to activate the breakeven function? PointsToKeep = 3  //how much pips/points to keep in profit above of below our entry price when the breakeven is activated (beware of spread) // --- BUY SIDE --- //test if the price have moved favourably of "startBreakeven" points already IF LONGONMARKET AND close-tradeprice(1)>=startBreakeven*pipsize THEN //calculate the breakevenLevel breakevenLevel = tradeprice(1)+PointsToKeep*pipsize ENDIF   //place the new stop orders on market at breakevenLevel IF breakevenLevel>0 THEN SELL AT breakevenLevel STOP ENDIF // --- end of BUY SIDE ---   // --- SELL SIDE --- //test if the price have moved favourably of "startBreakeven" points already IF SHORTONMARKET AND tradeprice(1)-close>startBreakeven*pipsize THEN //calculate the breakevenLevel breakevenLevel = tradeprice(1)-PointsToKeep*pipsize ENDIF   //place the new stop orders on market at breakevenLevel IF breakevenLevel>0 THEN EXITSHORT AT breakevenLevel STOP ENDIF // --- end of SELL SIDE ---

   

  

  crolakstrading

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