Hi Everyone!
I’m revisiting an old topic! Here’s a thread from 2018 which I red through yesterday. To my knowledge I also noticed that some of the things discussed in this thread has been resolved or upgraded with the ProRealTime alarm functionality. For instance: you can make an entry manually and then you apply your exit strategy with your own algorithm to exit automatically based on any desirable trigger you want with the alarm feature. This is great! However, I have some questions about doing the same thing in the ProOrder system. Here’s the link to the old thread and below you will find my concern/question
Manual entry with Automated exit?
Maybe it’s a simple yes or no answer to my question, but why can’t I do the same in the ProOrder system? If I already have an open position, which I entered manually, Is there a way to activate my exit algorithm in ProOrder so that it closes my position automatically?
Below you will find a print-scr from the sellshort section in ProOrder with a text which I interpret as “open long positions” will be closed. So if I already have an open long entry, should that be closed first by using this functionality?
“Conditions to enter short (or selling) positions. Existing open long (or buying) positions will be closed first.”
ProOrder cannot deal with orders entered manually, as it doesn’t even know about their existance!
You can only modify or close, manually, trades opened by ProOrder, but the strategy that opened those trades will be shut down and you will have to launch it again in autotrading if you still need it.
Nothing has changed … nearest you are going to get to what you want is to use the Alert function with associated Sell Order.
The least you could do is have the Autotrading System automatically open a position in the opposite direction with the exact same amount and at the price level you would like to exit the original trade. Now the original trade will be virtually closed (what the one will gain, the other will lose).
When you are fed up with observing the situation, close both – close the manual one, and kill the Autotrading one. The additional option would be that in Settings you tell that a close Autotrading system will not close its (possible) position, and when fed up after killing the Autotrading System once it runs, you can cross away both now manual trades subsequently.
Let me know if I have been over-creative. 😉
The other means won’t work “over trades” or systems. At least not that I know of, looking at my several systems and trades which all run together on the same Instrument; they won’t bite each other, which means that you can’t achieve what you want as per your suggestion and hope.
Regards,
Peter
Well, thanks for the straight answer on that one! Yeah, maybe a bit over creative with holding both long and short position entries 😉
I’ll continue down the patch with alarm triggered entries. Doing that, I wont have any restrictions of on using more than 10k units of historical data. Hmmm, I just need to restart the program a few times a day/night. It’s a great software tool but I’m not at all fond of all restrictions setup in the tool. Realistically, there are many limitations in the tool which makes it difficult to perfecting and a creative and comprehensive automated trading system.
What about a pro version? Is there any way to remove some of these restrictions by Pro subscribing?
Thanks Patrik
