Money management coding help please

K12AN · 2016-06-16T16:40:16+00:00

Hello all I have an idea for a money management plan, but am not able to code it. Would appreciate some assistance :). ATR=AverageTrueRange[14] I take a position on a daily bar – 2 lots Long (or Short) I place a TP for 1 lot at ATR*0.25 and and the other at ATR *0.8 I put a SL for 2 lots at AT4*0.25 Close all open positions/cease all trading at 18:00 The beauty of this is that your loss is limited, and if first TP is triggered we can allow the other 1 lot to run for the rest of the session (unless it is also triggered) and the worse case scenario would be a breakeven in PL if the SL is triggered. QUESTION – If I trigger the first TP, would the SL automatically go to down to 1? Hope I’ve explained it clearing enough – happy to clarify if needed.

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06/16/2016 at 5:40 PM #9462 quote
K12AN
Participant

Junior
Hello all

I have an idea for a money management plan, but am not able to code it.

Would appreciate some assistance :). ATR=AverageTrueRange[14]
1. I take a position on a daily bar – 2 lots Long (or Short)
2. I place a TP for 1 lot at ATR*0.25 and and the other at ATR *0.8
3. I put a SL for 2 lots at AT4*0.25
4. Close all open positions/cease all trading at 18:00
The beauty of this is that your loss is limited, and if first TP is triggered we can allow the other 1 lot to run for the rest of the session (unless it is also triggered) and the worse case scenario would be a breakeven in PL if the SL is triggered.

QUESTION – If I trigger the first TP, would the SL automatically go to down to 1?

Hope I’ve explained it clearing enough – happy to clarify if needed.
06/16/2016 at 7:20 PM #9468 quote

Adolfo
Participant

Senior

Hi K12AN,

ProOrder doesn’t let you exit parcial positions, I suggest you to start 2 systems with 1 contract and different profits.

ANSWER – In 2nd case, if price reach to ATR*0.25 and should run to ATR*0.8, you can move stoploss to breakeven after first target is reached, and let the trade run.

Best Regards!

Nicolas thanked this post

06/29/2016 at 12:57 AM #9978 quote

absent1980
Participant

Average

HI there,

I need some help with coding money management, mainly position size. How to code position size for spreadbetting at ceratain % of available equity/ATR

Thanks.

06/29/2016 at 9:38 AM #9985 quote

Nicolas
Keymaster

Legend

Adolfo has wrote a nice code snippet for money management position size calculation, here in the blog :

http://www.prorealcode.com/blog/learning/money-management-prorealtime-code/

06/29/2016 at 10:50 AM #9988 quote

absent1980
Participant

Average

Thank you, Nicholas. Nice code, already backtesting.
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