Moving a stop on Trade1 to breakeven when Trade2 is added

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  • 07/02/2016 at 9:08 AM #10099 quote
    merc1203
    Participant
    Average

    Good morning,

    Any ideas how to write this?

    I would like to build, incrementally, a position in a market. Once a 2nd incremental unit is added, with a stop loss of $x, I would like to move the stop loss of the 1st unit, originally also $x, to breakeven

    Any ideas very much appreciated. Many thanks

    07/04/2016 at 9:41 AM #10167 quote
    Nicolas
    Keymaster
    Master

    Yes, you can have directly access to the previous trade open price with TRADEPRICE.

    So, you need to place your orders exit at this price plus some distance to keep little profit:

    //example for long positions
pointstokeep = 2 

if countofposition>1 then 
 SELL AT TRADEPRICE(1)+pointstokeep*pipsize STOP
endif

    Not tested but it should do the job. Also consider a spread between the last order and the placing of the stop order, for not triggering it too fast (10 points for example) :

    if countofposition>1 and close-TRADEPRICE(1)>10*pipsize then
    08/12/2016 at 11:27 AM #11610 quote
    smartinick
    Participant
    New

    Sorry for reusing this thread, but just a short question that’s fitting on this topping: afaik there’s no way to manage a stop for each single position…? so e.g. i open 5 positions, i can only set one stoploss that is valid for all positions, right…? (off course i can get the tradeprice for each position… but there’s nothing like “set stop(x)”, right?

    do you know if this feature will be coming in 10.3 or 10.4…? (as i’m stuck on IG’s 10.2…)

    Brgds, Martin.

    08/12/2016 at 12:38 PM #11612 quote
    Nicolas
    Keymaster
    Master

    Nope. Each order on market aggregate in a whole big one. It’s called “position centric”.

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Moving a stop on Trade1 to breakeven when Trade2 is added


ProOrder: Automated Strategies & Backtesting

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merc1203 @merc1203 Participant
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This topic contains 3 replies,
has 3 voices, and was last updated by Nicolas
9 years, 6 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 07/02/2016
Status: Active
Attachments: No files
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