Moving a stop on Trade1 to breakeven when Trade2 is added

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

  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

  

  merc1203

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

  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

  1 2 3 4 5 6

  //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

  1	if countofposition>1 and close-TRADEPRICE(1)>10*pipsize then

   

  

  Nicolas

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  08/12/2016 at 11:27 AM #11610
  smartinick

  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.

  

  smartinick

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  08/12/2016 at 12:38 PM #11612
  Nicolas

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

  

  Nicolas

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