only open a 2nd position if the 1st one was a loser?

• 08/14/2019 at 9:03 PM #104757
  Thally

  Hi all,

  Ive encountered a problem for which I cannot find a solution in the manual or in previous forum posts. If I have a strategy that can only open a maximum of 2 trades per day. How would you stop the 2nd position from being opened if the 1st trade was a winner? I.e. I only want to open the 2nd trade if the 1st attempt was unsuccessful.

  I have tried using the

  POSITIONPERF(1)

  1	POSITIONPERF(1)

  function but I don’t think that works because what happens to the very 1st trade of the strategy – i.e. when there is no previous trade to reference?

  Thanks

  Roj

   

  

  Thally

  Participant

  Topics: 25

  Replies: 56

  Been thanked: 8 times
  08/14/2019 at 10:10 PM #104760
  Vonasi

  Compare STRATEGYPROFIT to STRATEGYPROFIT from the bar before and if it is more then set a flag to not trade. At the end of the day reset the flag.

  Something like this:

  if time = 000000 then inprofit = 0 tradecount = 0 endif if strategyprofit > strategyprofit[1] then inprofit = 1 endif if (your entry conditions) and not inprofit and tradecount < 2 then buy 1 contract at market tradecount = tradecount + 1 endif

  1 2 3 4 5 6 7 8 9 10 11 12 13

  if time = 000000 then inprofit = 0 tradecount = 0 endif   if strategyprofit > strategyprofit[1] then inprofit = 1 endif   if (your entry conditions) and not inprofit and tradecount < 2 then buy 1 contract at market tradecount = tradecount + 1 endif

   

  1 user thanked author for this post.

  Thally

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1812 times
  08/15/2019 at 8:21 AM #104765
  Thally

  Thank you Vonsai. That works a treat. Very smart solution!

  

  Thally

  Participant

  Topics: 25

  Replies: 56

  Been thanked: 8 times
• Author
  Posts