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

Thally · 2019-08-14T20:03:54+00:00

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) 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

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

Average
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)
```
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
08/14/2019 at 10:10 PM #104760 quote
Vonasi
Moderator

Master
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
```
Thally thanked this post
08/15/2019 at 8:21 AM #104765 quote

Thally
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Average

Thank you Vonsai. That works a treat. Very smart solution!
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only open a 2nd position if the 1st one was a loser?

ProOrder: Automated Strategies & Backtesting

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Thally @rodger_dodger Participant

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This topic contains 2 replies,
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7 years, 1 month ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	08/14/2019
Status:	Active
Attachments:	No files