Opening multiple positions with profit targets

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  • 08/10/2019 at 1:22 PM #104519 quote
    Thally
    Participant
    Average

    Hi All,

    Does anyone know whether it is possible to open multiple positions with the same entry condition but with each position having a different take profit target. I see from previous posts that it is not possible to take partial profits on a position. A workaround however would be to take several positions each being a fraction of overall risk and then set different profit targets for each. Does anyone know if this is possible and if it is what syntax I would need to use?

    Thanks in advance for any help
    Roj

    08/10/2019 at 1:57 PM #104521 quote
    Vonasi
    Moderator
    Master
    Rodger Dodger wrote:

    A workaround however would be to take several positions each being a fraction of overall risk and then set different profit targets for each.

    That is partial closure which is not possible in live trading yet but is possible in backtesting.

    If you open three separate long positions with each being a size of 1 then basically it is treated as one position with a size of 3 at the average price of all the opening prices.

    Thally thanked this post
    08/10/2019 at 2:32 PM #104523 quote
    Thally
    Participant
    Average

    Thanks for the quick response. Thats a frustrating limitation. If each new position had subtly different opening conditions then would this be possible?

    08/10/2019 at 3:12 PM #104527 quote
    Vonasi
    Moderator
    Master

    No – they are treated as one position. If you open a position of 1 contract at a price of 1000 and then another later at a price of 2000 then you have a position of 2 at a price of 1500. In back testing we can try out partial closure strategies and we could easily store open trade prices and sizes in a variable to calculate our own separate exit points for each position but we cannot put these strategies live in either demo or real trading unfortunately. It is a feature that is much wished for and I can only assume that it has not been implemented fully due to some issues between the PRT and the broker servers that does not allow it.

    Thally thanked this post
    08/23/2019 at 9:01 AM #105355 quote
    Nicolas
    Keymaster
    Master

    News about partial closure: only available after the IG upgrade to version 11..

    Thally thanked this post
    08/24/2019 at 9:48 PM #105477 quote
    Thally
    Participant
    Average

    Thanks Nicolas. Any idea when that’ll be. I just upgraded my PRT to the premium version to the get the extended data – will be great to know when v11 comes along.

    08/24/2019 at 9:51 PM #105478 quote
    robertogozzi
    Moderator
    Master

    It’s rumoured to come next autumn, nobody knows when exactly.

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Opening multiple positions with profit targets


ProOrder: Automated Strategies & Backtesting

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Thally @rodger_dodger Participant
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This topic contains 6 replies,
has 4 voices, and was last updated by robertogozzi
6 years, 6 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 08/10/2019
Status: Active
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