Opening multiple positions with profit targets

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

  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

  

  Thally

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  08/10/2019 at 1:57 PM #104521
  Vonasi

  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.

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  Thally

  

  Vonasi

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  08/10/2019 at 2:32 PM #104523
  Thally

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

  

  Thally

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

  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.

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  Thally

  

  Vonasi

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  08/23/2019 at 9:01 AM #105355
  Nicolas

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

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  Thally

  

  Nicolas

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  08/24/2019 at 9:48 PM #105477
  Thally

  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.

  

  Thally

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

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

  

  robertogozzi

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