Order Type

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    Posts
  • 12/21/2020 at 12:37 PM #154715 quote
    s00071609
    Participant
    Senior

    Is it possible to have order type that offers variable quantity and fixed $risk? We are talking about pending stop orders. Currently quantity needs to be manually adjusted to a certain level to have x$ risk. As stop loss level changes, how do we have fixed $$ risk and changing quantity and have Stop orders. Unsure if this is even possible. I assume this is a basic risk management technique and PRT not having it would be surprising.

     

    Any workaround if this feature does not exist?

     

    Thannks

    12/21/2020 at 1:21 PM #154721 quote
    robertogozzi
    Moderator
    Master

    No, you have to calculate yourself lot size and SL before placing an order.

    SET STOP %LOSS and SET STOP $LOSS (as well as SET TARGET) may help a bit.

    12/21/2020 at 1:25 PM #154723 quote
    s00071609
    Participant
    Senior

    Hi Roberto

    What do you mean by SET STOP %LOSS. Does PRT allow having a fixed percentage risk per trade and stop order?

    Not sure what you mean by above.

    12/21/2020 at 1:30 PM #154724 quote
    robertogozzi
    Moderator
    Master

    Yes,

    SET STOP %LOSS 0.5

    will calculate SL to be 0.5% of the price https://www.prorealcode.com/documentation/loss/

    12/21/2020 at 1:34 PM #154725 quote
    s00071609
    Participant
    Senior

    Thanks but are you talking about Automated orders?

    I am talking about manual orders?

    12/21/2020 at 1:44 PM #154732 quote
    robertogozzi
    Moderator
    Master

    Yes, sorry.

    I am talking about autotrading.

    12/30/2020 at 4:30 PM #155707 quote
    Sebast
    Moderator
    Average

    Hello,

    In manual trading, you may use the Automatic quantity orders. With this feature you may:

    • Place a limit order associated with a stop-loss at a fixed loss amount
    • Place a limit order associated with a target at fixed gain amount

     

    You will be free to set the orders at the levels of your choice: the quantity will adjust automatically so that your stop-loss (or your target) correspond to the chosen loss (or gain) amount. You may also add a target in the first case or a stop-loss in the second case.

    To add this order type to your trading toolbar, go to Settings > Trading > Trading toolbar and check the corresponding box.

    To choose the amount and whether you want a fixed loss or a fixed gain:

    • Place your cursor on the amount field next to the button Auto Qty
    • Select either Gain or Loss
    • Enter the amount

     

    To place such orders, click on the corresponding button in your trading toolbar (after defining the fixed loss/gain) then place your orders on your chart.

    Best regards,

    Sébastien

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Order Type


Platform Support: Charts, Data & Broker Setup

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s00071609 @s00071609 Participant
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This topic contains 6 replies,
has 3 voices, and was last updated by Sebast
5 years, 1 month ago.

Topic Details
Forum: Platform Support: Charts, Data & Broker Setup
Language: English
Started: 12/21/2020
Status: Active
Attachments: No files
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