Overall profit limit/target per day

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  • 10/06/2016 at 3:42 PM #14397 quote
    KarlTrader
    Participant
    New

    Hi all, i am new to this forum and still rather new to coding automated strategies.

    I was wondering if it was possible to set a profit/target limit for each day of trading.

    For example within a day i may have numerous trades but do not want to open any more trades once a certain total pipcount/profit or loss is reached. however i do not want to have to restart the program every day. (So that i can use as back test and also have running if i am away, which i am a lot)
    Is this possible and could one of you kind folk show me how.

    many thanks

    10/06/2016 at 10:58 PM #14411 quote
    Wing
    Participant
    Veteran

    Example:

    MaxDailyProfit=1000
MaxDailyLoss=1000
once TradeAllowed=1

If time<010000 then
MyProfit=STRATEGYPROFIT
TradeAllowed=1
endif

If StrategyProfit>MyProfit+MaxDailyProfit or Strategyprofit<MyProfit-MaxDailyLoss then
TradeAllowed=0
endif

if TradeAllowed=1 and buyconditions then
buy 1 lot at market
endif

    This will count only closed positions. To count running positions, you need to add the check to you selling conditions, and change ‘strategyprofit’ to ‘strategyprofit+positionperf(0)’. I have not tested this code, but tell me if it works or not.

    10/07/2016 at 1:26 PM #14441 quote
    KarlTrader
    Participant
    New

    That’s perfect thankyou. I will test it out and let you know the results. Thanks again

    10/08/2016 at 10:15 AM #14474 quote
    Nicolas
    Keymaster
    Master

    @Wing

    Thanks, I’ll add this in the blog, since it is commonly requested and your code is great.

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Overall profit limit/target per day


ProOrder: Automated Strategies & Backtesting

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KarlTrader @karltrader Participant
Summary

This topic contains 3 replies,
has 3 voices, and was last updated by Nicolas
9 years, 4 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 10/06/2016
Status: Active
Attachments: No files
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