Overall profit limit/target per day

KarlTrader · 2016-10-06T14:42:01+00:00

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

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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

Legend

@Wing

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