I’m new to Pro Order and am currently trying to find a way around the issue of ProOrder not supporting partial stops.
I’ve tried to place two orders (at the same time) to buy the market at a specific price. The idea, was to the same stop on both orders and different limits. (one would be to go risk free and the other would be a larger limit which would be my runner).
This certainly works on manual trading and was something that I used to do before partial closures were supported for manual trading.
However, I can’t get the same approach to work in ProBackTest / ProOrder. If I place two buy orders at the same price (different quantities) it seems that only one of these orders is actually executed.
Is there some kind of restriction in placing just one order at a time or am I missing a trick here?
I’ve attached the code that’s not working as expected below.
Thanks, Phil.
Trying to create two orders - Same entry level & Stop, different limits/targets
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// First trade is designed with a limit=stop to get risk free
BUY(QtyToTrade*PctProfitToBook)SHARESATEntrySTOP
SET STOPpLOSSPtsStop
SET TARGETpPROFITPtsStop
// Second trade is the runner (same entry / stop but larger limit)
Partial exits only work in back testing at the moment. It is not possible to forward test a strategy on demo with partial exits nor run one live. At the moment we are all limited to having to trade manually if we want a partial exit.
Hopefully PRT will be introducing partial exits in the near future for auto-trading as it has been talked about recently.
On a separate note – in your code you use the SET instruction to set stop loss and take profit levels. Whenever a SET instruction is read in a code it will change the stop loss and take profit distances for all open positions (not just the one it is typed after in the code) to whatever the last SET instruction distance was.
Thanks for your reply. This is already understood (that PRT doesn’t currently support partial stops). I think my first sentence made that clear.
My query related to the work around strategy of using two trades instead. Specifically, whether there is a way to place two separate orders at the same time (same entry price, same pts stop, different quantities and targets).
Is this possible at all with ProOrder? (without using two different systems for the two trades).
Is this possible at all with ProOrder? (without using two different systems for the two trades).
No. You currently have to use two strategies to manage two positions with independent stops and targets because pending LIMIT and STOP orders will sell all open positions and SET orders will set the stop and target distances identical for all open positions.
At the moment it only works in back testing with something like this:
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buy2contractsatmarket
sell1contractatxlimit
sell1contractatylimit
Hopefully PRT will get around to making it work in forward testing and live in the near future.
For now, I will set-up two different systems for the two trades and will converge back into once system once the partials are supported (in realtime ordering).
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