Be-nParticipant
Average
I come back an old topic about SET STOP LOSS and I am asking help from my English friends 😉
My question is simple (like my english). Is it possible to use SET STOP LOSS only from the following candle (the candle that follows my position) and make this condition strict ? And forbid to close out on the candle entrance with … SET STOP LOSS. If yes, how ? I hope to be clear.
Thanks in advance and sorry for my approximate english.
PS : This is the post originally published in French (ici)
You have to place SET STOP LOSS 0 to remove any stop loss and place it again when you need it.
Be warned that your broker might rise your margin requirements if not SL is placed when a trade is entered.
Is it possible to use SET STOP LOSS only from the following candle (the candle that follows my position)
If you place the code below as the final / bottom line of your strategy then this will achieve what you need?
I stand to be corrected by the coding Wizards?? 🙂
Set Stop pLoss x
No GraHal, ProOrder will read the whole code before the next candle opens, so, no matter where you place it, it’ll be set. The only workaround is to put it in a IF…ENDIF block so that it is executed after the next candle closes.
This has a main drawback, because when a trade is entered ProOrder will use whatever SL had been set by the prior trade that was entered (and exited), so setting it to ZERO on the first candle is the only way not to have it at all.
Does setting it to zero actually work because it didn’t used to? I seem to recall that we concluded that it was better just to set the stop loss to 100% rather than use zero.
They behave the same, I tried this code on DAX, 1h TF:
FastMA = average[5]
SlowMA = average[20]
MyAvg = average[200]
IF (FastMA CROSSES OVER SlowMA) AND (close > MyAvg) AND not OnMarket THEN
BUY AT MARKET
SET TARGET pPROFIT 100
SET STOP pLOSS 0 //or 10000 or entirely commented out is the same
ENDIF
They behave the same
Maybe you could try setting a stop loss and then setting it to zero one bar later as I seem to recall that this was what would not work for me before. Sorry my platform is closed at the moment and my girlfriend has decided we are having a PRT free evening otherwise I would test it myself!
Be-nParticipant
Average
Thank you for this solution Robertogozzi ! It corresponds to my expectations ! I’m going to shout it in French ! ^^
