Reducing tradesize after Xpoints from entry

• 12/18/2019 at 4:56 PM #115181
  Benson3

  Hi All,

  I am trying to code a reduction of the tradesize by half when being long/short and the current high/low reaches 20(before 15:00hr) or 40 (after 15:00hr) points. The remaining half will stay in until price closes below/above the lowest/highest point of the last 12 candlesticks. If the required points aren’t reached, but it does close on or above 10 points I want the stop loss to move to break even.

  Additionally, I always want to exit when price closes below/above the lowest/highest point of the last 12 candlesticks or at a loss of 15 points. Whichever is sooner.

  So far, I have come up with this, but it’s a mess:

  AM = time < 150000 PM = time >= 1500000 // Condiciones de salida de posiciones largas c3 = (close < lowest[12](low[1])) c17 = High >= (TradePrice + 20) c18 = High >= (Tradeprice + 40) c21 = close >= (tradeprice + 10) IF LongOnMarket Then Set Stop ploss 15 Endif IF LongOnMarket Then If c21 then Set Stop ploss tradeprice Endif If (AM AND c17) OR (PM AND c18) Then Sell CountOfLongShares/2 contracts at market Elsif c3 THEN SELL AT MARKET Endif Endif // Condiciones de salida de posiciones cortas c6 = (close > highest[12](high[1])) c19 = low <= (TradePrice - 20) c20 = low <= (Tradeprice - 40) c22 = close <= (tradeprice - 10) IF ShortOnMarket Then Set Stop ploss 15 Endif IF ShortOnMarket Then If c22 then Set Stop ploss tradeprice Endif If (AM AND c19) OR (PM AND c20) Then Buy CountOfShortShares/2 contracts at market Elsif c6 THEN EXITSHORT AT MARKET Endif Endif

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  AM = time < 150000 PM = time >= 1500000   // Condiciones de salida de posiciones largas c3 = (close < lowest[12](low[1])) c17 = High >= (TradePrice + 20) c18 = High >= (Tradeprice + 40) c21 = close >= (tradeprice + 10)   IF LongOnMarket Then Set Stop ploss 15 Endif IF LongOnMarket Then If c21 then Set Stop ploss tradeprice Endif If (AM AND c17) OR (PM AND c18) Then Sell CountOfLongShares/2 contracts at market Elsif c3 THEN SELL AT MARKET Endif Endif   // Condiciones de salida de posiciones cortas c6 = (close > highest[12](high[1])) c19 = low <= (TradePrice - 20) c20 = low <= (Tradeprice - 40) c22 = close <= (tradeprice - 10)   IF ShortOnMarket Then Set Stop ploss 15 Endif IF ShortOnMarket Then If c22 then Set Stop ploss tradeprice Endif If (AM AND c19) OR (PM AND c20) Then Buy CountOfShortShares/2 contracts at market Elsif c6 THEN EXITSHORT AT MARKET Endif Endif

  I would appreciate some help.

  Thanks

  

  Benson3

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  12/18/2019 at 5:09 PM #115182
  Vonasi

  Are you aware that currently it is not possible to partially close a position using ProOrder when live trading? It is possible to test with partial closure when running a back test but you cannot put that strategy live in either demo or real trading.

   

  

  Vonasi

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  12/18/2019 at 8:10 PM #115197
  Benson3

  Oh, that’s unfortunate. I have removed that part from the code and replaced it with just a profit target. However, it still doesn’t always do what I want it to do. That is exiting when price closes above or below the highest or lowest price of the last 12 candlesticks and moving the stop loss to break even after closing 10 points or higher from the entry price. Do you have any tips?

  // Condiciones de salida de posiciones largas c3 = (close < lowest[12](low[1])) c21 = close >= (tradeprice + 10) IF LongOnMarket Then If c21 then Set Stop ploss tradeprice Elsif c3 THEN SELL AT MARKET Endif Endif // Condiciones de salida de posiciones cortas c6 = (close > highest[12](high[1])) c22 = close <= (tradeprice - 10) IF ShortOnMarket Then If c22 then Set Stop ploss tradeprice Elsif c6 THEN EXITSHORT AT MARKET Endif Endif SET TARGET PPROFIT 50

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  // Condiciones de salida de posiciones largas c3 = (close < lowest[12](low[1])) c21 = close >= (tradeprice + 10)   IF LongOnMarket Then If c21 then Set Stop ploss tradeprice Elsif c3 THEN SELL AT MARKET Endif Endif   // Condiciones de salida de posiciones cortas c6 = (close > highest[12](high[1])) c22 = close <= (tradeprice - 10)   IF ShortOnMarket Then If c22 then Set Stop ploss tradeprice Elsif c6 THEN EXITSHORT AT MARKET Endif Endif   SET TARGET PPROFIT 50

   

  

  Benson3

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  12/18/2019 at 9:41 PM #115200
  Vonasi

  SET STOP PLOSS requires a distance and not a price.

  Try this (not tested):

  // Condiciones de salida de posiciones largas c3 = (close < lowest[12](low[1])) c21 = close >= (tradeprice + 10) IF LongOnMarket Then If c21 or c3 then sell at market Endif // Condiciones de salida de posiciones cortas c6 = (close > highest[12](high[1])) c22 = close <= (tradeprice - 10) IF ShortOnMarket Then If c22 or c6 then EXITSHORT AT MARKET Endif SET TARGET PPROFIT 50

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  // Condiciones de salida de posiciones largas c3 = (close < lowest[12](low[1])) c21 = close >= (tradeprice + 10)   IF LongOnMarket Then If c21 or c3 then sell at market Endif   // Condiciones de salida de posiciones cortas c6 = (close > highest[12](high[1])) c22 = close <= (tradeprice - 10)   IF ShortOnMarket Then If c22 or c6 then EXITSHORT AT MARKET Endif   SET TARGET PPROFIT 50

   

   

  

  Vonasi

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  12/19/2019 at 10:43 AM #115223
  Benson3

  This immediately exits my position, I just want to move the stop loss to break even. However, on your advice that set stop ploss requires a distance I changed tradeprice with just 0.1 that seems to work. It doesn’t work with 0 for some reason though. Anyway, thanks for your help.

  

  Benson3

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  12/19/2019 at 11:30 AM #115243
  Vonasi

  SET STOP LOSS 0 cancels the stop order.

  When trying to code break even stop losses you have to be aware of how close to price your broker will let you place the stop – and this can change at times of high volatility. So if you are only a few pips in profit and try to move your stop to break even then it is likely that your broker will reject the order – if your strategy tries too many candles in a row then they will stop the strategy and either close the trade or orphan it depending on your settings.

  

  Vonasi

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  12/19/2019 at 5:37 PM #115264
  Benson3

  Ok, I’ll keep that in mind. Thank you

  

  Benson3

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