Set Up in different directions

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  • 10/18/2022 at 4:50 AM #202748 quote
    SM656514
    Participant
    New

    I try to have two set ups in different directions, one Long and one Short. The real trading systems says cannot have conflicting directions. My example is as follows:

    DEFPARAM CumulateOrders = False

    Buy 1 contract at close – 50 Limit

    SellShort 1 contract at close + 50 stop

    Any advise?

    Thank you.

    Tham

    10/18/2022 at 7:07 AM #202750 quote
    robertogozzi
    Moderator
    Master

    You can’t open opposite positions, but you CAN place opposite pending orders.

    If both are triggered, the second one will automatically close the first one.

    In any case, your second pending order is a LIMIT order (not a STOP one, as you are trying to go short at a more favourable price).

    10/18/2022 at 1:42 PM #202779 quote
    SM656514
    Participant
    New

    Thank you, Roberto,

    I make mistakes in the two instructions. I am trying to have setups so that I Long when the price break above a certain level and SHORT when the price break down a certain level. They should be :

    BUY 1 CONTRACT at close + 50 STOP

    SELLSHORT 1 CONTRACT at close – 50 STOP.

    To do so is because I do not know which direction the price will go.

    The trades go through in DEMO. But, the real one reject , no one was triggered, reason being cannot have opposite direction because of risk.

    Your advise please.

    Thank you.

    Tham

    10/18/2022 at 2:10 PM #202783 quote
    JS
    Participant
    Senior

    The orders you use here are pending Stop orders.

    Pending orders must be re-placed at each new bar.

    10/19/2022 at 5:46 AM #202811 quote
    robertogozzi
    Moderator
    Master
    Furthermore, you may have limitations due to limited risk account. Check with the broker.
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Set Up in different directions


ProOrder: Automated Strategies & Backtesting

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SM656514 @sm656514 Participant
Summary

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

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 10/18/2022
Status: Active
Attachments: No files
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