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

Legend

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

Master

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

Legend

Furthermore, you may have limitations due to limited risk account. Check with the broker.
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