Stop loss and take profit

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Viewing 15 posts - 1 through 15 (of 15 total)
  • 03/29/2018 at 5:47 AM #66646
    voigtbs

    I need some help please. In my strategy I would like the stop to be 2 pips lower than the low of the previous candle. It is a fixed stop and should not move. The profit should then be my stop loss in pips * 1.5. I just cannot get it right.

    Thank you

    03/29/2018 at 7:40 AM #66651
    Nicolas

    Topic moved to automatic trading forum.

    Below is an example of how to set a stoploss on the Low of the previous candlestick, minus 2 points below it. With an adjusted takeprofit size calculated with the stoploss distance.

     

    03/29/2018 at 8:03 AM #66655
    voigtbs

    Thank you – I appreciate your help

     

    07/07/2018 at 6:35 PM #75542
    Valentin

    Hello Nicolas,

    I hope you are doing well, I tried to implement your code* into my program but it doesn’t work. *I removed the 2 first lines, and instead of putting the SL 2 pips below the low of the previous day, I decided to put it at the lowest price of the 2 last candlesticks.

    The issue I have is that my code closes my trades straight after opening them.

    You can find below your code l implemented after my buying conditions.

    I hope you can help me to fix that!

    Many thanks in advance,

    07/07/2018 at 7:37 PM #75544
    Vonasi

    Remove this part of your code:

    c7 will always return a positive value so it will always sell. You do not need it as the SET instructions will set the stoploss at the lowest low of the two candles at the open of each bar.

    07/07/2018 at 8:13 PM #75545
    robertogozzi

    Lines 6-7-8 will change each bar making your SL and TP mobile, I am not sure it’s what you meant to have.

    07/07/2018 at 8:55 PM #75549
    Vonasi
    robertogozzi wrote:

    Lines 6-7-8 will change each bar making your SL and TP mobile, I am not sure it’s what you meant to have.

    I thought I would answer the first question before waiting for the second question! 🙂

    07/08/2018 at 10:17 AM #75567
    Valentin

    Good morning,

    Thank you both of you for your help !

    And no, I dont want any trailing stop or take profit moving at each bar. I want them settled up once at the opening at the trade and that’s it.

    How can I make this happen please?

    Thank you in advance,

    07/08/2018 at 10:34 AM #75569
    Nicolas

    In order to settle tp and sl one time only, lines 6 to 8 should be placed just after your buy order and in your conditional block.

    07/14/2018 at 1:51 PM #75982
    Valentin

    Bonjour Nicolas, et merci pour l’aide !

    07/14/2018 at 7:46 PM #76008
    GraHal
    Nicolas wrote:

    Below is an example of how to set a stoploss on the Low of the previous candlestick, minus 2 points below it. With an adjusted takeprofit size calculated with the stoploss distance

    Congratulations you have won a prize for being No 50 in GraHal’s Link Library

    The Prize is a BIG THANK YOU to you and all the other contributors to the Link Library
    Snippet Link Library

    07/14/2018 at 8:00 PM #76011
    Vonasi
    GraHal wrote:

    The Prize is a BIG THANK YOU to you and all the other contributors to the Link Library

    Being statistically motivated I just worked out that 31% of the snippets are mine and the next highest contributors are Nicolas and Robertogozzi on 18% each. So 31% of the prize is technically mine. From my analysis of these results I have concluded that I need to switch off the laptop and go and do something else a bit more often. I will start with switching it off and opening a beer. 🙂

    1 user thanked author for this post.
    avatar GraHal
    07/14/2018 at 8:07 PM #76012
    robertogozzi

    Vonasi, you deserve 31% of the prize for snippets, but 62% of empty cans!

    1 user thanked author for this post.
    avatar GraHal
    07/14/2018 at 9:01 PM #76017
    GraHal
    Vonasi wrote:

    From my analysis of these results I have concluded that I need to switch off the laptop and go and do something else a bit more often. I will start with switching it off and opening a beer.

    From seeing the performance of  your Demo account in the last few months when you get it Live we will all give you a big thank you (again) but this time for the beers and party aboard your big new Yacht (pass your old boat to Nicolas and Roberto! ) 🙂

     

    07/14/2018 at 9:21 PM #76020
    Vonasi

    …and now I would say that statistically we are 100% off topic. 🙂

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