STOP LOSS TO MINIMIZE LOSSES

• 12/16/2022 at 5:35 PM #205914
  OMXet

  Hi

  You all coders ;>)

  I want this to happen in sideways markets to minimize size of losses but my code skills are below par.

  // Stops and targets
  IF pPROFIT   =< 10
  THEN SET STOP pLOSS 0
  ENDIF

  SET STOP pLOSS 50
  SET TARGET pPROFIT 250

   

   

  

  OMXet

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  12/16/2022 at 11:16 PM #205932
  JS

  Hi @OMXet

  Is it the intention that you measure the “Range” of the sideways movement and when it is too narrow / small that you then set your stop loss to zero …?

  

  JS

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  12/16/2022 at 11:32 PM #205933
  OMXet

  Hi

  Noooo, I just want to SET STOP LOSS = 0 as fast as my profit is over 10 points!!!

   

  

  OMXet

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  12/16/2022 at 11:57 PM #205936
  JS

  Hi @OMXet

  You can then use “Close-TradePrice” to see if your profit is larger than 10.
  Instead of “Set Stop pLoss 0” you can set the “Set Stop” to the level of the “TradePrice”… (BreakEven)

  Set Stop Loss

  If Close - TradePrice > 10 then Set Stop Price TradePrice Set Target pProfit 250 Else Set Stop pLoss 50 Set Target pProfit 250 EndIf

  1 2 3 4 5 6 7

  If Close - TradePrice > 10 then Set Stop Price TradePrice Set Target pProfit 250 Else Set Stop pLoss 50 Set Target pProfit 250 EndIf

  2 users thanked author for this post.

  Midlanddave, OMXet

  

  JS

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  12/23/2022 at 3:31 PM #206241
  OMXet

  Thx JS

  Exactly what I was looking for ;>))

  

  OMXet

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