Stop trading after two consecutive losses in the same day

• 08/22/2017 at 11:48 AM #44351
  Juan Salas

  Hi everyone,

  I am trying to put together a piece of code for a reverse order as a stop loss, and sometimes end it up losing three or four operations in a row in just one day.

  It works most of the times, especially when we have a drastic fall or raise in price (i.e, crude). What I am trying to do is to take advantage of that strength of the market, reverse and follow the trend to mitigate my initial losses. I have check the backtest and there are few occasions when after one of two big candles the market loose strength and become lateral and the operations start going in the opposite/wrong direction.

  I would like to limit these losses to two per day maximum, so can anyone tell me how I could stop the system after two consecutive losses the SAME DAY??????

  Is that even possible??

  Thanks,

  Juan

   

  

  Juan Salas

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  08/22/2017 at 3:55 PM #44368
  Wing

  once TradesToday=0 if time=000000 then TradesToday=0 endif If TradesToday>1 and positionperf(1)<0 and positionperf(2)<0 and onmarket=0 Quit endif // for every trade you make: TradesToday=TradesToday+1

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  once TradesToday=0   if time=000000 then TradesToday=0 endif   If TradesToday>1 and positionperf(1)<0 and positionperf(2)<0 and onmarket=0 Quit endif   // for every trade you make: TradesToday=TradesToday+1

  Something like that?

  

  Wing

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  08/22/2017 at 8:06 PM #44390
  Juan Salas

  Hi Wing,

  It seems perfect. I am going to try it and will let you know the results.

  Thanks so much for your help.

  Juan

  

  Juan Salas

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  Been thanked: 63 times
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