Stop trading for the day if losses are too big without QUIT

Raspberri · 2022-06-30T17:37:53+00:00

Hi all, I am looking for a way to temporarily stop the strategy from trading once losses have reached a certain amount for a certain amount of time without using QUIT and having to restart the strategy again. The strategy runs on a 5min timeframe. The workaround I was trying was to use was to go onto a higher timeframe of 1h and add strategyprofit for the last 3 hours and make “AND NOT pause” a condition to open trades. If strategy profit for the last 3 bars is below a certain number, e.g. -500, it should not open new positions. In my mind, it should then start trading again after a while since strategyprofit[3], [2] and [1] should all be 0. However, this does not work. Does anyone know how to solve the issue? Thanks! timeframe(1 hour, updateonclose) SP3 = strategyprofit[3] SP2 = strategyprofit[2] SP1 = strategyprofit[1] SumSP = p1 + p2 + p3 pause = (SumSP

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06/30/2022 at 6:37 PM #196488 quote
Raspberri
Participant

New
Hi all, I am looking for a way to temporarily stop the strategy from trading once losses have reached a certain amount for a certain amount of time without using QUIT and having to restart the strategy again. The strategy runs on a 5min timeframe.

The workaround I was trying was to use was to go onto a higher timeframe of 1h and add strategyprofit for the last 3 hours and make “AND NOT pause” a condition to open trades. If strategy profit for the last 3 bars is below a certain number, e.g. -500, it should not open new positions. In my mind, it should then start trading again after a while since strategyprofit[3], [2] and [1] should all be 0.

However, this does not work.

Does anyone know how to solve the issue?

Thanks!

<!–more–>
```
timeframe(1 hour, updateonclose)

SP3 = strategyprofit[3]
SP2 = strategyprofit[2]
SP1 = strategyprofit[1]
SumSP = p1 + p2 + p3
pause = (SumSP <= -500)

timeframe(default)
```
<!–more–>
07/01/2022 at 9:17 AM #196510 quote
robertogozzi
Moderator

Legend
Try this one (it will pause 1 hour after a big loss):
```
DEFPARAM CumulateOrders = False
// 
timeframe(1 hour, updateonclose)
ONCE MyProfit = 0
pause = 0
IF Not OnMarket THEN
   MyProfit = StrategyProfit
   SumSP    = StrategyProfit - MyProfit[1]
   pause = (SumSP <= -500)
ENDIF
//
timeframe(default)
IF close CROSSES OVER average[200] AND Not OnMarket AND Not Pause THEN
   BUY AT MARKET
ENDIF
SET TARGET pPROFIT 50
SET STOP   pLOSS   20
graph pause
graph SumSP
```
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07/01/2022 at 10:37 AM #196516 quote

GraHal
Participant

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Link to above added as Log 325 here …

Snippet Link Library

robertogozzi and Andres thanked this post

07/02/2022 at 1:29 PM #196618 quote

Raspberri
Participant

New

This is exactly what I was looking for – thanks! 🙂

07/02/2022 at 2:05 PM #196619 quote
Raspberri
Participant

New
Just a quick question for my understanding: Why are we subtracting MyProfit[1] instead of adding it? If MyProfit is negative, e.g. -100, would using subtraction not lead to SumSP be “higher” than it actually is?

Example:
- StrategyProfit of previous 1h close was -500 -> MyProfit = StrategyProfit[1] = -500
- StrategyProfit = 0
- SumSP = 0 – -500 = 500 instead of -500?
07/02/2022 at 3:16 PM #196628 quote

robertogozzi
Moderator

Legend

The two last GRAPH lines will show the answer.

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Stop trading for the day if losses are too big without QUIT

ProOrder: Automated Strategies & Backtesting

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This topic contains 5 replies,
has 3 voices, and was last updated by robertogozzi
4 years, 3 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	06/30/2022
Status:	Active
Attachments:	No files