Stopping A System When Profit is Reached

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12/29/2022 at 10:48 PM #206476 quote

Tobias
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New

Hi,

I am new here and I am testing a few systems in forex pairs which is looking good on backtests and I am paper trading currently. For me when a system makes a certain level of expected gains I want to stop it trading. Almost like a take profit but for the system not the trade.

So if it hits its target of say £2000 in a period then I stop the system and I essentially don’t risk it then going on to make losing trades. I would like to setup each system to trade to certain level, stop it automatically then I start it manually when I wish to.

12/30/2022 at 12:42 AM #206479 quote

JS
Participant

Master

Hi @Tobias

You could try something with:

If StrategyProfit >= 2000 then

PositionSize=0

EndIf

The algo then continues to run but no longer places orders…

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12/30/2022 at 9:50 AM #206486 quote

GraHal
Participant

Master

Or you could use Quit
QUIT

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12/30/2022 at 4:28 PM #206535 quote

Tobias
Participant

New

Thanks for this. I suppose with your approach you can also just get it to “close for the day” also. I am a programmer so I am sure I can work it out. Both this and the quit keywork are really useful though thanks. Right now my stratedgy is making money but I think my risk reward ratio is off so I am either missing out on high gains that don’t quite top out then fall or on the other side losses that are obvious “losses” and should not be waiting around for a miracle to happen. I am new to this so will read but if you have any suggestions on this they are most welcome.

12/30/2022 at 6:03 PM #206543 quote

PeterSt
Participant

Master

Tobias wrote:
I suppose with your approach you can also just get it to “close for the day” also.
From another topic, from JS (no credits for me really) :

JS wrote:
You say “I want to keep the codes running” but do you also want your positions to remain open outside of your trading hours? If you also want to close your positions outside your trading hours, you can use: DefParam FlatBefore=090000 DefParam FlatAfter=170000

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