Hi there,
I’m new to pro real time. I was wondering if anyone here could help point me in the right direction. I’ll keep it quick and concise out of respect for everyone’s time.
I’m experimenting with a program that sets one straddle trade per session exactly at 9pm. It will set one buy order, 1 percent above market price and one sell order 1% below market price. When either one of these orders are triggered i want it to cancel the other order and set a trailing stop on the one that was triggered.
- I tried to create a work around by pushing one trigger far away when the other one was triggered. For example, if the buy order was triggered it would push the sell order far away. Is there a better way to this? Is there a way to cancel an order when the other order is reached?
- i Get this error code when i try to automate the program: Trading systems with orders that partially close a position cannot be sent to ProOrder. make sure no quantity is specified in instructions to close positions (in this case the instruction closes all the entire position.)”. I have no idea how to fix it 🙂
Any info would be appreciated.
My code:
// Automated Trading System: Straddle Strategy (Friday 9:00PM)
// Set trading parameters
TradeSize = 1 // £1 per pip
TrailingStopPips = 20 // Trailing stop in pips
BuyOffset = 1.01 // 1% above current market price
SellOffset = 0.99 // 1% below current market price
SessionHour = 21 // 9:00 PM
TrailingStopValue = TrailingStopPips * POINTVALUE
// Variables to track order levels
ONCE BuyPrice = 0
ONCE SellPrice = 0
// Ensure code only runs on Fridays
IF DayOfWeek = 2 THEN
// Check if current time is exactly 9:00 PM
IF Hour = SessionHour AND Minute = 0 THEN
// Check if no trades are open before placing orders
IF NOT OnMarket THEN
// Set Buy and Sell order levels
BuyPrice = Close * BuyOffset
SellPrice = Close * SellOffset
// Place Buy and Sell pending orders
BUY TradeSize CONTRACTS AT BuyPrice STOP
SELL TradeSize CONTRACTS AT SellPrice STOP
ENDIF
ENDIF
// Manage trailing stop and move untriggered order far away
IF LONGONMARKET THEN // If a buy trade is open
// Move the untriggered sell order far below the market
SellPrice = Close * 0.5 // Set it at 50% below current price
SELL TradeSize CONTRACTS AT SellPrice STOP
SET STOP TRAILING (TrailingStopValue)
ELSE
IF SHORTONMARKET THEN // If a sell trade is open
// Move the untriggered buy order far above the market
BuyPrice = Close * 1.5 // Set it at 50% above current price
BUY TradeSize CONTRACTS AT BuyPrice STOP
SET STOP TRAILING (TrailingStopValue)
ENDIF
ENDIF
ENDIF
There’s NO need to camcel an order, as all pending untriggered orders are camcelled at the end of each bar.
So, in 1-minute TF, at 09:00 you will place two pending orders. at 09:01 ALL untriggered pending orders will be closed, be it both or just one of them. In the very unlikely case both orders are triggered on the same, the latter one will first close the one that was previously opened, no matter if it was gaining or losing (it’s a Stop & Reverse).
Try this code ( I also added a flag, TradeON, to allow only 1 trade per day):
// Automated Trading System: Straddle Strategy (Friday 9:00PM)
// Set trading parameters
ONCE TradeON = 1
IF LongTriggered OR ShortTriggered THEN
TradeON = 0
ENDIF
IF IntraDayBarIndex = 0 THEN
TradeON = 1
ENDIF
//
TradeSize = 1 // £1 per pip
TrailingStopPips = 20 // Trailing stop in pips
BuyOffset = 1.01 // 1% above current market price
SellOffset = 0.99 // 1% below current market price
SessionHour = 21 // 9:00 PM
TrailingStopValue = TrailingStopPips * POINTVALUE
// Variables to track order levels
ONCE BuyPrice = 0
ONCE SellPrice = 0
// Ensure code only runs on Fridays
IF DayOfWeek = 2 AND TradeON THEN
// Check if current time is exactly 9:00 PM
IF Hour = SessionHour AND Minute = 0 THEN
// Check if no trades are open before placing orders
IF NOT OnMarket THEN
// Set Buy and Sell order levels
BuyPrice = Close * BuyOffset
SellPrice = Close * SellOffset
// Place Buy and Sell pending orders
BUY TradeSize CONTRACTS AT BuyPrice STOP
SELL TradeSize CONTRACTS AT SellPrice STOP
SET STOP TRAILING (TrailingStopValue)
ENDIF
ENDIF
// Manage trailing stop and move untriggered order far away
//IF LONGONMARKET THEN // If a buy trade is open
//// Move the untriggered sell order far below the market
//SellPrice = Close * 0.5 // Set it at 50% below current price
////SELL TradeSize CONTRACTS AT SellPrice STOP
//SET TARGET PRICE SellPrice
//SET STOP TRAILING (TrailingStopValue)
//ELSE
//IF SHORTONMARKET THEN // If a sell trade is open
//// Move the untriggered buy order far above the market
//BuyPrice = Close * 1.5 // Set it at 50% above current price
////BUY TradeSize CONTRACTS AT BuyPrice STOP
//SET TARGET PRICE BuyPrice
//SET STOP TRAILING (TrailingStopValue)
//ENDIF
//ENDIF
ENDIF
@robertogozzi
Thank you for the explanation! Also for adding that flag! Greatly appreciated. Do you have any info or tips regarding the error message that is stopping me from automating my program?
the error:
“Trading systems with a Working Order that partially close a position cannot be sent to ProOrder. Make sure that no quantity is specified in instructions to close positions with Working Order (in this case, the instruction closes the entire position)”.
My fault, I didn’t realize you incorrectly used SELL to enter a short trade. Use:
- BUY to enter a Long trade
- SELL to exit a Long trade
- SELLSHORT to enter a Short trade
- EXITSHORT to exit a Short trade
so you will have to replace line 32 with:
SELLSHORT TradeSize CONTRACTS AT SellPrice STOP
@robertogozzi
Whoops, silly me. Thank you for your help. I owe you one!
