Strategy stop-loss

merc1203 · 2016-06-14T13:34:39+00:00

It appears that the code below only checks the strategy p&l once the current trade is stopped-out? Is that right? Very often, the marked-to-market p&l is less than the “stopout” level but the algo carries on trading until the current position is exited. It seems to be only then that it checks the strategy p&l. I would like it to check the p&l after every change in price and stop trading immediately the “stopout” level is hit. How is this written? Many thanks if StrategyProfit <= StopOut then QUIT endif

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06/14/2016 at 2:34 PM #9387 quote

merc1203
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It appears that the code below only checks the strategy p&l once the current trade is stopped-out?

Is that right?

Very often, the marked-to-market p&l is less than the “stopout” level but the algo carries on trading until the current position is exited. It seems to be only then that it checks the strategy p&l. I would like it to check the p&l after every change in price and stop trading immediately the “stopout” level is hit. How is this written?

Many thanks

if StrategyProfit <= StopOut then
QUIT
endif

06/14/2016 at 2:38 PM #9388 quote

Nicolas
Keymaster

Legend

That’s right, STRATEGYPROFIT is updated with closed trades.

You can use POSITIONPERF to know actual positions PnL.

06/14/2016 at 3:12 PM #9392 quote

merc1203
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Average

So,

strategyprofit + p&l from open positions = realtime p&l

It seems POSITIONPERF is a ratio.

What is the simplest way to convert this into a currency amount for an open position … positionperf*positionprice?

Thanks

06/14/2016 at 3:19 PM #9393 quote
Nicolas
Keymaster

Legend
You can compute the floating profit with this function:
```
//floating profit
floatingprofit = (((close-positionprice)*pointvalue)*countofposition)/pipsize //actual trade gains
```
and add it to STRATEGYPROFIT to get the whole account profit (closed trades + not closed ones).
06/14/2016 at 3:37 PM #9394 quote

merc1203
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Great – thank you Nicolas
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