target profit function
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See taht there are two similar functions for target profit. I know taht this sets a limit X points above the opening price.
set target pprofit ( two p) see attached
and
set target profit (one p)
What is the difference ? And in which circumstances should I use them ?
Also, how can one vary the target once set ( to allow for funding etc.)? Is this possible?
e.g. buy at 100 set target 5 – is limit is 105 say a day later I want to raise this to a target price of 10 to 110 ?
another scenario say I buy at 100 with target 15 i.e. limit 115. I then buy again at 80 – how can i get a target of average price + target, (100+80)=90 +15 =105 set for all purchases ?
SET TARGET PROFIT “value” and SET STOP LOSS “value”, both require a value expressed as price difference (say, close-open[1] or Sma20-high, etc…).
PROFIT and LOSS can also be preceded by some characters:
- p to express the required value in PIPS (SET STOP pLOSS 30*PipSize)
- $ to express the required value in your CURRENCY (whatever it is the symbol is still “$”) (SET TARGET $PROFIT 500)
- % to express the required value in a percentage (SET STOP %LOSS 1.5)
When you accumulate positions you cannot keep individual settings for STOP & TARGET, but there will be only ONE for all positions updated according to an average price named POSITIONPRICE.
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Topic Details
| Forum: | Platform Support: Charts, Data & Broker Setup |
| Language: | English |
| Started: | 03/09/2021 |
| Status: | Active |
| Attachments: | 2 files |