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Problem with naming multiple entry/exits
Started: by Big Mike Views / Replies:4,262 / 21
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Problem with naming multiple entry/exits

  #11 (permalink)
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What version are you running ?
There was an issue with multiple exits and this that was fixed in 7.4 (build 5032)
Version 8 may be ok?


Thanks,
Neil.

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  #12 (permalink)
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7.4 4953 - so maybe this was just fixed? (I guess MC doesn't have an autoupdater/checker, right - so I should get used to checking for new versions like I do with TWS...) I will attempt an update when I can take it offline again.

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  #13 (permalink)
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equalizer View Post
I think Contract and Share are equivalent. SetStopContract is for the built-in stop though (which I am using for initial stop loss, but not for my custom trailing stop).

My understanding is SetStopContract modifies behavior of stop loss and profit target orders. Without specifying this reserve word, a single uniform "all out" stop is hit for both stop losses and profit targets, whereas if you do specify it, the stops and targets are unique for each entry order.

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  #14 (permalink)
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Big Mike View Post
My understanding is SetStopContract modifies behavior of stop loss and profit target orders. Without specifying this reserve word, a single uniform "all out" stop is hit for both stop losses and profit targets, whereas if you do specify it, the stops and targets are unique for each entry order.

Mike


Interesting - my understanding was different; I thought it meant that SetStopPosition will mean that the dollar amount fed to SetStopLoss(amount) will be calculated off the entire position, whereas with SetStopContract will mean the amount is the amount lost per contract/share; but that in either case, the entire position will be closed.

That's why I always ended up implementing my own stop order logic for any stops beyond the initial "worst case" stop - because the built-in stop, while easy to use in that it's always calculating every tick without any additional work, will always close out the whole position (and has to be set across the board at all times).

Are you saying it's possible to customize it per order? Perhaps using From Entry("name") could be used with it? I still don't think so though - that's why the included Stop Loss Strategy (only several lines total) can be applied to the chart with any other built-in strategy, because it's always for the whole position.

I hope my understanding is wrong though!

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  #15 (permalink)
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You can't customize it per order. I have an open PM request to address that, but no word yet.

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  #16 (permalink)
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Big Mike View Post
My understanding is SetStopContract modifies behavior of stop loss and profit target orders. Without specifying this reserve word, a single uniform "all out" stop is hit for both stop losses and profit targets, whereas if you do specify it, the stops and targets are unique for each entry order.

I guess I am not sure what you meant by this then. Again, I think it only specifies if the dollar amount is for the whole position, or per contract - not whether it applies to a stop loss vs. a profit taking order. But if I am missing something, it would be pretty important to know the subtleties.

That's great you have an active request regarding customing it per order (by name or id). I too think it would be a pretty important feature.

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  #17 (permalink)
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Tied Exits

Could you provide an example of tied exits (stoploss and profit target) to each of these entries? Tks.

Var: PosNum(0),PosPrice1(0),PosPrice2(0),PosPrice3(0);

switch (PosNum) begin

case 1: Buy ("LE # 1") 1 Contract Next Bar At PosPrice1 Limit;
case 2: Buy ("LE # 2") 1 Contract Next Bar At PosPrice2 Limit;
case 3: Buy ("LE # 3") 1 Contract Next Bar At PosPrice3 Limit;

end;

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  #18 (permalink)
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You cannot tie those exits to each entry as far as I understood (but can set it for the same number of shares per entry). This is one of reasons I ended up migrating to Amibroker, so I am afraid I won't be able to assist further. Perhaps Mike can.

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  #19 (permalink)
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Any Solution?

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  #20 (permalink)
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bomberone1,

a solution to what particular problem in this thread? There might be solutions now.

Regards,

ABCTG


bomberone1 View Post
Any Solution?



Last edited by ABCTG; July 26th, 2016 at 06:50 AM. Reason: To avoid confusion
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