individual stop and target for multiple trades

May 4th, 2013, 02:05 AM

I am having trouble setting an individual stop loss and target if I'm having multiple open positions in Multicharts.

My logic is a simple trend following one where I accumulate my position if my first trade is in the money (50 points in this case)

Please advise on my following logic

if ema > ema[1]
long trade1

if (close - entryprice) > 50 then
long trade2

// manage positions

if currentcontract = 1
set trade1 target
set trade1 stop

if currentcontract =2
set trade1 target
set trade1 stop
set trade2 target
set trade2 stop

But the above codes do not seem to work. My orders always get exited or stopped at the trade1 target or stop. I just can't exit my positions individually.

Jura · May 7th, 2013, 09:12 AM

sunsun

My orders always get exited or stopped at the trade1 target or stop. I just can't exit my positions individually.

Have you seen QuantArb's code example from yesterday that deals with this exact problem?

tracking each contract's profit target and stop loss

if condition1 then
begin
Buy ("Entry 1") 1 contract next bar at market;
end;

if MarketPosition * Current Shares =1 then
begin
Buy("Entry 2") 1 contract next bar at EntryPrice +50 Stop;
end;

if MarketPosition =1 then
begin
Sell …

individual stop and target for multiple trades

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individual stop and target for multiple trades