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How to make program stop trading after it has lost $80?


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How to make program stop trading after it has lost $80?

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  #1 (permalink)
Honolulu + Hawaii / USA
 
 
Posts: 18 since Jul 2014
Thanks: 16 given, 1 received

How to make program stop trading after it has lost $80 for the DAY, so there aren't draw downs that wipe out my account.

I have the code in there to make it stop trading after it is profitable, however when i use "NetLoss" it says it is an unknown symbol

Inputs: Price( Open ),
Length1 ( 15 ),
Length2 ( 20 )
Cts ( 4 ),
TGT ( 100 ),
STP ( 75 );

Vars: ExpAv1 ( 0 ),
PrevNetProfit ( 0 ),
PrevNetLoss ( 0 ),
StopTrading (false),
ROC1 ( 0 );

ExpAv1 = XAverage ( Price, Length1 ) ;
ROC1 = ( PRICE - PRICE[Length2] ) / PRICE[Length2] * 100 ; { RATE OF CHANGE }

if Date <> Date [1] then
begin
PrevNetProfit = NetProfit;
StopTrading = false;
end;

if NetProfit >= PrevNetProfit + 100 then StopTrading = true;

if Date <> Date [1] then
begin
PrevNetLoss = NetLoss;
StopTrading = false;
end;

if NetLoss >= PrevNetLoss + 80 then StopTrading = true;

{Buy or short sell contracts at exponential average crossovers}

if volume > 5000 and ROC1 > 0 and Price[1] crosses above ExpAv1[1] then
begin
buy ( "buy") Cts contracts next bar at market ;

setprofittarget (TGT);
setstoploss (STP);

end;

value97 = text_new ( D, T, ExpAv1, "*" );
text_setcolor (Value97, Cyan);

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  #3 (permalink)
 
 
Posts: 2,230 since Apr 2013
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honoluluhustler,

Netprofit is the total result over all completed trades. A drop in NetProfit of 80 compared to the previously stored value indicates a loss of 80$ (or whatever you use as base currency). That's why there is no NetLoss reserved word.

To access the result of winning trades only, you can use GrossProfit and GrossLoss for the losing trades.

Regards,
ABCTG

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  #4 (permalink)
Honolulu + Hawaii / USA
 
 
Posts: 18 since Jul 2014
Thanks: 16 given, 1 received

Thank you ABCTG for your work.

I have another question. Is it possible to make the trading bot close all positions by a certain time? I plan to use Global Futures and the $500 intraday trading margin and holding a postion past 4:15pm EST results in full margin.

Mahalo,

Honolulu Hustler

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Posts: 2,230 since Apr 2013
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Your are welcome. I have answered here

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ABCTG

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  #6 (permalink)
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@honoluluhustler are you affiliated with Global Futures in any way?

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  #7 (permalink)
Honolulu + Hawaii / USA
 
 
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No I am not

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honoluluhustler View Post
No I am not

What about AMP? Any affiliation?

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  #9 (permalink)
Honolulu + Hawaii / USA
 
 
Posts: 18 since Jul 2014
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Nope.

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Big Mike View Post
What about AMP? Any affiliation?


honoluluhustler View Post
Nope.

OK thanks.

Are you in Hawaii today? Or Chicago?

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  #11 (permalink)
Honolulu + Hawaii / USA
 
 
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Superior, WI visiting family. Live in Chicago. Moving to Hawaii in late August to attend school.

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  #12 (permalink)
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Posts: 49,765 since Jun 2009
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Thank you @ABCTG for sharing your EasyLanguage expertise, as always.

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  #13 (permalink)
Honolulu + Hawaii / USA
 
 
Posts: 18 since Jul 2014
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Understand the concern and appreciate the info on Global. If we keep in touch, look forward to meeting you in person in paradise.

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