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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?

  #1 (permalink)
Trading Apprentice
Honolulu + Hawaii / USA
 
Futures Experience: Intermediate
Platform: TradeStation
Favorite Futures: Gold
 
Posts: 18 since Jul 2014
Thanks: 16 given, 1 received

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

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);


Last edited by honoluluhustler; July 3rd, 2014 at 03:16 AM.
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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
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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)
Trading Apprentice
Honolulu + Hawaii / USA
 
Futures Experience: Intermediate
Platform: TradeStation
Favorite Futures: Gold
 
Posts: 18 since Jul 2014
Thanks: 16 given, 1 received

Thank you ABCTG

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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  #5 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,529 since Apr 2013
Thanks: 230 given, 854 received
Forum Reputation: Legendary

Your are welcome. I have answered here https://futures.io/easylanguage-programming/32206-how-make-program-close-all-positions-4-15pm-est.html#post418413

Regards,
ABCTG

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

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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  #7 (permalink)
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No I am not

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  #8 (permalink)
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honoluluhustler View Post
No I am not

What about AMP? Any affiliation?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #9 (permalink)
Trading Apprentice
Honolulu + Hawaii / USA
 
Futures Experience: Intermediate
Platform: TradeStation
Favorite Futures: Gold
 
Posts: 18 since Jul 2014
Thanks: 16 given, 1 received

Nope.

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  #10 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received



Big Mike View Post
What about AMP? Any affiliation?


honoluluhustler View Post
Nope.

OK thanks.

Are you in Hawaii today? Or Chicago?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

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