Stop / Profit Calculations

November 21st, 2016, 12:49 PM

Hello Traders!

I am fairly new to EasyLanguage, but programming a system to buy based on moving average/volume. I have a block of 5 boolean logic statements that are successive. After the last boolean (i.e. all the filters are true) I have a buy statement which works fine.

My problem is my setstoploss() and setprofittarget() statements. I first put them inside logic blocks (i.e. if marketposition = 1 then setstoploss(1000)

but I was told to leave these statements outside of logic blocks and they will only create orders if I have a position.

Now I have my setstoploss and setprofittarget statements at the very end of my program (outside of any logic blocks) and when I get my buy orders filled I get my stop/profit orders in the queue but they constantly are updated as if they are being calculated on the current price as opposed to the entryprice. I am looking at the Active Orders tab and my stop/profit taking orders keep recalculating/canceling the previous order and creating new ones.

Does this have anything to do with the logic I have above my stop/profit orders? It doesn't appear that my buy orders are constantly being updated (part of the logic is that I can only have one position on, so if currentshares > 0, exit logic).

Any help would be greatly appreciated. Thanks for your time and happy trading!

ABCTG · November 21st, 2016, 01:43 PM

joeyjoeyjoeeey,

it sounds like your code changes the values for the stops and targets and that's why the orders are getting updated. Normally they should stay in place once send. Without knowing your code for the stop and target it's hard to tell, though.

When you use Tradestation the explanation could also be that the stop and target can't be active at the same time and Tradestation switches between them i.e. also activates the one that is closer to the current market.

Regards,

ABCTG

Stop / Profit Calculations

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Stop / Profit Calculations