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Exit Only Strategy ?
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Exit Only Strategy ?

  #1 (permalink)
Elite Member
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Exit Only Strategy ?

hi, is it possible to program an exit only script in Multicharts ? I want to enter the trade manually but then manage it using a pre-defined logic in a script.
thanks in advance for your feedback

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  #2 (permalink)
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Columbus, Ohio, US
 
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Yes, there are predefined exit-only strategies available in MC. You have to be careful though, because if exit strat places an order that you don't like, and you move it, strategy will place it back. Some people end up fighting with their own strategies.

You can also use the automated exits available in the Trade Panel.

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  #3 (permalink)
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Please note that you can't place the multiple target exits simultaneously in MC through power language. If the first target gets filled - it would cancel the other target orders and then resubmits again at the same price ( you would lose the position in the queue).

thanks.

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  #4 (permalink)
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Today MC 7.2 beta was announced. Unfortunately this issue of multi-target order issue is still not addressed in the latest release as well.

Thanks.

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  #5 (permalink)
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I thought that "named orders" was possible now, and you can exit a specific "named" entry point and control exact what position you are exiting, not some sort of FIFO.

Mike

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  #6 (permalink)
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Big Mike View Post
I thought that "named orders" was possible now, and you can exit a specific "named" entry point and control exact what position you are exiting, not some sort of FIFO.

Mike

It is.

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  #7 (permalink)
Elite Member
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Mike - it is still not possible to have simultaneous exit orders with MC.

Basically when the first target order is filled - it would first cancel the other orders and then submit a new order at the same price and would be placed at the end of the queue and there is "absolutely" no work around for this issue at present with any combination of power language code.

For further details - please see the PM request here.

MultiCharts Project Management - Issue MC-454 - Automated Strategy always submits multiple orders as OCO orders - compared to DOM

Thread here:
http://www.multicharts.com/discussion/viewtopic.php?f=1&t=9222&p=43769

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