How to set up a daily stop loss?

May 2nd, 2013, 03:01 AM

Hi I'm having difficulties writing codes with Multicharts.
I am running data of over a few months and I am trying to set up a stop loss for the day.
Since the program is running continuously, I am trying to figure out how to reset the stop loss for the next day if I am stopped out today.
Is there a function in Multicharts that allows me to set up a daily stop loss?

Thanks a lot

May 2nd, 2013, 03:29 AM

if Date <> Date[1] then
begin
//Enter Daily Stop Loss logic
end;

May 3rd, 2013, 05:12 AM

Thank you so much for the reply

May 3rd, 2013, 05:17 AM

Does anyone have or have seen code for NT for a daily stop? Something that would check the account equity of whatever account and make sure your not over your daily?

Spent hours searching one day, the gave up....this just reminded me....thanks!

Cheers,

XS

May 6th, 2013, 09:19 PM

Here's the code for a daily stop in NinjaTrader in $:

if (Time[0].Date!=Time[1].Date)
{
sodEquity=Performance.AllTrades.TradesPerformance.Currency.CumProfit;
}

openEquity = Positions[1].GetProfitLoss(Closes[1][0],PerformanceUnit.Currency);
currEquity = Performance.AllTrades.TradesPerformance.Currency.CumProfit;

if((currEquity+openEquity)-sodEquity<=dailyStop)
Do something

I hope this help.

May 15th, 2013, 04:38 PM

Virtuose1

Here's the code for a daily stop in NinjaTrader in $:

if (Time[0].Date!=Time[1].Date)
{
sodEquity=Performance.AllTrades.TradesPerformance.Currency.CumProfit;
}

openEquity = Positions[1].GetProfitLoss(Closes[1][0],PerformanceUnit.Currency);
currEquity = Performance.AllTrades.TradesPerformance.Currency.CumProfit;

if((currEquity+openEquity)-sodEquity<=dailyStop)
Do something

I hope this help.

Merci beaucoup!

December 9th, 2015, 05:14 PM

Hi, I am also looking to set up some sort of way to limit my max daily loss as I am just starting out and want to
find a way to help protect myself from aggressive over trading. Obviously it would be ideal if self discipline was enough
but that's in development and improving all the time. Can anyone explain what I would do with this code to implement it please ? Many thanks

Jura · December 13th, 2015, 08:56 AM

Morpheous2005

Hi, I am also looking to set up some sort of way to limit my max daily loss as I am just starting out and want to
find a way to help protect myself from aggressive over trading. Obviously it would be ideal if self discipline was enough
but that's in development and improving all the time. Can anyone explain what I would do with this code to implement it please ? Many thanks

Not possible, sorry. Of course you can code an alert pop-up, sound alert, or something else when your daily loss has been reached. But if the problem is with self-discipline then you probably aren't that impressed with an alert or something else.

How to set up a daily stop loss?

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How to set up a daily stop loss?