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How to take partial profit after breakeven.
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How to take partial profit after breakeven.

  #1 (permalink)
Trading Apprentice
Los Angeles, CA/USA
 
Futures Experience: None
Platform: Multicharts
Favorite Futures: Forex
 
Posts: 3 since Oct 2016
Thanks: 3 given, 0 received

How to take partial profit after breakeven.

Hi All,

Just wanted to know if any of you can help me or point me in the direction to find out how to code the following:

I want to take 50% of my profit as soon as my position has gone 20 pips in my favor after my breakeven has been activated. And would like to know if this can be done on the same bar and not on the next bar.

I am currently using the stops and targets study provided by MultiCharts and its working great, I use a stop loss and a break even once my position has reached the determined amount of pips (in my case 20 pips). What I cannot do and hopefully I can get some help or guidance is how to take 50% of my profit once I my breakeven has been activated (not hit but activated ). I have breakeven activated after 20 pips aswell.


Thank you,

Bryan

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  #2 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,367 since Apr 2013
Thanks: 215 given, 780 received
Forum Reputation: Legendary

bryan1618,

you will have to use your own exit orders for that, as the build in reserved words for exits will only close out the full position. If you want to be able to issue orders on the same bar that a condition is met you will likely also need intrabar order generation.

Start with the answers that you received to your question here: How to take partial profit - MultiCharts Forum For Traders' Community, as they should give you what you need.

Regards,

ABCTG

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The following user says Thank You to ABCTG for this post:
 
  #3 (permalink)
Trading Apprentice
Los Angeles, CA/USA
 
Futures Experience: None
Platform: Multicharts
Favorite Futures: Forex
 
Posts: 3 since Oct 2016
Thanks: 3 given, 0 received

Thank you ABCTG


Thank you ABCTG I didnt know I had a response I will check that out.

Bryan

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