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Take profit on half position
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Take profit on half position

  #1 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
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Take profit on half position

Hi All,

Im trying to figure out how to code taking profit on half my position but am not having much luck.

Essentially what I want is to have an initial hard stop on my whole position. Then when my profit target is reached, take profit on 50% of my position. Then implement a trailing stop on the remainding half of my position.

Also, what if my strategy is running on bar close. How would I go about changing my stops as per above if I dont want to wait till the close of the bar. ie: My entries work on bar close, but I need my stops to be managed 'live'. Is that possible?

Could someone please offer some advice or point me in the right direction.
Thanks.


Last edited by DarkPoolTrading; May 13th, 2012 at 03:42 AM.
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  #3 (permalink)
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I would check the LOM, it is probably the easiest way to do this:

https://futures.io/elite-automated-ninjatrader-trading/15563-njamc-local-order-manager-lom-collaboration.html

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  #4 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
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Thanks Mike, ill check it out.

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