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Rooky questionning, Coding a conditionnal entry + a stop loss if done
I'm trying to code my first signal using Multicharts and their is some concept that I dont understand very well.
My broker is IB and orders should reside on their servers
Interogation 1:
Let say I want to send an order like
1- Conditionnal entry: Buy next bar 100 000 @ 1.3978 stop
2- If #1 is done Conditionnal stop loss sell 100 000 @ 1.3968 stop
How will I code it? I would like both orders to be put on IB server at the same time. The 2' orders is conditionnal to the #1 order be executed.
Interogation2:
If the order # 1 is not executed by the end of the bar, do I need to cancel it? or, Cancel both?
Interogation3:
Entry as been done and stop loss as not been reached. In profit and i would like to protect some profit. How do I modify the stop loss price value?, meaning modifying the #2 order
Interogation4:
How do I select the synchronisation mode. I read that this mode will validate each entry to insure a synchronisation between calculated positions and positions on broker server.
Any help greatly appreciated.
Martin
Can you help answer these questions from other members on NexusFi?
Both orders are on the sever during the trigger bar. Both are conditional to your "conditional" entry. The code example below might help. I'll try to get to your other questions later today.
You don't need to modify the original stop lost created by SetStopLoss. You can simply create a new stop loss that trails your profitable trade. Here are two ways.
Thanks many time Jeff. I did have a much better undertanding of the subject
HTML Code:
You don't need to modify the original stop lost created by SetStopLoss.
You can simply create a new stop loss that trails your profitable trade. Here are two ways.
My understanding. All stop is control via your PC. All you need is install new value and software will take care of it.
Have a great day and Happy trading time for the new year to come.