Confused by Longonmarket & Shortonmarket

• 07/30/2023 at 8:44 PM #218341
  SVK

  Hi all,

  I’m sorry if this is a stupid question and was answered before but I can’t find answer now 🙁

  I’m running 2 strategies on the same instrument (1x Long & 1x Short).

  For long position I’m using “If Not Shortonmarket”
  For short position I’m using “If Not Longonmarket”

   

  I’m doing this in order to prevent one strategy to cancel the other one.

  If I have a long trade (1 point) and I still didn’t hit the profit or stop loss and there is a signal for short, short will sell 1 point canceling my long trade.

   

  Confusion is coming from a realisation that if I use “If Not Longonmarket” in my long strategy I have a higher profit than with “If Not Shortonmarket” command.

   

  Would anyone know why ?

  

  SVK

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  07/30/2023 at 9:25 PM #218342
  GraHal

  Short trades are much harder to be profitable, especially in an uptrend.

  It sounds like the Strategy is opening a short when it would be better to remain in the long trade?

  You could use If Not Onmarket in both Strategies, this would allow trades to exit at TP or SL?

  Are you with IG or IBKR?

  If with IG and using 2 separate Systems then you can be both Long and Short at the same time.

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  SVK

  

  GraHal

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  07/30/2023 at 9:57 PM #218343
  SVK

  Hi Grahal,

  I didn’t explain it well enough.

  Lets forget about short trades for a minute 🙂

   

  Long strategy EUR-USD (there is no hint of short set up in this strategy, purely long)

  If I use “IF Not Longonmarket” my profit = £544

  If I use “IF Not Shortonmarket” my profit = £333

   

  Now I have tested “Not onmarket” my profit = £544 (same as if I use Not Longonmarket)

   

  Are you sure that if I use “Not onmarket” Long isn’t going to cancel Short and vice versa ?

   

  I don’t want to have 2 trades in oposite directions as I want one to play out before other trade is placed.
  Yeah markets are only UP especially S&P500 (can’t wait for hard landing).

  

  SVK

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  07/30/2023 at 10:13 PM #218344
  JS

  Hi SVK,

  You know that two separate systems can’t communicate with each other…?

  They can never know the position of the other system…

  

  JS

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  07/30/2023 at 10:41 PM #218345
  SVK

  Hi JS,

   

  I read that but if I remmember correctly I had long postion closed by Short strategy executing trade ending up with no trades open.

  Now I don’t want to lie to you as I can’t remember if that was on life account or demo.

   

  I’m using IG and even with manual trading if I execute short trade while I have open long condition I end up with just Long being closed.
  I know there is a function Force Open but I’m not really interested to have new short position open while I’m long.

  So while strategies are independent from each other I can’t see how I’m going to end up with Long being still ON while short not being executed despite the signal.

   

  I’m happy to use “not onmarket” as long as I’m not going to end up with Long closed and Short not being On.

  I hope that it makes sense 🙂

  

  SVK

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  07/30/2023 at 11:06 PM #218346
  JS

  Hi SVK,

  I believe you… but that can never be the result of two communicating systems…  (Live or Demo)

  It can of course matter, in a stand-alone system, whether you use “NOT LongOnMarket” or “NOT ShortOnMarket”, because in a LONG system “NOT ShortOnMarket” will always be true and therefore certain calculations will be performed that are not performed at “NOT LongOnMarket”… there can be a difference…

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  GraHal

  

  JS

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