Order Type

• 12/21/2020 at 12:37 PM #154715
  s00071609

  Is it possible to have order type that offers variable quantity and fixed $risk? We are talking about pending stop orders. Currently quantity needs to be manually adjusted to a certain level to have x$ risk. As stop loss level changes, how do we have fixed $$ risk and changing quantity and have Stop orders. Unsure if this is even possible. I assume this is a basic risk management technique and PRT not having it would be surprising.

   

  Any workaround if this feature does not exist?

   

  Thannks

  

  s00071609

  Participant

  Topics: 9

  Replies: 133

  Been thanked: 16 times
  12/21/2020 at 1:21 PM #154721
  robertogozzi

  No, you have to calculate yourself lot size and SL before placing an order.

  SET STOP %LOSS and SET STOP $LOSS (as well as SET TARGET) may help a bit.

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17253

  Been thanked: 4115 times
  12/21/2020 at 1:25 PM #154723
  s00071609

  Hi Roberto

  What do you mean by SET STOP %LOSS. Does PRT allow having a fixed percentage risk per trade and stop order?

  Not sure what you mean by above.

  

  s00071609

  Participant

  Topics: 9

  Replies: 133

  Been thanked: 16 times
  12/21/2020 at 1:30 PM #154724
  robertogozzi

  Yes,

  SET STOP %LOSS 0.5

  1	SET STOP %LOSS 0.5

  will calculate SL to be 0.5% of the price https://www.prorealcode.com/documentation/loss/

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17253

  Been thanked: 4115 times
  12/21/2020 at 1:34 PM #154725
  s00071609

  Thanks but are you talking about Automated orders?

  I am talking about manual orders?

  

  s00071609

  Participant

  Topics: 9

  Replies: 133

  Been thanked: 16 times
  12/21/2020 at 1:44 PM #154732
  robertogozzi

  Yes, sorry.

  I am talking about autotrading.

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17253

  Been thanked: 4115 times
  12/30/2020 at 4:30 PM #155707
  Sebast

  Hello,

  In manual trading, you may use the Automatic quantity orders. With this feature you may:

  • Place a limit order associated with a stop-loss at a fixed loss amount
  • Place a limit order associated with a target at fixed gain amount

   

  You will be free to set the orders at the levels of your choice: the quantity will adjust automatically so that your stop-loss (or your target) correspond to the chosen loss (or gain) amount. You may also add a target in the first case or a stop-loss in the second case.

  To add this order type to your trading toolbar, go to Settings > Trading > Trading toolbar and check the corresponding box.

  To choose the amount and whether you want a fixed loss or a fixed gain:

  • Place your cursor on the amount field next to the button Auto Qty
  • Select either Gain or Loss
  • Enter the amount

   

  To place such orders, click on the corresponding button in your trading toolbar (after defining the fixed loss/gain) then place your orders on your chart.

  Best regards,

  Sébastien

  

  Sebast

  Moderator

  ProRealTime

  Topics: 0

  Replies: 24

  Been thanked: 10 times
• Author
  Posts