Overall profit limit/target per day

• 10/06/2016 at 3:42 PM #14397
  KarlTrader

  Hi all, i am new to this forum and still rather new to coding automated strategies.

  I was wondering if it was possible to set a profit/target limit for each day of trading.

  For example within a day i may have numerous trades but do not want to open any more trades once a certain total pipcount/profit or loss is reached. however i do not want to have to restart the program every day. (So that i can use as back test and also have running if i am away, which i am a lot)
  Is this possible and could one of you kind folk show me how.

  many thanks

  

  KarlTrader

  Participant

  Topics: 2

  Replies: 1

  Been thanked: 0 times
  10/06/2016 at 10:58 PM #14411
  Wing

  Example:

  MaxDailyProfit=1000 MaxDailyLoss=1000 once TradeAllowed=1 If time<010000 then MyProfit=STRATEGYPROFIT TradeAllowed=1 endif If StrategyProfit>MyProfit+MaxDailyProfit or Strategyprofit<MyProfit-MaxDailyLoss then TradeAllowed=0 endif if TradeAllowed=1 and buyconditions then buy 1 lot at market endif

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

  MaxDailyProfit=1000 MaxDailyLoss=1000 once TradeAllowed=1   If time<010000 then MyProfit=STRATEGYPROFIT TradeAllowed=1 endif   If StrategyProfit>MyProfit+MaxDailyProfit or Strategyprofit<MyProfit-MaxDailyLoss then TradeAllowed=0 endif   if TradeAllowed=1 and buyconditions then buy 1 lot at market endif

  This will count only closed positions. To count running positions, you need to add the check to you selling conditions, and change ‘strategyprofit’ to ‘strategyprofit+positionperf(0)’. I have not tested this code, but tell me if it works or not.

   

  

  Wing

  Participant

  Topics: 6

  Replies: 159

  Been thanked: 77 times
  10/07/2016 at 1:26 PM #14441
  KarlTrader

  That’s perfect thankyou. I will test it out and let you know the results. Thanks again

  

  KarlTrader

  Participant

  Topics: 2

  Replies: 1

  Been thanked: 0 times
  10/08/2016 at 10:15 AM #14474
  Nicolas

  @Wing

  Thanks, I’ll add this in the blog, since it is commonly requested and your code is great.

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4773 times
• Author
  Posts