Strategy GBPJPY 1H

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  • This topic has 1 reply, 2 voices, and was last updated 2 days ago by avatardruby.
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  • #245470

    Hi,

    I am working on this robot to operate GBPJPY spot in 1H timeframe.

    I found that the TP and SL dont get shoot when they should.

    Also I would like to ask you guys which is the best asset to operate this spot (CFD, Futures,..) (Share the Ticker, if any).

    Thank you all,

    #245473

    When you calculate the SL and TP, they are price levels, not an amount of points from the entry price.

    Change to…

    SET STOP price SL
    SET TARGET price TP

    Also, place them in the entry IF block so they stay at the same level when the entry is made.

    The entry block won’t be executed till it’s not on market again.

     

    I’m not sure if this is exactly why but, when the BUY code is executed, its not deemed ONMARKET till the order has been executed on the open of the next bar.

    I think the new STOP/TARGET are not set till after the entry.

    If a prior set STOP/TARGET levels ends up on the wrong side of the new BUY order level, it will trigger that STOP before it can set the new STOP/TARGET.

    This appears as a entry and exit at the same price. ( when STOP/TARGET orders are in the ONMARKET BLOCK )

    This is why I think the new STOP/TARGET are not set till after the entry, because trade  exits before they can be set.

     

    You have to realise that the prior set STOP/TARGET is the last valid trade that executed right, and the calculated STOP/TARGET levels are now different.

    This is because they were calculated for the new trade, but didn’t get set as new orders, the old STOP/TARGET levels are still in affect.

     

    So if the price is in a down trend , but took a long trade before price fell, the set stop is below the price and you eventually get stopped out.

    If price keeps falling and there a new long entry, the old stop is now above the new entry level, so it gets stopped out immediately before it can set the new STOP/TARGET.

     

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