target profit function

• 03/09/2021 at 12:52 PM #163596
  ndm99

  See taht there are two similar functions for target profit. I know taht this sets a limit X points above the opening price.

  set target pprofit ( two p)  see attached

  and

  set target profit   (one p)

  What is the difference ? And in which circumstances should I use them ?

   

  Also, how can one vary the target once set ( to allow for funding etc.)? Is this possible?

  e.g. buy at 100 set target 5 – is limit is 105  say a day later I want to raise this to a target price of 10 to 110 ?

  another scenario say I buy at 100 with target 15 i.e. limit 115. I then buy again at 80 – how can i get a target of average price + target, (100+80)=90 +15 =105 set for all purchases ?

   

  

  ndm99

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  03/09/2021 at 1:06 PM #163601
  robertogozzi

  SET TARGET PROFIT “value” and SET STOP LOSS “value”, both require a value expressed as price difference (say, close-open[1] or Sma20-high, etc…).

  PROFIT and LOSS can also be preceded by some characters:

  • p to express the required value in PIPS        (SET STOP pLOSS 30*PipSize)
  • $ to express the required value in your CURRENCY (whatever it is the symbol is still “$”)    (SET TARGET $PROFIT 500)
  • % to express the required value in a percentage  (SET STOP %LOSS 1.5)

  When you accumulate positions you cannot keep individual settings for STOP & TARGET, but there will be only ONE for all positions updated according to an average price named POSITIONPRICE.

   

  

  robertogozzi

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