[mctaff]

Hi,

I'm just starting to learn Easy Language, yet am having problems with stop loss setting when testing strategies.

Although the stop loss is set in the code, it seems it isn't always acted upon.

Not sure what I'm doing wrong... any ideas most appreciated!

Code sample:

if Condition11 and Condition12 then
begin
Buy 1 contracts next bar at market ;
SetProfitTarget(3000) ;
SetStopLoss( 100);
end;


In the most recent test, the first trade closed $100.78 down, the second is $16,091 down and still open!

Ideally I'd like to set a pip based stop loss (that works!), but it doesn't seem clear how to do this looking at the docs...


Thanks!

[zdo]

What happens if you pull
SetProfitTarget(3000) ;
SetStopLoss( 100);
outside the block?

[Blu-Ray]

Originally Posted by zdo »

What happens if you pull
SetProfitTarget(3000) ;
SetStopLoss( 100);
outside the block?

Yes spot on zdo !

the code should read like this:


if Condition11 and Condition12 then Buy 1 contracts next bar at market ;

SetProfitTarget(3000) ;
SetStopLoss( 100);


Cheers

Blu-Ray

[mctaff]

Thanks for the advice guys, I'll try that this evening.

However, I'd sincerely hope that doesn't work, otherwise I'm questioning the language designers competancy! Surely the idea of a code block is that the entire contents of it get executed when the conditions are met?! I don't want to be setting stop losses etc unless the order has been executed, although I suppose it makes little difference...

Enough ranting, I'll try it out, cheers!

[Blu-Ray]

Originally Posted by mctaff »

Thanks for the advice guys, I'll try that this evening.

However, I'd sincerely hope that doesn't work, otherwise I'm questioning the language designers competancy! Surely the idea of a code block is that the entire contents of it get executed when the conditions are met?! I don't want to be setting stop losses etc unless the order has been executed, although I suppose it makes little difference...

Enough ranting, I'll try it out, cheers!

It will work, the fault in the code is that Easy Language will only read that block of code if Condition11 and Condition12 are true. So it will read it at the time of execution.. but in a couple of bars time, for example, Condition11 and Condition12 are false it will therefore not read that block of code.

Also "SetStopLoss" will only come into force if a Position is filled.

Hope this helps

Blu-Ray

[mctaff]

It worked - thanks again!

I think I must be misunderstanding how the stop loss code works then - I assumed at the time of the order being placed, the stop would be associated with the order. Looking at the code, that clearly can't be the case, as the stop loss command doesn't reference the order.

I'm now slightly confused how to open multiple orders, and have different profit and stop values for different orders!

Is this possible? Is it possible to link the profit / stop commands to the order?

[zdo]

Originally Posted by mctaff »

...I think I must be misunderstanding how the stop loss code works then - I assumed at the time of the order being placed, the stop would be associated with the order. Looking at the code, that clearly can't be the case, as the stop loss command doesn't reference the order.

I'm now slightly confused how to open multiple orders, and have different profit and stop values for different orders!

Is this possible? Is it possible to link the profit / stop commands to the order?

First, 'get it' that (exit) orders are continously 'cancelled' and re-entered in TS.

Then re multiple orders and linking exits to that position
you can name posititions and use the names in the exits
and / or
you can use reserve words like SetStopContract
and / or
run separate / stand alone exit strategies
and / or ...

hth... this post only cost me $3000 so far...

[mctaff]

Originally Posted by zdo »

First, 'get it' that (exit) orders are continously 'cancelled' and re-entered in TS.

Yeah I figured that from the solution. I was under the impression that if you ticked the "send stop to server" checkbox (or whatever it's called) on the strategies automation tab, that you only needed to send it once and it would be held on TS servers - so if I lose my connection I don't lose 10k as well!

Is that not the case? Or does that not work with back testing?

Cheers,

David.