Stop Trading After Profit/Loss

[cortlane 10]

I have a TS automated strategy (ES Futures) and would like to have a capability to turn off the automation and stop trading for the day once a certain PROFIT (in dollars) or LOSS is reached during the day.

 

I found some code in the TS forums that was suppose to accomplish this but it does not seem to work.

 

Any help/suggestions would be appreciated.

 

The TS forum code is:

 

Variables:

NP( 0 ),

OPP( 0 ),

PLB4Today( 0 ),

ProfToday( 0 ),

PTarget( 2000 ),

LLimit( -660 ) ;

 

NP = NetProfit ;

OPP = OpenPositionProfit ;

 

If date <> date[1] then

PLB4Today = NP[1] + OPP[1] ;

 

ProfToday = NP + OPP - PLB4Today ;

 

If ProfToday >= PTarget or ProfToday <= LLimit then

begin { exit all trades }

Sell this bar close ;

Buy to cover this bar close ;

end

else

begin

 

//Insert the trading code here

[swansjr 10]

I don't know about the code you posted, but I use something along these lines:

 

  If ( date <> date[1] ) Then 
 Begin
    PLB4Today = NetProfit;
   Trade_Flag = true;
 End;

/// Track Today's P&L
NP = NetProfit - PLB4Today;
OPP = OpenPositionProfit;
ProfToday = NP + OPP ;

If  ( ProfToday > Profit_Target$) OR (  ProfToday <= -(Day_Loss) ) Then Trade_Flag = false;

If ( Trade_Flag ) Then
Begin
   // Trade Logic Here
End
Else SetDollarTrailing(0); // Exit all trades if any