• Registered: 2020-07-07
  • Posts: 22

Topic: Question about TP and SL

So I've created an EA that keeps opening positions as long as the conditions are met which is great but every time it opens a new position it bumps the TP and SL accordingly which is fine but at some point after opening "X" amount of positions I'd like for the TP and SL to stay stationary because sometimes it'll get so close to hitting the target just to open a new position in the same direction sending the TP far away, and sometimes it never reaches the new target only to get stopped out when I'm toting around multiple full lots. I'm guessing other than custom code there is no way to achieve this within FSB?
It'd be nice to set something like if current open position amount is "X" set TP/SL to the same as previous position

  • footon
  • footon
  • ◄≡≡≡►
  • Offline
  • Registered: 2009-08-17
  • Posts: 2,969

Re: Question about TP and SL

If I understand you correctly (I don't know your strategy), then factually there are no new positions but additional entries. It is adding to the first position, it is regarded as one trade/position and therefore SL/TP get adjusted accordingly. You can change the behaviour by dropping additional entries and use logical groups instead. Maybe. Post your strat and objective, then it's easier to give advice.

  • Registered: 2020-07-07
  • Posts: 22

Re: Question about TP and SL

Yes you are correct it adds to an already open position which i like and bumping up the TP/SL accordingly is good to a point. But once there is "X" number of lots open lets say, I'd like for it to stop adjusting the TP and SL but if the the signal occurs to remain adding to the position until it either hits the target (hopefully) or gets stopped out. Or maybe for each additional position higher(lower if you're shorting) than the original to adjust the TP slightly less by a percent but that might be asking too much

Also it would be really nice if we could add a trailing SL as an exit condition in addition to say "Bar closing" or "week closing" ect, I don't see any reason why this couldn't be done and both being able to be selected as an exit condition

Here is the logic for the EA

4 Reply by Grifter (edited by Grifter 2020-07-09 00:20:42)

  • Registered: 2020-07-07
  • Posts: 22

Re: Question about TP and SL

Wouldn't allow me to copy&paste the logic, here's a picture

Post's attachments

Screenshot (406).png 90.82 kb, file has never been downloaded. 

Screenshot (407).png 64.01 kb, file has never been downloaded. 

Screenshot (408).png 51.7 kb, file has never been downloaded. 

You don't have the permssions to download the attachments of this post.
  • Registered: 2020-07-07
  • Posts: 22

Re: Question about TP and SL

This isn't the exact strategy I was thinking about actually I can't seem to find it but the logic is very similar. Much lower TP (110) i believe because of the somewhat issue of the TP being adjusted with every addition the the open position

  • Registered: 2020-07-07
  • Posts: 22

Re: Question about TP and SL

Wow I actually re adjusted the strategy completely and added things to the exit strategy and changed it from reduce to reverse and completely solved my issues, though i would still like for us to be able to choose both "bar closing" with whatever conditions and trailing SL both in the same strategy as an exit condition

  • Popov
  • Popov
  • Lead Developer
  • Offline
  • From: Bulgaria
  • Registered: 2006-11-30
  • Posts: 8,024

Re: Question about TP and SL

The behaviour of re-setting the SL and TP on adding is intentional. The idea is that the program searches the market for a good moment for entry with a particular SL and TP and because the market doesn't care if we have a position or not, the strategy also acts in that way.

Emagine a strategy is running and a perfect entry spot appears. The strategy opens a position and sets the SL and TP. However, before doing that it checks if we already have a previously open position. In case of a position, the strategy only changes the type of the entry order. And because it is the perfect entry situation, the strategy sets the SL and the TP at the level that are most suitable for the new entry.

Of course, we may say that the new entry with its SL and TP breaks the logic of the previous one. It is true. If we want to keep the previous entry intact, We may not use the adding or the reducing features.

Popov's Website