Breakeven after being profitable

Hi Borishu,

Would you please clarify? You want to let a position raise by 15% and then let it go down back to 0% and sell?

Thanks,

Fred

Hello Fred,

I'm asking how people handle trades that only need to occur once based on some milestone being reached. Is the preferred way to just send a bunch of orders when the initial order is made? For example, if I have the following criteria:

• Enter Trade
• If Trade is profitable @ a certain milestone (say 15%), sell half of the position
• If Trade was profitable above a target PNL (say 10%) and fell back to 0%, liquidate the position

I can send orders at the time of entry but does this mean they will stay open and in the market the entire time? What happens if my algorithm loses connection or is restarted accidently? Ideally I would like to monitor my trade PNL and only send the orders when the targets are hit but this seems to require storing a local variable so I don't repeatedly sell every time my trade hits my desired ‘Take Half Profit’ mark.

Thank you, hope that makes things clearer

Hi Borishu,
For the implementation of the above logic, we recommend going through the following thread; it explains the correct way to implement stop loss and take profit. You can send two take-profit orders for your requirements and save the tickets to them, similar to the above thread. Note that when the algorithm loses connection the algorithm fetches open orders from the brokerage.
Best,
Varad Kabade