Ema Cross Long and Short With Stop Loss and Take profit need help

Hi Leu,

You are placing 3 orders at the same time: MarketOrder, LimitOrder and StopMarketOrder.  With the "-positionSize" you are telling it to open a short position.

Hi Ryan Riordon, could you please explain how to make Take profit for short position? Maybe you have some example,?Thank you!

Leu,

Firstly I would suggest reading the documentation and getting familiar with order types: 

If you are trying to control losses you could just put this in the "def Initialize": self.SetRiskManagement(MaximumDrawdownPercentPerSecurity(0.2))  where .2 is a stop loss at 20%.  It doesn't matter if you are long or short, it will liquidate either one.  Then you could just set up a simple limit order for the entry: 

for symbol in selected_symbols:
            price = self.Securities[symbol].Price
            self.LimitOrder(symbol, self.cashused/price, (price * 0.99))  #put a "-" in front of the self if you want to short

You could set up a fixed amount of $ used if you put in initialize self.cashused = xxxxx.xx

There are also examples on how to update the order on that link I provided.

If you want more help you will need to very clearly say if you are invested 100% of the time, if you want market or limit orders, what your stop loss will be and wheather you are going to let the EMA crossovers determine your exit when winning or if you are going to take profit before the EMA crossovers.

Hi Leu,

In the algorithm above, since `isLong` is set in OnOrderEvent, it remains True in OnData when

no longer holds. This can lead to missing entries.

In addition, the CancelOpenOrders conditional needed to be extended to include all the TP/SL order types.

These changes have been made in the attached backtest.

Best,
Derek Melchin

Hi Derek, thank you for your answer. But with that logic algorithm execute marked order every time when previous stop loss or take profit was executed. What I wanted to write is, that after stop loss/take profit was executed, algorithm should check how ema's positioned and make a trade only after crossover. 

For exemple:

1) we hade long and stop loss was executed. 

2) Checking ema's. Ema fast < ema slow. It means that we are waiting cross and will take Long (now it will take short)

 That why added this 

isLong = self.emaFastValue > self.emaSlowValue on OnOrderEvent. Probably should better way to express this.

Hi Leu,

Thanks for clarifying. The algorithm I previously attached was designed to trade immediately instead of waiting for cross-overs. A consequence of this is that it can take the same position after a stop-loss or take profit order is filled.

Best,
Derek Melchin

Hi Derek, I finally got result which I wanted to achieve or come close to it :D The issue was a stupid in

 self.firstRun = False (was self.firstRun == False)

I leave changed algo here. I gues it's good first algo for beginers like me it cover a lot of QC concepts.