Can you confirm my understanding &/or suggest a better approach.
My Goal is to have :-
1. One Trade active in the market at any time.
2. Up to 3 Profit Targets, (permitting me to scale out of a position).
I also desire the option to move the highest Profit Target away from the market if it moves quickly in my favour, then pull it back to price as the trend weakens.
3. One Stop, which I move to exit the entire trade.
From what I've read. I can't do something simple like :-
EnterLong(6); // 6 lots @ $100
ExitLongLimit(2, 102);
ExitLongLimit(2, 104);
ExitLongLimit(2, 106);
SetStopLoss(CalculationMode.Price, 96); // I move it in code.
Instead I need to :-
A. create 3 trades, one for each Profit Target (correct?)
B. Give each of the 3 trades a different name. (is this necessary?)
EnterLong(2, "BuyA_1"); // NB: 1=CurrentBar on Trade entry
EnterLong(2, "BuyB_1");
EnterLong(2, "BuyC_1");
Do same for Profit Targets. eg:
ExitLongLimit(0, true, 2, 102, "Target_BuyA_1", "BuyA_1");
ExitLongLimit(0, true, 2, 104, "Target_BuyB_1", "BuyB_1");
ExitLongLimit(0, true, 2, 106, "Target_BuyC_1", "BuyC_1");
C. change the Entry Handling parameters. eg:
EntriesPerDirection = 3;
EntryHandling = EntryHandling.AllEntries;
But this causes a problem.
Once a Profit Target is reached, then it is possible to enter another trade. I don't want that. I want the whole trade to complete prior to taking another.
What am I missing?
My Goal is to have :-
1. One Trade active in the market at any time.
2. Up to 3 Profit Targets, (permitting me to scale out of a position).
I also desire the option to move the highest Profit Target away from the market if it moves quickly in my favour, then pull it back to price as the trend weakens.
3. One Stop, which I move to exit the entire trade.
From what I've read. I can't do something simple like :-
EnterLong(6); // 6 lots @ $100
ExitLongLimit(2, 102);
ExitLongLimit(2, 104);
ExitLongLimit(2, 106);
SetStopLoss(CalculationMode.Price, 96); // I move it in code.
Instead I need to :-
A. create 3 trades, one for each Profit Target (correct?)
B. Give each of the 3 trades a different name. (is this necessary?)
EnterLong(2, "BuyA_1"); // NB: 1=CurrentBar on Trade entry
EnterLong(2, "BuyB_1");
EnterLong(2, "BuyC_1");
Do same for Profit Targets. eg:
ExitLongLimit(0, true, 2, 102, "Target_BuyA_1", "BuyA_1");
ExitLongLimit(0, true, 2, 104, "Target_BuyB_1", "BuyB_1");
ExitLongLimit(0, true, 2, 106, "Target_BuyC_1", "BuyC_1");
C. change the Entry Handling parameters. eg:
EntriesPerDirection = 3;
EntryHandling = EntryHandling.AllEntries;
But this causes a problem.
Once a Profit Target is reached, then it is possible to enter another trade. I don't want that. I want the whole trade to complete prior to taking another.
What am I missing?
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