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Adding to a position based on a fixed number of ticks

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    Adding to a position based on a fixed number of ticks

    I searched the forums for about a half hour to see if this had already been addressed. Couldn't find anything.

    Here's what I'm trying to do:

    Using the Strategy Wizard, I have created a system that goes long or short based on a simple breakout. I want to add as many as four more trades in the same direction, when the market goes "x" number of pips in the direction of the trade.

    For example, if the $EURUSD opens a long position at 1.2700, I want it to add on positions at 1.2750 and 1.28 and 1.2850 and so forth up to a maximum of five total positions.

    Is there a way to get the Strategy Wizard to build these conditionals? I'm fooling around with some things in the Condition Builder, but I don't want to waste my time if it won't work. Specifically, my thought is to add a condition such as

    If the "RealizedPnL" (type=points) is greater than 50, then "ADD" Long position.

    I'm thinking that would work (haven't tried it yet).... the problem with this is that in the strategy wizard you can only go out to 10 sets of conditions.... I would need 15 to 20 sets to code it to have it add positions at every 50 pips for both the long and short side (8 conditionals for long and short side, plus the conditionals entry, exit, and indicator based stops for the system itself).

    Thoughts? Is there a better way to do this? A function I'm not aware of?

    #2
    fury661, you would need to work with the open / unrealized Pnl to add - given the limited number of condition sets and also the greater level of flexibility in custom coding I would go this way from the start for your strategy.

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