Breakeven Stop?

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kinkeadfx
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Breakeven Stop?

Postby kinkeadfx » 02 May 2013

Whats the difference between the breakeven stop thats used in the signal list for autotrading than the one that is used in chart trading as an automated exit strategy?

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Henry MultiСharts
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Re: Breakeven Stop?

Postby Henry MultiСharts » 03 May 2013

Hello kinkeadfx,

The Breakeven Stop automated strategy generates a stop exit order at the average entry price of the position when the profit (for the position or per contract/share) exceeds the breakeven profit floor. With manual Breakeven exit strategy you can specify the exact breakeven level you want (Transaction costs). Overall they do the same thing.

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Re: Breakeven Stop?

Postby kinkeadfx » 09 May 2013

So basically when you put $50 input on the breakeven stop signal it will move your stop to breakeven plus 1 tick once your position moves to $50 profit?

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Henry MultiСharts
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Re: Breakeven Stop?

Postby Henry MultiСharts » 10 May 2013

Here is a couple of examples:

PositionBasis = TRUE, the Amount parameter sets the breakeven floor as a dollar amount for the entire position based on the total number of shares/contracts in the current open position (if you hold 500 shares @ MSFT, breakeven floor amount=$200, exit at breakeven if the position ever exceeds $0.40 or $200 profit above your entry price).

PositionBasis = FALSE , the Amount parameter sets the breakeven floor as a one share /contract amount (if you hold 500 shares @ MSFT, breakeven floor amount=$0.60, exit at breakeven if the position ever exceeds $0.60 or a $300 profit above the entry price).

saakbar
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Re: Breakeven Stop?

Postby saakbar » 20 May 2013

Hi

Am I to understand that if I take a trade long with a stop, and then I want the autotrading to handle the breakeven stop once a profit target is reached, can that be done?

Thanks

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Henry MultiСharts
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Re: Breakeven Stop?

Postby Henry MultiСharts » 21 May 2013

Hi
Am I to understand that if I take a trade long with a stop, and then I want the autotrading to handle the breakeven stop once a profit target is reached, can that be done?
Thanks
BreakEven and ProfitTarget are two different things.

BreakEven closes out the entire position or the entry if it is at the breakeven point after the profit has reached the specified value; generates the appropriate Stop order depending on whether the position is long or short.

ProfitTarget closes out the entire position or the entry if profit reaches the specified currency value; generates the appropriate Limit exit order depending on whether the position is long or short.

martinc
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Re: Breakeven Stop?

Postby martinc » 10 Apr 2018

Hi, I have an issue with the use of Breakeven. When it is triggered, the strategy correctly send the breakeven stop order, but does not cancel the previous stop loss. Is this an expected behavior? How could I get canceled the old stop loss when the breakeven is already protecting the position?
thank you
Martin

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Re: Breakeven Stop?

Postby Henry MultiСharts » 19 Apr 2018

Hi, I have an issue with the use of Breakeven. When it is triggered, the strategy correctly send the breakeven stop order, but does not cancel the previous stop loss. Is this an expected behavior? How could I get canceled the old stop loss when the breakeven is already protecting the position? thank you Martin
Hello Martin,

Are you referring to the Manual Trading or the Auto Trading?

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Re: Breakeven Stop?

Postby martinc » 20 Apr 2018

Hallo Henry, it happens in Auto Trading with a strategy

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Henry MultiСharts
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Re: Breakeven Stop?

Postby Henry MultiСharts » 20 Apr 2018

Hallo Henry, it happens in Auto Trading with a strategy
Martin, you need to program your code accordingly.

When SetBreakEven (as well as the other algorithmic Set* commands) is unconditional (not under an "IF" statement)- it is evaluated intra-bar (even if IOG is off). SetBreakEven will be placed automatically and remain active while the position is open, without additional programming.

But if you need one order to replace the other, you need to program the conditionals in your code and use these commands under an "IF" statement. In this case the orders will be evaluated on the bar close (if IOG is off) and intra-bar (if IOG is on). SetBreakEven / SetStopLoss will be placed when the “IF” statement is true and the position is open. The order will be active only while the “IF” statement is true and the position is open.


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