+1 888 340 6572

# SetProfitTarget_pt vs. SetProfitTarget operate differently

 1 Votes
Description

I have a 2 position trade on the S&P emini which has a \$12.50 tick value. When I use SetProfitTarget_pt set to 20 I get a different result than if I use SetProfitTarget set to 250. Both are set to PositionBasis True. SetProfitTarget_pt will close the trade when the trade = 20 ticks per position, or \$250 for each position, total \$500. SetProfitTarget will close the trade when the trade = \$125 per position, or total \$250. I Think they should operate in a similar way.

So long as the position size is greater than 1 the issue surfaces.

Steps to reproduce this issue
1. Create a chart on S&P mini future contract (issue is on all instruments)
2. Apply any strategy
3. Set strategy properties to allow up to 50 positions
4. Using SetProfitTarget_pt in the ProfitTarget Strategy and set the profit target to an amount high enough to cause multiple positions in a trade.
5. Note the input setting
6. As an example, if the input setting was 20, then multiply 20 X the tick value. In the case of the S&P emini it is \$12.50 per tick X 20 which equals \$250.
7. Using SetProfitTarget in the ProfitTarget Strategy, set profit target to \$250.
8. Compare the results.

When the trade closes the multiple positions at one time using SetProfitTarget, equals per trade profit
When the trade closes the multiple positions at one time, SetProfitTarget_pt equals profit for each position in the trade

Comments (2)
#1
MultiCharts Support (MultiCharts)
Aug 14, 2020 - 08:48
Hello,

SetProfitTarget_pt generates an order with a specified tick offset from the entry price.

Below is an example for ES: tick = MinMove / PriceScale = 0.25 tickValue = MinMove / PriceScale * bigpointvalue = 12.5

If you have two entries for ES, let's suppose these are two Buy orders 1 contract each, so you have a position Long 2.

1. If you set SetProfitTarget_pt(20) in the mode SetStopPosition, this means that the position will be closed at the 20 ticks offset from the entry price. In this case, the price of a Limit order that will close the position will be calculated this way: AvgEntryPrice + 20ticks = AvgEntryPrice + 20 * 0.25 = AvgEntryPrice + 5 (this is the price of the order on the chart) The profit will be no less than 20ticks * 2contract = 20 * 12.5 * 2 = \$500.

2. If you set SetProfitTarget(250) in the mode SetStopPosition, this means that the profit \$250 will be fixed from Long 2 position. In this case, the price of the Limit order that will close the position will be calculated this way: AvgEntryPrice + ( 250 / tickValue / 2) = AvgEntryPrice + ( 250 /12.5 / 2 ) = AvgEntryPrice + ( 10ticks ) = AvgEntryPrice + 2.5 (this is the order price on the chart) The profit will be no less than \$250.
#2
db (beck donald)
Sep 20, 2020 - 06:16

I understand how it works. It was my suggestion that a 2 new keywords be created so that a profit strategy could be programmed to same results no matter if you select profit targets based on points or dollar amounts.

S&P mini at \$12.50 per tick
Current options
2 point profit target X 2 positions = \$50.00 (profit target in points will change the dollar result based on the number of positions in a trade)
\$25 profit target X 2 positions = \$25.00 (profit target in dollars for the whole trade, number of positions does not change the profit target)

Suggest new keywords so that the following programming could be done.
2 point profit target X 2 positions = \$25.00 (allows profit target for the whole trade. More positions will not change dollar result)
\$25 profit target X 2 positions = \$50.00 (allows profit target for each position in a trade based on dollars, more positions increase the dollar result)

History
Issue basics
• Type of issue
Bug report
• Category
Not determined
• Targeted for
Not determined
• Status
Under Review
• Priority
Not determined
User pain
• Type of bug
Not triaged
• Likelihood
Not triaged
• Effect
Not triaged
Affected by this issue (0)
There are no items
People involved
Times and dates
• Posted at
• Last updated
Issue details
• Reproducability
Not determined
Attachments (0)
There is nothing attached to this issue
Commits (0)
There are no code checkins for this issue
Duplicate issues (0)
This issue does not have any duplicates