Difference between revisions of "SetBreakEven"
(Created page with "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...") |
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==== Example ==== | ==== Example ==== | ||
| − | + | Generate an exit order for the entire position if it is at the breakeven point after position profit | |
has reached $50: | has reached $50: | ||
| − | SetStopPosition; | + | <syntaxhighlight>SetStopPosition; |
| − | SetBreakEven(50); | + | SetBreakEven(50);</syntaxhighlight> |
Generate an exit order for the entry if it is at the breakeven point after per contract profit has | Generate an exit order for the entry if it is at the breakeven point after per contract profit has | ||
reached $10: | reached $10: | ||
| − | SetStopContract; | + | <syntaxhighlight>SetStopContract; |
SetBreakEven(10);</syntaxhighlight> | SetBreakEven(10);</syntaxhighlight> | ||
Revision as of 12:33, 27 January 2012
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.
SetStopPosition and SetStopContract or SetStopShare functions determine whether SetBreakEven will be applied to the entire position or to each contract or share individually; by default, SetBreakEven is applied to the entire position.
SetBreakEven function is evaluated intra-bar and not only on close of a bar, and can exit within the same bar as the entry.
Usage
SetBreakEven(Profit)
Where: Profit - a numerical expression, specifying the currency value of the profit that must be reached first
Notes
This function can only be used in signals.
SetBreakEven function does not factor in commissions or slippage.
Example
Generate an exit order for the entire position if it is at the breakeven point after position profit has reached $50:
SetStopPosition;
SetBreakEven(50);
Generate an exit order for the entry if it is at the breakeven point after per contract profit has reached $10:
SetStopContract;
SetBreakEven(10);
