EL Code Doubt

[rajatheroyal 10]

Hi guys please help me to code the following in easy language

 

I want to stop trading if my target for the day is achieved

 

or the loss(the maximum amount i like to lose in a day) for the day is achieved

 

 

Thanks

[Tams 20]

have you tried coding it ???

 

this is similar in concept to your time question.

 

 

var:
profit.target(200);

if netprofit < profit.taget then begin

[rajatheroyal 10]

have you tried coding it ???

 

this is similar in concept to your time question.

 

 

var:
profit.target(200);

if netprofit < profit.taget then begin

 

Thanks tams.I tried this,but this dint work coz this will take the total net profit and stop trading once the total net profit has reached in the strategy but i want only that day's profit to be considered.if theres any function like "net profit today" will work.

[rajatheroyal 10]

BTW whenever any newbie asks questions u are the first to help him out thanks for being so kind Tams.

[Tams 20]

Thanks tams.I tried this,but this dint work coz this will take the total net profit and stop trading once the total net profit has reached in the strategy but i want only that day's profit to be considered.if theres any function like "net profit today" will work.

 

 

then you have to add a counter to keep track of your daily profits.

 

or reset the strategy every morning.

 

;-)

[Tams 20]

BTW whenever any newbie asks questions u are the first to help him out thanks for being so kind Tams.

 

 

I can answer questions, but I can't write the code for you,

...unless you make a US$500 contribution to this charity:

Room to Read

http://www.traderslaboratory.com/forums/charity/

 

 

.

Edited September 8, 2009 by Tams

[Tams 20]

Thanks tams.I tried this,but this dint work ...

 

 

next time tell us what you have tried... so that you don't waste people's time.

[rajatheroyal 10]

Thanks for the idea.I myself live in a developing country 500$ is a big sum in our country.My whole trading capital is just 8 times the donation u people pay for developing countries:embarassed:

i have not spent 500$ for my own education.

Just keep guiding like this no need to code for me .

Edited September 9, 2009 by rajatheroyal

[Tams 20]

Thanks for the idea.I myself live in a developing country 500$ is a big sum in our country.My whole trading capital is just 8 times the donation u people pay for developing countries:embarassed:

i have not spent 500$ for my own education.

Just keep guiding like this no need to code for me .

 

 

I am very happy to help anyone who wants to help himself.

 

Make sure you have downloaded and read the free manuals, there are lots of useful examples in those pages.

 

 

 

p.s. I give more help to people who contribute to this TradersLaboratory community.

Edited September 9, 2009 by Tams

[flyingdutchmen 10]

@ rajatheroyal

 

i am not sure if closedequity and openequity are reserved words

in tradestation but in my software it could look like this

 

inputs: myTarget ( 200 );

if date > date[1] then value1 = closedequity;

if openequity - value1 <= myTarget then...

 

another possebility is using Tam's example from post #2

and replace netprofit by positionprofit(0)

 

if positionprofit(0) > myTarget then { exit and stop strategy }

[Charlton 10]

Here's an indicator plot that shows profit for the day based on close of previous session and current bar close, ignoring any transaction costs.

 

plot1(Close*getpositionquantity(GetSymbolName, GetAccountID) - prevclose*getpositionquantity(GetSymbolName, GetAccountID), "Days profit");

 

This is based on TS8.6 (build 2612).

 

Charlton

[swansjr 10]

Here is a start.

 

Input:
  Day_Loss(500),         // Maximum risk ($) per day
  Profit_Target(600);

Variables:
  intrabarpersist Trade_Flag(false),  // Enable/Disable trading flag
  PLB4Today(0),          // P&L total before today
  ProfToday(0),          // P&L total for today (NP + OPP - PLB4Today)
  OPP(0),                // Open Position Profit
  NP(0);                 // Net Profit + Open Position Profit

  If ( date <> date[1] ) Then 
  Begin
      PLB4Today = NetProfit;
      Trade_Flag = true;
  End;

  // Track Today's P&L

  NP = NetProfit - PLB4Today;
  OPP = OpenPositionProfit;
  ProfToday = NP + OPP ;

  If ( ProfToday <= -(Day_Loss) ) OR ( ProfToday >= Profit_Target ) Then 
  Begin
      Trade_Flag = false;
      SetDollarTrailing(0);
  End;

  If ( Trade_Flag ) Then
  Begin
         // TRADE LOGIC HERE
  End;

[rajatheroyal 10]

Thank u all guys for helping me.