OmniTrader Professional Forum - Feature Requests
Trade plans new feature
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Frank Birch

Posts: 171

Joined: 3/25/2006
Location: UK

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Subject : Trade plans new feature
Posted : 2/10/2022 12:35 PM
Post #31905
Hi to all,

I get it exits are boring! well in my world ever part of my development of an idea starts with an exit then with the entry 2nd.

Well I trade the FX market real time using omnipilot and things just bug how can we fine tune the exit criteria?

So in forward exits say trailing profit stop, breakeven stop you have the ability to unload say 50% of your position on each step?
works so well so you buy 2 lots then when a certain condition has been met you off load 50% (1 Lot) so so clever!!
But we cannot do this with the most important exit of them all our little friend called the Fixed Loss stop?
I would like to put forward the ability to have this feature added to the stop loss orders in trade plans please.

Regards

Frank Birch
Attached file : 2022-02-10_18-24-47.png Dual Stop Loss.png (29KB - 173 downloads)

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aztrix

Posts: 23

Joined: 8/28/2021
Location: Sydney, NSW, Australia

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Subject : RE: Trade plans new feature
Posted : 2/10/2022 7:58 PM
Post #31906 - In reply to #31905
Hi Frank

It's easy enough to do in OT22 if I understand your requirement, see attached

Cheers
Bruce
Attached file : OT22 FLS #1.PNG (50KB - 196 downloads)
Attached file : OT22 FLS #2.PNG (50KB - 180 downloads)

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Frank Birch

Posts: 171

Joined: 3/25/2006
Location: UK

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Subject : RE: Trade plans new feature
Posted : 2/14/2022 11:54 AM
Post #31910 - In reply to #31906
Hi Bruce & all,

Thanks for your help on this! I used the 1st step to include both fixed loss stops and got errors and to be honest I am still getting errors or no legs so its a work in progress to get it working
ha.

Regards

Frank
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aztrix

Posts: 23

Joined: 8/28/2021
Location: Sydney, NSW, Australia

User Profile 
Subject : RE: Trade plans new feature
Posted : 2/14/2022 12:14 PM
Post #31911 - In reply to #31905
It needs to be coded as 2 legs with the tighter stop in the 1st leg.

In practice what happens is that when the tighter stop is triggered 50% of the position is sold and it goes on to test the 2nd leg and if the looser stop is triggered the remaining position is sold, potentially on the same bar

I use it all the time for other stops and it works perfectly. Attached is my default trade plan which fleshes out the missing details from what I sent you earlier, I hope this helps?

Cheers
Aztrix

P.S. IMHO If my stop loss has been triggered the market is sending me a message and it's then up to me whether I choose to listen so I generally take the view that it was the wrong trade and I protect my capital. Either that or my stop loss is too tight in the first place and I may review after the trade
Attached file : OT22 CBL #1.PNG (20KB - 176 downloads)


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