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Hi, I'm running a simple program with Multicharts.
The basic logic is that I will first take a long position and after I'm in the money for about 50 points, I accumulate my position by taking another long position. I am having trouble setting an individual stop loss and profit target for each contract. Below is the code I wrote but with no success so far. I wonder if my logic is wrong. Feel free to comment. Thanks
code:
if condition then
buy (1st) at Market;
if current price - entryprice > 50 then
buy (2nd) at Market
if currentcontract =1 then
set profit1
set stop1
if currentcontract = 2 then
set profit1
set stop1
set profit2
set stop2
Can you help answer these questions from other members on NexusFi?
if condition1 then
begin
Buy ("Entry 1") 1 contract next bar at market;
end;
if MarketPosition * Current Shares =1 then
begin
Buy("Entry 2") 1 contract next bar at EntryPrice +50 Stop;
end;
if MarketPosition =1 then
begin
Sell from ("Entry 1") next bar at ProfitTarget1 Limit;
Sell from ("Entry 1") next bar at Stop1 Stop;
Sell from ("Entry 2") next bar at ProfitTarget2 Limit;
Sell from ("Entry 2") next bar at Stop2 Stop;
end;
With your current code you will be buying another contract for every 50 point profit...
