How to make program stop trading after it has lost $80 for the DAY, so there aren't draw downs that wipe out my account.

I have the code in there to make it stop trading after it is profitable, however when i use "NetLoss" it says it is an unknown symbol

Inputs: Price( Open ),
Length1 ( 15 ),
Length2 ( 20 )
Cts ( 4 ),
TGT ( 100 ),
STP ( 75 );

Vars: ExpAv1 ( 0 ),
PrevNetProfit ( 0 ),
PrevNetLoss ( 0 ),
StopTrading (false),
ROC1 ( 0 );

ExpAv1 = XAverage ( Price, Length1 ) ;
ROC1 = ( PRICE - PRICE[Length2] ) / PRICE[Length2] * 100 ; { RATE OF CHANGE }

if Date <> Date [1] then
begin
PrevNetProfit = NetProfit;
StopTrading = false;
end;

if NetProfit >= PrevNetProfit + 100 then StopTrading = true;

if Date <> Date [1] then
begin
PrevNetLoss = NetLoss;
StopTrading = false;
end;

if NetLoss >= PrevNetLoss + 80 then StopTrading = true;

{Buy or short sell contracts at exponential average crossovers}

if volume > 5000 and ROC1 > 0 and Price[1] crosses above ExpAv1[1] then
begin
buy ( "buy") Cts contracts next bar at market ;

setprofittarget (TGT);
setstoploss (STP);

end;

value97 = text_new ( D, T, ExpAv1, "*" );
text_setcolor (Value97, Cyan);

honoluluhustler,

Netprofit is the total result over all completed trades. A drop in NetProfit of 80 compared to the previously stored value indicates a loss of 80$ (or whatever you use as base currency). That's why there is no NetLoss reserved word.

To access the result of winning trades only, you can use GrossProfit and GrossLoss for the losing trades.

Regards,
ABCTG

Thank you ABCTG for your work.

I have another question. Is it possible to make the trading bot close all positions by a certain time? I plan to use Global Futures and the $500 intraday trading margin and holding a postion past 4:15pm EST results in full margin.

Mahalo,

Honolulu Hustler

Your are welcome. I have answered here

How to make program close all positions by 4:15PM EST? honoluluhustler, yes, this is doable. Use an input for the time when you want to close out the trades. Then check for If Time > StopTime then begin //exit your open trades end; You might want to check for Time

Regards,
ABCTG

@honoluluhustler are you affiliated with Global Futures in any way?

Mike

No I am not

honoluluhustler 

No I am not

What about AMP? Any affiliation?

Mike

Nope.

Big Mike 

What about AMP? Any affiliation?

honoluluhustler 

Nope.

OK thanks.

Are you in Hawaii today? Or Chicago?

Mike