BracketOrder or 2 pendingorders (SL & TP)
BracketOrder or 2 pendingorders (SL & TP)
16 Nov 2016, 12:45
Hello,
Is it possible to link 2 orders together into a bracketorder whereas if 1 of the orders is filled the 2nd one is cancelled?
I tried the following logic which didn't work.
I am opening a position with a limitorder (for example buy1m eur/usd).
I then on private void OnPositionOpened(PositionOpenedEventArgs args) Event send 2 pending orders, 1 limit (T/P) and 1 stop.
This logic doesn't work since when either orders are filled a new position is opened rather than taking profit or stopping out of the already existing position.
What would be the correct implementation of this logic?
Thanks
Replies
DELETED_USER
04 Dec 2016, 22:35
I am still struggeling to get this working since the stoploss and limit order actually open a new position rather than closing the actual position.
For example: OnBarClose I am sending a buylimitorder to open a position.
var buyLmtOrder = PlaceLimitOrder(TradeType.Buy, Symbol, size, buyLimit, "label");
OnPositionOpened I then send a stop and limit order based on the entryPrice of the position once the buyLmtOrder is filled.
private void OnPositionOpened(PositionOpenedEventArgs args)
{
Print("Opened");
var position = args.Position;
Print("Position opened at {0}", position.EntryPrice);
if (position.TradeType == TradeType.Buy)
{
PlaceLimitOrder(TradeType.Sell, Symbol, (long)position.Quantity, TPBuy, "label");
PlaceStopOrder(TradeType.Sell, Symbol, (long)position.Quantity, sellSL, "label");
}
}
OnPositionClosed I then cancel the 2nd outstanding order so if stoploss is filled I cancel the limit and vice versa.
private void OnPositionClosed(PositionClosedEventArgs args)
{
Print("Closed");
var position = args.Position;
if (position.SymbolCode == Symbol.Code && position.NetProfit > 0)
{
foreach (var order in PendingOrders)
{
if (order.SymbolCode == Symbol.Code)
{
CancelPendingOrder(order);
}
}
}
else if (position.SymbolCode == Symbol.Code && position.NetProfit < 0)
{
foreach (var order in PendingOrders)
{
if (order.SymbolCode == Symbol.Code)
{
CancelPendingOrder(order);
}
}
}
}
Any help would be much appreciated.
cyfer
04 Dec 2016, 23:32
I can't follow what's going on here
why are you opening 2 pending orders after the initial order is filled ??
are you trying to set Stop Loss and Take profit for the "Just opened" Position ? .. in that case you should set those parameters in the call back function
private void OnPositionOpened(PositionOpenedEventArgs args)
{
var position = args.Position;
var stopLoss = The Stop Loss you want to set;
var takeProfit= the Take Profit you want to set;
ModifyPosition(position, stopLoss, takeProfit);
}
@cyfer
DELETED_USER
06 Dec 2016, 21:16
RE:
Yes thats it cyfer, set it for the just opened position.
Thanks!
cyfer said:
I can't follow what's going on here
why are you opening 2 pending orders after the initial order is filled ??
are you trying to set Stop Loss and Take profit for the "Just opened" Position ? .. in that case you should set those parameters in the call back function
private void OnPositionOpened(PositionOpenedEventArgs args) { var position = args.Position; var stopLoss = The Stop Loss you want to set; var takeProfit= the Take Profit you want to set; ModifyPosition(position, stopLoss, takeProfit); }
... Deleted by UFO ...