Ralated orders
Ralated orders
08 Aug 2023, 02:17
I have idea not sure it can be applied to the main software or as a code/bot
I dont use stop loss but instead i use a hedge position in other direction to lower losses until market start to recover, so i put a pending order to open hedge position at a certain point ( for example when price go down and loss a certain level )
But sometime the market first reach the take profit point, then go down to the hedge position entry price ( which is not needed anymore as the take profit point was reached )
I need to make orders connected, so when i create a pending order, an option to cancel the pending order in case the other open position was closed
Would like to discuss it with anyone who like the idea
Replies
MultiCash
08 Aug 2023, 03:00
RE: Ralated orders
Tradinginanut said:
n my case, when I open a transaction, for example buying and the price does not reach Take Profit, or I open the sell operation and when it makes the return to continue until my Take Profit I open another buy transaction. with the same Take Profit as the first one. yes the topic is interesting, since I recently created an indicator for myself, and now I am thinking of taking advantage of the information from this indicator to create a cBot, this would be a great idea to combine the two ideas to guarantee the maximum benefit. If you want you can read about my indicator here: https://tradinginanut.web.app/details If you like we keep in touch.
Thank you for your reply
From what you said I understand that you double your position when the market go against your direction to make more profit, am I right?
If this what you mean, You can use this way when you usually open small positions that dont affect your margin so much and you are safe, in this case your loss would be not too much and opening another position in the same direction will make you benefit from the market to double your profit.
But in my case, I usually open large positions and losses can be high and can affect my margin, so I minimize the losses by a hedge position, the position I can open manually if i am watching the market, or if am busy i create pending order.
But if the market move to my take profit and the position is closed, then pending order is useless and need to be canceled automatically once the take profit reached.
What I want, someone can create a cBot for for this case "if the market move to my take profit and the position is closed, then pending order is useless and need to be canceled automatically once the take profit reached.”
@MultiCash
PanagiotisChar
08 Aug 2023, 05:43
Hi there,
You would need to automate this using a cBot. If you are interested to assign the job to somebody, feel free to contact me at development@clickalgo.com
Need help? Join us on Telegram
@PanagiotisChar
ThomasSparrow
08 Aug 2023, 02:50 ( Updated at: 20 Aug 2023, 08:39 )
n my case, when I open a transaction, for example buying and the price does not reach Take Profit, or I open the sell operation and when it makes the return to continue until my Take Profit I open another buy transaction. with the same Take Profit as the first one. yes the topic is interesting, since I recently created an indicator for myself, and now I am thinking of taking advantage of the information from this indicator to create a cBot, this would be a great idea to combine the two ideas to guarantee the maximum benefit. If you want you can read about my indicator here: https://tradinginanut.web.app/details If you like we keep in touch.
@ThomasSparrow