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Take partial profit action (only 1x)

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IvanD1983

Subscriber, bbp_participant, community, 46 replies.

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6 years ago #117038

Hi,

 

I have another consultation to take a partial exit. My aim is to take 50% off the table if my trade goes 10p in favour, while letting the rest of the position run.

 

I have set-up the following window with conditions (See attached image). 

 

When I backtest it, the problem I am facing is that every 10p in profit, I will get 10p partial close. If the trade goes for 40, it will take partial closes at 10p, 20p, 30p profit…

 

I only want the action to be performed 1x at 10p profit. How to go about setting the rule for the ‘partial close’ action to only be done 1x please?

 

Thanks.

File: 1.png1.png

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tomas262

Administrator, sq-ultimate, 2 replies.

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6 years ago #143355

Hello,

 

you can setup a variable called “PartProfitTaken” and set to 0. Once the condition is valid you can set this to number 1. Add this variable to the condition for partial profit taking (If PartProfitTaken = 0)

 

Go into your “Go Long” condition and add this: Assign variable: PartProfitTaken = 0

 

This will ensure the partial profit taking will happen only once

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IvanD1983

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6 years ago #143365

Hi Tomas, Could you explain it again step-by-step. Felt you didn’t provide enough clarity on what steps to take. 

 

1- I already set variable called “PartProfitTaken” and set to 0 (see image 1)

 

2- Here is where I get lost: Once the condition is valid you can set this to number 1. Add this variable to the condition for partial profit taking (If PartProfitTaken = 0)

 

3 – Can you clarify ” Go into your “Go Long” condition and add this: Assign variable: PartProfitTaken = 0 “ . Check my image 2. Is it correct? What am I missing?

 

Tx. 

 

 

Go into your “Go Long” condition and add this: Assign variable: PartProfitTaken = 0

File: 2.png2.png
File: 1.png1.png

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IvanD1983

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6 years ago #143372

Hi Tomas (again),

 

I have tried the following…. see images from 1 to 4…

 

The result is that at 10p profit, instead of performing take profit action only 1x, it is performed non-stop until closing all position….

 

Image 1 shows what i mean, while images 2-4 shows current settings following your explanation (which i didn’t really understand that clear)

 

I’d appreciate a more clear step-by-step explanation as this is a critical part of my strategy. 

 

Thanks in advance. 

 

 

File: 1.png1.png
File: 2.png2.png
File: 3.png3.png
File: 4.png4.png

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IvanD1983

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6 years ago #143374

Problem fixed…

 

I now understand the logic and strategy performing partial closes only 1x… still struggling with the rest of topics though….

 

Thanks.

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