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Date/Time: Mon, 16 Sep 2024 19:21:19 +0000

Post From: Trading System Based on Alert Condition - Only Scale in if Existing Position is in Profit

[2024-07-16 07:38:24] Link To Thread - Link To Post [Go To First Post]
Rich_B - Posts: 31
Hi John The solution above has worked well on 3 of the 4 markets I trade. However, it doesn't seem to work on Gold. Not that the logic isn't sound, I can see that it is. It appears to be the 'Trading: Position Average Price' study that is not resetting to zero when the first position closes at a loss or breakeven that is causing the problem. This means that additional trades are being added to the position even if it is not showing profit (the thing I am trying to avoid). In your post above, you mention that there are 'a few ways' to go about achieving my goal. Having done some back-testing, I have concluded that the 'x amount of pips' parameter from my original post is actually not that relevant ... any level of profit will be sufficient, just not a loss or breakeven. Would you mind sharing the other ways you mention that I can go about automatically adding to a position but only when the current position is showing (any level) of profit? Many thanks