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Plan the Trade

  • #11,481
  • Mar 21, 2019 12:27pm Mar 21, 2019 12:27pm
Quoting VEEFX
Could someone please tell me how to close one single trade when I have two trades open at a time. All I see is a single order at average open price. I thought opening a market order in the opposite direction would close one trade and leave the other one open. This is for Sierra. It is rejecting my opposite side order in my attempt to close one trade and leave the other trade running. Is there some FIFO conflict or something to do with attached orders? I just don't get this. EDIT: Both open orders each have a SL and TP and now it won't let me move...
do you have enough MARGIN??!?!?!??!
  • #11,482
  • Mar 21, 2019 12:45pm Mar 21, 2019 12:45pm
Quoting Nik-Nyc
{quote} -make sure “scale-out” is selected in the options of the trade window -if SL and TP are placed programmatically then “use attached orders” must be checked or you won’t be able to move those lines
Thanks Nik. I got burnt, panicked and ended up doing a flatten of both trades. I never had to set the Scale out (it was indeed unchecked). Never knew it existed until now. Lost all my profits from yesterday NY+Asia+today (over 200+ticks). Completely flat which sucks as all my effort is blown up in smokes. There was no automation involved... all manual with good old bracket/attached orders using SL and TP and "use attached order" was checked at all times. Interesting that it would allow me to move TP but only in one direction and away from average price and both SLs were completely frozen.

Sucks to lose but rinse/repeat I guess :-(
Staying in my lane...
  • #11,483
  • Mar 21, 2019 12:51pm Mar 21, 2019 12:51pm
Quoting hilmy83
{quote} do you have enough MARGIN??!?!?!??!
Why would margin matter with not allowing me to close one? At open, margin was obviously available and by closing one, it would end up freeing margin. Actually, that second order was supposed to close my open order. instead I clicked on the wrong button and opened one more instead. It might be related to margin as it is insane to open two contracts on a account less than 2K lol

Execution is where I suck!!!
Staying in my lane...
  • #11,484
  • Mar 21, 2019 12:52pm Mar 21, 2019 12:52pm
Vee, is your goal to atomate your backtested strategy or trade manual?

better stick to the plan. big profit killer in the world of automated trading is that you deviate from your plan and interfere with the trades.
  • #11,485
  • Mar 21, 2019 1:06pm Mar 21, 2019 1:06pm
Quoting VEEFX
{quote} Why would margin matter with not allowing me to close one? At open, margin was obviously available and by closing one, it would end up freeing margin. Actually, that second order was supposed to close my open order. instead I clicked on the wrong button and opened one more instead. It might be related to margin as it is insane to open two contracts on a account less than 2K lol Execution is where I suck!!!
i remember you posting a $1600 account yesterday..i figure you only had room for 3 contracts. but you're right, if you're just closing position it shouldn't matter. i thought you tried to add s/l/tp to already tight margin.
  • #11,486
  • Mar 21, 2019 1:12pm Mar 21, 2019 1:12pm
Quoting alphadude
Vee, is your goal to atomate your backtested strategy or trade manual? better stick to the plan. big profit killer in the world of automated trading is that you deviate from your plan and interfere with the trades.
I am not there yet at the "confidence" level I need to trade live by itself. Feeling a little anxious going live with it and run into some unknown shit and blow my account lol. This was just a very small play money to get some cash towards my trip to the Bahamas next week. Still stings worse than a bee for sure.

Speaking of Margin, Sim does not have any capability to test free/use margin so not sure how I can test my algo in such scenario. By design and intention I have chosen to open only one trade at a time and never ever increase position size ever in the middle of any session or accounting period. It does not even belong in my trading plan. Going live with MT4 EA was easy man.. just microlot and let the darn thing run. Here it is $5/tick so anxiety is justified plus the joy of working with limited knowledge of Sierra continues to dazzle me. I bet it was the Scale-out setting initially then it could become a lack of margin towards "let's freeze this asshole's account and teach him a lesson" type deal lol
Staying in my lane...
  • #11,487
  • Mar 21, 2019 1:15pm Mar 21, 2019 1:15pm
Quoting hilmy83
{quote} i remember you posting a $1600 account yesterday..i figure you only had room for 3 contracts. but you're right, if you're just closing position it shouldn't matter. i thought you tried to add s/l/tp to already tight margin.
It cannot be margin for everything I know thus far on how margin works (atleast in the fx world). You are right, I had room for 3 contracts as of my daily statement plus I had over 60T profit before that. I do recall changing my "session start/stop time" under chart settings to see my overnight profit but that was about 40 mins before opening this trade. Oh well.. back to trading. no biggie.
Staying in my lane...
  • #11,488
  • Mar 21, 2019 1:20pm Mar 21, 2019 1:20pm
Quoting VEEFX
{quote} It cannot be margin for everything I know thus far on how margin works (atleast in the fx world). You are right, I had room for 3 contracts as of my daily statement plus I had over 60T profit before that. I do recall changing my "session start/stop time" under chart settings to see my overnight profit but that was about 40 mins before opening this trade. Oh well.. back to trading. no biggie.
yea, been there done that. but one thing i learn from the old man is you gotta stop when you meet your goal. So first thing is, what's your daily goal?
  • #11,489
  • Mar 21, 2019 1:27pm Mar 21, 2019 1:27pm
if your happy with your profits clap your hands
  • #11,490
  • Mar 21, 2019 1:34pm Mar 21, 2019 1:34pm
Quoting Divergence
if your happy with your profits clap your hands
Attached Image
  • #11,491
  • Mar 21, 2019 1:35pm Mar 21, 2019 1:35pm
Quoting hilmy83
{quote} yea, been there done that. but one thing i learn from the old man is you gotta stop when you meet your goal. So first thing is, what's your daily goal?
This is my tilt. I cannot stop when I am ahead. I have formed this habit over the years and need to break away from. 100T would do wonders. Most likely, I am going to stick with 50T as a goal based on my results.

I was listening to mark douglas videos posted here. He talks about this stuff in detail
Staying in my lane...
  • #11,492
  • Mar 21, 2019 1:44pm Mar 21, 2019 1:44pm
vee make an algo that when you reach profit it shuts down platform
  • #11,493
  • Mar 21, 2019 2:12pm Mar 21, 2019 2:12pm
Quoting Divergence
vee make an algo that when you reach profit it shuts down platform
Yep... primary reason for me to go that route. Already have that built in. I spent days implementing this logic and it works well via Fixed ticks or fixed % of range. It won't lock but it will close my trades right away just to punish me from this stupidity lol
Staying in my lane...
  • #11,494
  • Mar 21, 2019 2:18pm Mar 21, 2019 2:18pm
algo needs to sign out and close platform completly
  • #11,495
  • Mar 21, 2019 2:30pm Mar 21, 2019 2:30pm
Quoting Divergence
algo needs to sign out and close platform completly
Sierra already has this global feature
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Staying in my lane...
  • #11,496
  • Mar 21, 2019 2:37pm Mar 21, 2019 2:37pm
if you use it no tilts will occur right?
  • #11,497
  • Mar 21, 2019 2:51pm Mar 21, 2019 2:51pm
Quoting Divergence
if you use it no tilts will occur right?
i will be utterly miserable because of fundamental reasons that is ingrained in me but no tilt for sure. I see "stop trading" as a glass ceiling towards upward progression (speaking in practical terms). I certainly plan to use it as part of my OC framework which also gives a very good read or insight into floating equity guidelines towards scale of 'allowed' profit and loss within the context. I need your discipline bro everything else is designed to tackle primarily distraction and focus :-(
Staying in my lane...
  • #11,498
  • Mar 21, 2019 3:06pm Mar 21, 2019 3:06pm
Quoting VEEFX
{quote} i will be utterly miserable because of fundamental reasons that is ingrained in me but no tilt for sure. I see "stop trading" as a glass ceiling towards upward progression (speaking in practical terms). I certainly plan to use it as part of my OC framework which also gives a very good read or insight into floating equity guidelines towards scale of 'allowed' profit and loss within the context. I need your discipline bro everything else is designed to tackle primarily distraction and focus :-(
You have been here since 2006 Vee and traded most of that time i belive and if you still after 13 years havent learned to stop when meeting a profittarget and being as smart as you are then i must say you need drastic messures like this.
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Insanityoing same ting over expecting different results..Einstein
  • #11,499
  • Mar 21, 2019 3:57pm Mar 21, 2019 3:57pm
Quoting FXsniper111
{quote} You have been here since 2006 Vee and traded most of that time i belive and if you still after 13 years havent learned to stop when meeting a profittarget and being as smart as you are then i must say you need drastic messures like this. {image}
I have been strong believer in stop trading when in loss (i.e. consecutive losses) and not after how many TPs are hit.... just a different mindset towards daily income in futures and as I grow older, income takes precedence over building/investing

Edit: Enough talk about me. Time to move on.
Staying in my lane...
  • #11,500
  • Mar 21, 2019 4:30pm Mar 21, 2019 4:30pm
Quoting VEEFX
{quote} I have been strong believer in stop trading when in loss (i.e. consecutive losses) and not after how many TPs are hit.... just a different mindset towards daily income in futures and as I grow older, income takes precedence over building/investing Edit: Enough talk about me. Time to move on.
You are not alone VEE, I can't stop trading when I am loosing .
Like today I supposed to stop at - 100 pips but still trades are open at - 320pips.
If I don't show discipline with this micro account, I don't deserve to use high leverage such as futures..
Simply put cannot accept defeat on any single day, how am I going to change .
on a postive roll...
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