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Forums>EA Wizard>General Discussion>Best Methodology for "Close Position Partially"

  • #197585 |
    Participant
    27 Posts

    Hi all,

    Would like to get feedback on what is regarded as the best methodology for this principle?

    Thanks in advance.

    Kind Regards
    Steve

    #197599
    Customer
    114 Posts

    Hi Steve…

    -Create variable and call it something like “part_close” assign value of 0.
    -Create logic for where you would like part close to happen ie. Profit is 7 times ATR, then have it close part position and assign a value of 1 to “part_close” variable
    -Add assign variable “part_close” to 0 to be included with your entry order.

    Hope this helps.

    #197602
    Participant
    27 Posts

    nolube thanks for the technical solution, it will help. I assume if you running the same EA over many currency pairs the variable keeps the context of the value per currency pair. i.e. won’t get cross wired…

    I was trying to find out the theory behind this, as in what is regarded as best principles of closing positions partially by other traders, like what ATR value to use and are there costs involved in doing so etc etc

    Thanks in advance

    #197603
    Customer
    114 Posts

    Hi Steve, your magic numbers should isolate every ‘chart’ regardless of currency pair or timeframe.. for example you could run the same strategy on EURUSD m5, EURUSD, m15 and GBPUSD H1 and as long as each strategy has its own magic number they will not get their wires crossed.

    #197620
    Participant
    27 Posts

    Thanks nolube

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