Trade management functions ( TMF )

Hi,

I have a few issue with using TMF to set/change my stop losses or trail my profit.

1)

When I am using TMF to setup and move my SL, it is not setting up SL at all ?

int myTMF()
{

for(open_trades) {
if(TradeIsLong && TradeProfit>0) TradeStopLimit = max(TradeStopLimit, priceClose()-4*ATR(40));

else if(TradeIsShort && TradeProfit>0) TradeStopLimit = min(TradeStopLimit, priceClose()+4*ATR(40));

if(TradeStopLimit != 0) plot("Stop",TradeStopLimit,DOT|MAIN,BLUE);

}
return 0;
}


Picture attached.


2) As I found out, I can't use distance in TMF to set it up ?

This won't work ->

TradeStopLimit = 50*PIP;

It set my stop basically to the price value of 50, as my test shows.

3)

TradeStopLimit = priceClose()-4*ATR(40));

I found this to work, but problem is that it is going up and down and in long trade I want it to go only up or not to change once it has been setup.

4)

How I can setup trail, as it said I can't setup with distance in PIP.
How actually I am setting it up, if I want to use different TradeTrailLock, according to the level of profit ?

if (TradeProfit >0)
{
TradeTrailLock = 0.2
}
if (TradeProfit >0.05*Balance)
{
TradeTrailLock = 0.8
}


I am not great in programming, just learning, sorry

Thanks in advance !!

Neb

Never run trade loops inside a TMF, unless you have a very good reason to! (This is not one of them.)

Also, I assume you correctly assigned a TMF to a trade. Did you do that? This happens when you call enterLong(myTMF) or enterShort(myTMF).

Hi Andrew,

Thanks for quick reply !!!

You meant about for {} loop ?
Ok !
Actually it is redundant I suppose, cause I've been calling for all open trades and then again checking if trade is long or short.

I did call enterLong(myTMF) and enterShort(myTMF) inside run{}, as it was in one of the examples. Is that ok or ... ?

Thanks !

Yes and yes.

The TMF answers the question: "I have this trade open. What do I do with it?"

A trade loop such as for(open_trades) explicitly iterates through all open trades, which is a different way to handle trades or get information about them. Normally, you'd execute this from run() or tick().

Thanks , got it !


And instead of using Trail, what actually not work inside TMF, i can use something like this:

if(TradeProfit>0.03*Balance && TradeIsLong)
{
TradeStopLimit = max(0.5*(TradePriceClose-TradePriceOpen), TradePriceClose-3*ATR(25));
plot("Stop",TradeStopLimit-10*PIP,MINV,BLUE);
}
if(TradeProfit>0.03*Balance && TradeIsShort)
{
TradeStopLimit = min(0.5*(TradePriceOpen-TradePriceClose), TradePriceClose+3*ATR(25));
plot("Stop",TradeStopLimit+10*PIP,MAXV,RED);
}

I don't think it works to call plot() from a TMF.
https://manual.zorro-project.com/plot.htm

More importantly, why are you using the value TradePriceClose when it is impossible to know what TradePriceClose is because your trade is still open? Use priceClose() instead.

Hi Andrew,

It works, at least I was using it only to see how my SL was moving (debugging steps)
But generally, I can delete it.

Re TradePriceClose manual says:

https://zorro-project.com/manual/en/trade.htm

"If the trade is still open, it's the current price of the asset or contract".

So, this is why I was using it

Can I use optimize() and how inside TMF function ?
I would like to see where is the most optimal to move my SL ?
Or you maybe suggest to plot MAE and price profile ?

Thanks,

Neb

I think you're right!
Call optimize() in run(). If you need the optimized values in your TMF, share the return value from optimize() with your TMF, such as with a global value, AssetVar, or TMF parameter., i.e. enterLong(myTMF, parameter1, parameter2, ...).

Thanks Andrew !

Much appreciated !

Neb

Hi,

One more, for more experienced, because it is not quite clear to me.
How I am entering more than 1 lots if I am using TMF ?
Will it be 2nd parameter in entryLong/Short() and first in TMF() ?

Something like entryLong(myTMF, numLots) ?
And then myTMF(numLots) {}

Or different ?

Thanks,

Neb

Simply set the global value Lots before calling enterLong() or enterShort(). Or any of these values:
https://zorro-project.com/manual/en/lots.htm