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Fixed Dollar Profit Target and Stop Loss

Posted By ywlee 3 Years Ago
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Posted Friday May 16 2014
Hi

Is it possible to use a fixed dollar profit target and stop loss eg. exit when profit is $1000 and stoploss when profit is $500?
Posted Friday May 16 2014
Yes, although you'll need to calculate yourself what the target prices should be. In the OrderFilled method, you can calculate the profit target and stop loss prices based on the position entry price and size, and set profit target and stop loss with the price you calculated.

You may want to avoid doing this on partial fills. Otherwise for a small fill you could have much wider targets than expected because the position size would be smaller at the time.

Thanks,
Daniel


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