If 1% damage, position is closed. I wrote the code, but it doesn't work.

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Kutluhan Yesilkaya
394
Kutluhan Yesilkaya  
If 1% damage, position is closed.  I wrote the code, but it doesn't work.
Marco vd Heijden
Moderator
12383
Marco vd Heijden  
Try again.
Keith Watford
Moderator
18954
Keith Watford  
This is an English language forum.
Please only post in English.
Use the site's translation tool if necessary.
A post not in English has been removed
Kutluhan Yesilkaya
394
Kutluhan Yesilkaya  
Marco vd Heijden:
Tekrar deneyin.

I haven't tried much.  I want to close this position if it hurts 1%.  If 2% profit, position is closed.  Do you know how to do it?

William Roeder
19974
William Roeder  
Kutluhan Yesilkaya: Do you know how to do it?
  1. Neither can we. We can't see your broken code. There are no mind readers here and our crystal balls are cracked.

  2. Never risk more than a small percentage of your account, certainly less than 2% per trade, 6% total to the account. In code (MT4): Risk depends on your initial stop loss, lot size, and the value of the pair. It does not depend on margin and leverage.
    1. You place the stop where it needs to be — where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
    2. AccountBalance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the spread, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
    3. Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency.
                MODE_TICKVALUE is not reliable on non-fx instruments with many brokers - MQL4 programming forum 2017.10.10
                Is there an universal solution for Tick value? - Currency Pairs - General - MQL5 programming forum 2018.02.11
                Lot value calculation off by a factor of 100 - MQL5 programming forum 2019.07.19
    4. You must normalize lots properly and check against min and max.
    5. You must also check FreeMargin to avoid stop out

    Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5 or 0.1 Lots maximum.

Vladimir Karputov
Moderator
160259
Vladimir Karputov  
Kutluhan Yesilkaya :
If 1% damage, position is closed.  I wrote the code, but it doesn't work.

Example.

The drawdown (in%) input parameter sets the drawdown.

Work algorithm:

  • go around the list of positions
  • determine the type of position
    • if the position is unprofitable, then we consider the drawdown
    • if the drawdown exceeds "drawdown (in%)" - close the position

The code:

//+------------------------------------------------------------------+
//|                                          Percentage Drawdown.mq5 |
//|                              Copyright © 2019, Vladimir Karputov |
//|                                           http://wmua.ru/slesar/ |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2019, Vladimir Karputov"
#property link      "http://wmua.ru/slesar/"
#property version   "1.000"
//---
#include <Trade\PositionInfo.mqh>
#include <Trade\Trade.mqh>
//---
CPositionInfo  m_position;                   // object of CPositionInfo class
CTrade         m_trade;                      // object of CTrade class
//--- input parameters
input double   InpDrawdown    = -1;          // drawdown (in %)
//+------------------------------------------------------------------+
//| Expert initialization function                                   |
//+------------------------------------------------------------------+
int OnInit()
  {
//---
   m_trade.SetExpertMagicNumber(456);
   m_trade.SetMarginMode();
   m_trade.SetTypeFillingBySymbol(Symbol());
   m_trade.SetDeviationInPoints(10);
//---
   return(INIT_SUCCEEDED);
  }
//+------------------------------------------------------------------+
//| Expert deinitialization function                                 |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
  {
//---

  }
//+------------------------------------------------------------------+
//| Expert tick function                                             |
//+------------------------------------------------------------------+
void OnTick()
  {
   for(int i=PositionsTotal()-1; i>=0; i--) // returns the number of current positions
      if(m_position.SelectByIndex(i)) // selects the position by index for further access to its properties
        {
         double price_current = m_position.PriceCurrent();
         double price_open    = m_position.PriceOpen();
         if(m_position.PositionType()==POSITION_TYPE_BUY)
           {
            if(price_open>price_current)
              {
               /*
               price_open
                    |
               price_current

               price_open                 -> 100%
               price_open-price_current   -> x%
               */
               if(((price_open-price_current)*100.0/price_open)<=InpDrawdown)
                  m_trade.PositionClose(m_position.Ticket());
              }
           }
         else
           {
            if(price_open<price_current)
              {
               /*
               price_current
                    |
               price_open

               price_open                 -> 100%
               price_current-price_open   -> x%
               */
               if(((price_current-price_open)*100.0/price_open)<=InpDrawdown)
                  m_trade.PositionClose(m_position.Ticket());
              }
           }
        }
//---
  }
//+------------------------------------------------------------------+
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