Bomb squad

How is your risk management?

This utility simply closes all trades associated with the live symbol when your stop-loss or take-profit levels are breached/reached by a group of positions.

This utility can be beneficial in several ways when applied to a group of positions:

1. Aggregate Risk Management: By closing all trades associated with a live symbol when a stop-loss level is reached, it helps manage the aggregate risk across multiple positions. This can prevent a significant drawdown in your trading account if the market moves unfavorably.

2. Collective Profit Booking: When the take-profit level is reached, closing all trades ensures that profits are booked collectively. This can be particularly beneficial in trending markets where multiple positions in the same direction can accumulate substantial profits.

3. Portfolio Diversification: If you have multiple positions open on the same symbol, closing them all at once can help maintain portfolio diversification. It prevents overexposure to a single market symbol.

4. Efficiency: It’s more efficient to manage a group of positions with the same symbol collectively rather than individually. It saves time and allows for a more strategic approach to trading.

Remember, while this utility can enhance trading efficiency and risk management, it’s important to use it as part of a comprehensive trading strategy. This includes proper market analysis, setting appropriate stop-loss and take-profit levels, and regular review of trading performance.

In this product, we iterate through all the orders and sum up the profit of the orders that belong to the current symbol. Then, we add this total profit to the account balance to get the equity for the current symbol. This equity is then used in the comparison with the stop loss and take profit levels. If the equity is less than the balance minus the stop loss or greater than the balance plus the take profit, all orders for the current symbol are closed. . If your stop loss and take profit levels are in pips, you will need to convert them to the account currency. Also, please test this code thoroughly on a demo account before using it on a live account. Let me know if you need further assistance. Happy trading! 😊

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