AdjustPositionAtLimit
Contents
Increases or decreases an existing position by the specified factor if the market trades through the limit price. See: AdjustPositionOnOpen for a more complete description of the adjustment factor.
Increasing a position size will result in adding units since the contract/share additions will have a different entry date than any of the existing units. Decreasing a position size will remove contracts/shares starting with the last unit on, and working back to the first if necessary.
This function is generally used by a Risk Manager Block to lighten a position to meet certain risk restrictions, or by an Exit Block to take profits on a portion of a position at a specified profit target.
Syntax: |
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' Change the positions quantity using the adjustment percent ' when limit price is traded through. |
Parameter: |
Description: |
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[symbol] |
Symbol is optional when intended broker order is for the instrument naturally in context. |
adjustmentPercent |
Percentage rate multiplier applied the existing position quantity to determine new position size. |
limitPrice |
Trade through limit price required to change position size. |
Returns: |
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Adjust Position will add a unit when percentage factor increases position quantity, and it will reduce units greater than one unit when reducing position quantity. |
Example: |
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' Take profits on a portion of our position at our target. |
Links: |
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See Also: |
Edit Time: 9/7/2020 2:31:09 PM |
Topic ID#: 131 |