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How do i place basic stop loss/take profit (forex)?

can someone give me a basic example on how to perform a trade with stop-loss and take-profit on eurusd? i have been trying for multiple days to figure this out but nothing seems to work. I Do a market order and then my limitOrder get filled first so i should make profit but the backtest shows only (unrealized) loss. help would be very much appreciated!

 

I have been trying for a few days to get a very basic algorithm to work however suprisingly enough i can't seem to figure out how add stop loss/take profit to my orders. I have tried different api functions like MarketOrder,LimitOrder,StopMarketOrder etc. i always end up with unrealized profit?

this is what i do now. when there is a sell/buy signal i will do a market order and then a limit order as my take profit and a StopMarketOrder as my stop loss. In the logs i can see that on my first and only trade (i do only one trade for debugging puroposes) the LimitOrder eventually getsFilled. I catch this in the function onOrderEvent and then i do Transactions.CancelOpenOrders() or Transactions.CancelOrder(id). The StopMarketOrder then gets canceled. However when i run the backtest i make a loss and the loss stays unrealized. how can this be?

namespace QuantConnect.Algorithm.CSharp
{
/// <summary>
/// Basic template algorithm simply initializes the date range and cash. This is a skeleton
/// framework you can use for designing an algorithm.
/// </summary>
public class BasicTemplateAlgorithm : QCAlgorithm
{
private Symbol _eurusd;
private RelativeStrengthIndex _rsi;
private DateTime startdate;
private DateTime enddate;
private OrderTicket order;
private OrderTicket limit;
private OrderTicket stop;
private bool trading;

/// <summary>
/// Initialise the data and resolution required, as well as the cash and start-end dates for your algorithm. All algorithms must initialized.
/// </summary>
public override void Initialize()
{
trading = false;
startdate = new DateTime(2018,1,1);
enddate = new DateTime(2018,12,14);
SetStartDate(startdate); //Set Start Date
SetEndDate(enddate); //Set End Date
SetCash(100000); //Set Strategy Cash
AddForex("EURUSD",Resolution.Hour,Market.Oanda);
SetBrokerageModel(BrokerageName.OandaBrokerage);

var lot = Securities["EURUSD"].SymbolProperties.LotSize;

Debug("the lot size is "+ lot);

var orderQuantity = 20180.12m;
var order = Securities["EURUSD"].SymbolProperties.ContractMultiplier;

Debug("the order size is "+ Math.Round(orderQuantity/lot)*lot);

_eurusd = QuantConnect.Symbol.Create("EURUSD", SecurityType.Forex, Market.Oanda);
_rsi = RSI(_eurusd,14,MovingAverageType.Wilders,Resolution.Hour);
}

/// <summary>
/// OnData event is the primary entry point for your algorithm. Each new data point will be pumped in here.
/// </summary>
/// <param name="data">Slice object keyed by symbol containing the stock data</param>
public override void OnData(Slice data)
{
if (!_rsi.IsReady){
return;
}
QuoteBar quote = data[_eurusd];
Decimal price = quote.Close;
Log("the bar price is "+ price);
if (trading){
return;
}
decimal p = 1.001m;
if (_rsi <= 30 && _rsi >= 25){
decimal limit = price+0.0046m;
decimal stop = price-0.0050m;
order = MarketOrder(_eurusd,1,false);
Log("the price is " + price);
Log("the limit is "+ limit);
Log("the stop is "+ stop);
//Console.WriteLine("limit: "+limit);
//Console.WriteLine("stop: "+stop);
this.limit = LimitOrder(_eurusd,1,limit);
this.stop = StopMarketOrder(_eurusd,1,stop);
//LimitOrder(_eurusd,1,limit);
trading = true;
}
if (_rsi >= 70 && _rsi <= 75){
decimal limit = price-0.0046m;
decimal stop = price+0.0050m;
Log("the direction is Sell");
Log("the price is "+ price);
Log("the limit is "+ limit);
Log("the stop is "+ stop);
order = MarketOrder(_eurusd,1,false);
this.limit = LimitOrder(_eurusd,1,limit);
this.stop = StopMarketOrder(_eurusd,1,stop);
Log("The orderid for market order is "+ order.OrderId);
Log("the order id for limit order is "+ this.limit.OrderId);
Log("the order id for stop order is "+ this.stop.OrderId);
trading = true;
}
}

public override void OnOrderEvent(OrderEvent orderevent){
Log("OrderEvent occured");
Log("OrderEvent Status " + orderevent.Status);
Log("The Order Id is " + orderevent.OrderId);
if (orderevent.OrderId == 2){
if (orderevent.Status != null){
if (orderevent.Status == OrderStatus.Filled){
Transactions.CancelOrder(1);
Transactions.CancelOrder(2);
Transactions.CancelOrder(3);
}
}
}
//Log("OrderStatus marketorder" + order.Status);
//Log("OrderStatus limitorder" + limit.Status);
//Log("OrderStatus stoporder" + stop.Status);
//Console.WriteLine("an order event happened");
//Console.WriteLine("the order status: "+orderevent.Status);
//Console.WriteLine("the order fillprice "+orderevent.FillPrice);
/*if (orderevent.Status == OrderStatus.Filled){
order.Cancel();
}*/
}
}
}

 

can someone give me a very basic example on how to do an order on eurusd with a stop loss and take profit? and also in such a way that the profit doesn't stay unrealized?

Update Backtest







Please share an algorithm (use the attach backtest button below) that shows the issue you are experiencing.
This procedure helps us, the community, to answer your questions quickly and effectively.

Check out the following thread:
Support for one-cancels-the-other order (OCO ) #1700
Let us know whether it answers your questions.

To close all the positions and avoid unrealized profit, you can use:

public override void OnEndOfAlgorithm()
{
Liquidate();
}
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


Ok here is the backtest.

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Please check out the attached backtest.
I have simplified your algorithm so that you can have a base algorithm to work on.
The main issue with your version was placing limit and stop orders with the same sign of the market order since they have to have a different direction.

If you have further question, please let us know.

0

The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


It works. Thank you so much.

0

Update Backtest





0

The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


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