TOTAL, TOTAL, TOTAL – an important keyword
I just learned something new! I guess I never programmed a strategy that pyramided at different price levels and scaled out at different price levels.
Initially I thought no problem. But I couldn’t get it to work – I tried everything and then I came across the keyword Total and then I remembered. If you don’t specify Total in you exit directives then the entire position is liquidated. Unless you are putting all your positions on at one time – like I did in my last post. So remember if you are scaling out of a pyramid position use Total in your logic.
Why you have to use the Total I don’t know. You specify the number of contracts in the directive and that is sufficient if you aren’t pyramiding. The pyramiding throws a “monkey wrench” in to the works.