Hi,

I'm new to the JForex platform and looking for a strategy that moves the stop to breakeven if a predefined trigger price is hit.
I used this feature on Ibs TWS a lot and miss it here.

Thanks!

See if you can make use of the following example:
viewtopic.php?f=65&t=35365&p=45666#p45666

Thanks for your help,

I saw this thread, but as far as I can see, it updates the stop at a certain time.
What I'm looking for is a stop which updates when a certain price is triggered.

I would like to mention that I'm new to JForex and also have no idea in regards to coding.

In my opinion this feature of a breakeven stop is really needed - at least it is essential for me

You could use a trainling stop, but this one will update only if the current price goes in your favour for at leas xx pips (where xx is minimum 10, maximum whatever you want).

For that, in a strategy you could use the methods in com.dukascopy.api IOrder interface, especially the setStopLossPrice() method.

void setStopLossPrice(double price,
OfferSide side,
double trailingStep)
throws JFException
Sets stop loss price. If price is 0, then stop loss condition will be removed. If trailingStep is bigger than 10, then trailing step logic will be applied for stop loss price. This method will send command to the server, getStopLossPrice() method will still return old value until server will accept this changes
Parameters:
price - price to set
side - side that will be used to check stop loss condition
trailingStep - if < 0 then adds stop loss order without trailing step. Should be 0 or >= 10

Throws:
JFException - trailingStep is > 0 and < 10 or when method fails for some reason

Consider checking the break-even condition on every every tick. This can be done by modifying the strategy in the linked topic in the following way:

package jforex.strategies.oneorder;

import java.text.DecimalFormat;
import java.text.SimpleDateFormat;
import java.util.TimeZone;

import com.dukascopy.api.*;
import com.dukascopy.api.IEngine.OrderCommand;

/**
 * The strategy on start creates one order and on price improvement 
 * adjusts its stop loss by using break even approach
 *
 * To fire the price adjustment, try manually lowering the SL by a significant amount
 */
public class OneOrderBreakEvenSLonTick implements IStrategy {


   @Configurable("Initial stop loss")
   public double initialStopLoss = 0.0002;
   @Configurable("Log values")
   public boolean logValues = true;
   
   private IConsole console;
   private IEngine engine;
   private IHistory history;
   private IOrder order;
   
   private Instrument instrument = Instrument.EURUSD;

   private final String label = "OneOrder";
   private double initStopLossPrice;
   private SimpleDateFormat sdf = new SimpleDateFormat("yyyy-MM-dd HH:mm:ss");
   private DecimalFormat df = new DecimalFormat("0.00000");

   @Override
   public void onStart(IContext context) throws JFException {
      engine = context.getEngine();
      console = context.getConsole();
      history = context.getHistory();
      
      sdf.setTimeZone(TimeZone.getTimeZone("GMT"));

      initStopLossPrice = history.getLastTick(instrument).getBid() - initialStopLoss;
      print("Start, initStopLossPrice: " + initStopLossPrice);

      order = engine.submitOrder(label, instrument, OrderCommand.BUY, 0.01, 0, 20, initStopLossPrice, 0);
   }

   @Override
   public void onTick(Instrument instrument, ITick tick) throws JFException {

      if (!instrument.equals(this.instrument))
         return;

      double risk = order.getOpenPrice() - initStopLossPrice;
      double newStopLossPrice = tick.getBid() - risk;

      if(logValues){
         print(sdf.format(tick.getTime()) 
               + " getStopLossPrice()=" + df.format(order.getStopLossPrice())
               + " getOpenPrice()=" + df.format(order.getOpenPrice())
               + " newStopLossPrice=" + df.format(newStopLossPrice)
               + " order.getStopLossPrice() < order.getOpenPrice()=" + (order.getStopLossPrice() < order.getOpenPrice())
               + " newStopLossPrice > order.getOpenPrice()=" + (newStopLossPrice > order.getOpenPrice())
         );
      }

      if (order.getStopLossPrice() < order.getOpenPrice() && newStopLossPrice > order.getOpenPrice()) {
         order.setStopLossPrice(newStopLossPrice);
         print("___________STOP LOSS UPDATED_____________");
      }

   }

   @Override
   public void onBar(Instrument instrument, Period period, IBar askBar, IBar bidBar) throws JFException {

   }

   @Override
   public void onMessage(IMessage message) throws JFException {
   }

   @Override
   public void onAccount(IAccount account) throws JFException {
   }

   @Override
   public void onStop() throws JFException {
      for (IOrder o : engine.getOrders())
         o.close();
   }

   private void print(Object o) {
      console.getOut().println(o);
   }

}

Thanks for your help guys, but I without any coding knowlegde I simply can't handle this - and trust it...

But, I tried the code and it opened a new position.
This is not what I need, I need an implemented breakeven stop - and after a bit of research I think I'm not the only one.

Don't get me wrong, but this is an essential ingredient, the platform needs. A trailing stop is not the same and does not offer the same possibilities to let a position run.

So please make it possible that a "real" implemented breakeven stop will be part of the JForex platform soon, as it is in many others.

Thanks in advance!

The position gets opened in order to show how the algorithm works.
The previous strategy follows the interpretation of the user. Trailing step is an option provided by the platform. Could you then describe more precisely yours?

A perfect breakeven stop in my opinion would be if one would be able to define a trigger price that if hit would move the stop to the entry pice of the trade. So the difference to a trailing stop would be that you don't define steps the stop is trailing, instead define a trigger for only one movement to breakeven.

One thing I would like to add. This all has a lot to do with trust. Even if it's great that there are smart guys which are coders and develop their own solutions, for me it would be far better if this would be implemented in the platform itself.

Thanks!

Please post your request in the Feature Request section in the Desktop Platform forum.