Setting Target Location(s) Sample Clauses

Setting Target Location(s). The Standard Core Engine includes up to 3 Targets for each trade entry. You can choose how many Targets to use and you can set the number of contracts for each Target if you are using more than one. This is covered in detail later in this document (see “Core Engine Components”) but will be summarized here. There are 3 methods of setting the Target Distance: • Ticks – Specify the distance to each Target in terms of a set number of ticks • RR – Specify the distance to each Target in terms of a multiplier of the distance from the Stop price to the Entry price • ATR – Specify the distance to each Target in terms of a multiplier applied to the Average True Range of the primary chart bars When a signal is generated, the lotsize of the trade must be determined. The Standard Core Engine includes up 3 ways to set the Trade Size: • Static – Always use the same lotsize regardless of the Stop distance • Fixed Cost – Define the amount of risk (in dollars) that you want to risk for each trade and the software will calculate the lotsize based on the Stop distance • Percent of Balance – Define the amount of risk (as a percent of the trading account balance) that you want to risk for each trade and the software will calculate the lotsize based on the Stop distance This is controlled by selecting one of the available options for the Sizing Strategy parameter: The advantage of using either the Fixed Cost or Percent Of Balance methods is that you can control risk by always risking the same amount of capital for each trade. One of these 2 methods is generally preferable if you are using the Algo-based stop Logic because the Stop distance will vary from trade to trade and using Static sizing may introduce excessive risk. For a complete description of Trade Sizing options, see the later section “Core Engine Components”).