Two Set Strategy, Only 1 Set Active at a Time. How to universally exit strategy when one set exits?

adwaitv10 · September 5, 2022, 6:10pm

Requirement :: Need to either take entry on buy side or sell side based on some condition. After entry on either buy side or sell side, wait for another condition to take exit. After exit, start strategy from beginning that is take a trade from either buy or sell depending on condition.

Approach :: Two sets are constructed. One for buy and one for sell. If entry in one set is taken, restricting entry in another set using positions details keyword. After one set entry and then subsequent Set exit. The strategy is stuck in live-entered status. How to automatically move it to Exited status so that it can be reactivated based on reactivate after setting?

Note :: Condition for exit is not based on PnL so can’t put the condition directly in universal exit.

raghu7089 · September 6, 2022, 11:58am

Whats the issue with Live-Entered status ? I have seen strategies still take entries when they are in live-entered state, it need not necessarily be in Active state to take entries. (This from my observations of my strategies).
If you still need it to be in Exited state, then try to exit from Universal Exit. I know this can be tricky to put exit conditions for both buy and sell in one block but dont think there’s any other way.

adwaitv10 · September 6, 2022, 2:04pm

The problem with live-entered status is that it is considered as one single trade till universal exit is reached. With this it is not possible to track the individual trades which were taken.

InnInv · September 12, 2022, 6:33am

Perhaps a combination of “Open Position” == 0 AND “Traded Value” > 0 in the Universal exit would work. “Traded Value” > 0 is necessary to prevent from universal exit being satisfied before Entry. Disclaimer: I am learning/ paper trading with a free a/c on TT. So, please use your discretion to use this solution. Good luck,

Sharad · September 12, 2022, 10:16am

Assuming SET1 in is long entry and SET2 is short entry you can try these conditions in Universal Exit, they should work. (Chose correct instrument which you are trading in place of NIFTY 50)
Note: In Traded Instrument Keyword when chosen “Exit” under ‘Condition type’ leave the ‘Leg Number’ as ‘None’ as there are no legs in Set Exit condition. Only set number to be given and Condition number will always remain 1 as there is only 1 set exit in each set.