OmniTrader Forum : OptionTrader : OptTrader 6 Trade Plan Cred Sprds partial exit

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OptTrader 6 Trade Plan Cred Sprds partial exit

Digitaldood

Posts: 10

Joined: 3/3/2009
Location: Allen, TX

Subject : OptTrader 6 Trade Plan Cred Sprds partial exit
Posted : 11/7/2021 10:56 AM
Post #48394

I have a strategy that I'm using Option Trader 6 with a Credit Spread trade plan that I've created, and I'm scaling out with 50% at one profit level (25%), and the other 50% at a higher level (75%) see attached pics.
I've used normal credit spread trade plans on many other strategies exiting 100% with no problems (well, there are some but they are beyond the scope of this issue).
The problem I'm having with doing this is that when I run it on my test symbols (17 symbols) most of them show a trade in progress for over 2,000 days.
I have a Position Expiration Exit in my trade plan for 2 days before expiration. Plus, my test settings are only going back 1,000 days for the BT and 250 days for FT.

In the picture of ALGN, you can see the trade started in 11/2014, well beyond the 1250 days back, and is currently making a profit of 137%, well above my second position profit of 75%.
I thought I've looked at everything, but can't see anything that I've done wrong. Is there a setting that I have incorrectly set, or not set, or is there a work-around for this? I can upload actual orders pictures of the trade plan if that helps figure this out.

Thank you,

Jim

Attached file : ALGNTrade.jpg (446KB - 244 downloads)

Attached file : TradePlanOverall.jpg (91KB - 253 downloads)

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Digitaldood

Posts: 10

Joined: 3/3/2009
Location: Allen, TX

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Subject : RE: OptTrader 6 Trade Plan Cred Sprds partial exit
Posted : 11/7/2021 11:54 AM
Post #48395 - In reply to #48394

Well, I just answered my own question...

I added another Position Expiration Exit to the final step and it is now running like it should. Hope this helps someone someday!!

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mgerber

Posts: 40

Joined: 12/18/2003
Location: Issaquah, WA

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Subject : RE: OptTrader 6 Trade Plan Cred Sprds partial exit
Posted : 11/7/2021 12:22 PM
Post #48396 - In reply to #48395

Thanks for the post, Jim.

For my own edification, would you please post the updated TP?

I just want to make sure that I am understanding your solution, compared to the original TP.

--Mark G.

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Digitaldood

Posts: 10

Joined: 3/3/2009
Location: Allen, TX

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Subject : RE: OptTrader 6 Trade Plan Cred Sprds partial exit
Posted : 11/7/2021 1:46 PM
Post #48397 - In reply to #48394

Mark,

I've attached my updated TP - I also added another Position Fixed Loss Stop since the one in Step 2 would not fire if the TP moved to Step 3. I'm still testing with SW to see if there is a good / better stop to use in step 3.

Attached file : TradePlanOverall02.jpg (211KB - 250 downloads)

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mgerber

Posts: 40

Joined: 12/18/2003
Location: Issaquah, WA

User Profile

Subject : RE: OptTrader 6 Trade Plan Cred Sprds partial exit
Posted : 11/7/2021 3:44 PM
Post #48398 - In reply to #48397

Got it!

Please keep us posted with your progress; much appreciated.

--Mark G.

https://www.omnitrader.com/currentclients/otforum/thread-view.asp?threadid=16493&posts=5