close long position at specific price

[berlinguyinca]

good morning. I would like to close a long position at a specific price. Say sell BTC at 40k. Right now the default price is calculated based on market price:

Which can lead to vastly and highly inflated wrong results, due to using 'Open' of the next candle.

I'm working on a trading bot, which uses internally different algorithms for automatic profit-taking on certain conditions. For example, close the positions when you hit 1%.

so is there some way to provide 'position.close(price)' instead of just 'position.close()"

I have no interrest in the buy/sell, long/short approach.

[kernc]

You can use Backtest(..., trade_on_close=True) which would execute next() right before the closing of a bar, making your position.close() call execute with the closing price.

Alternatively, you can set a take-profit price for the order:

self.buy(..., tp=40_000)

or for the existing trade by assigning to its .tp property:

trade = self.trades[0]
trade.tp = 40_000

[tombohub]

@kernc I am trying to buy on Open and sell on Close the same candlestick, but it doesn't seem thats possible, is it?

class Overnight(backtesting.Strategy):
    def init(self):
        self.buy()
       
    def next(self):
        self.position.close()
        self.buy()

bt = backtesting.Backtest(df, Overnight, trade_on_close=True)
stats = bt.run()
print(stats['_trades'])

It's now buying on Close and selling on Close next candlestick.

[replacementAI]

Can we please have a buy on open and sell on close feature? Its just not feasible with tp/sl.

[berlinguyinca]

yes sadly this does not seem to work for me :(

…

On Tue, Feb 9, 2021 at 4:55 PM tombohub ***@***.***> wrote: @kernc <https://github.com/kernc> I am trying to buy on Open and sell on Close the same candlestick, but it doesn't seem thats possible, is it? class Overnight(backtesting.Strategy): def init(self): self.buy() def next(self): self.position.close() self.buy() bt = backtesting.Backtest(df, Overnight, trade_on_close=True)stats = bt.run()print(stats['_trades']) It's now buying on Close and selling on Close next candlestick. — You are receiving this because you authored the thread. Reply to this email directly, view it on GitHub <#228 (reply in thread)>, or unsubscribe <https://github.com/notifications/unsubscribe-auth/AAAD73F4KXDQLFZAGHSCYRLS6HKPNANCNFSM4WJD2RAQ> .

-- ------------------------------------------------------------ Lead Developer - Fiehnlab, UC Davis gert wohlgemuth work: http://fiehnlab.ucdavis.edu/staff/wohlgemuth linkedin: https://www.linkedin.com/in/berlinguyinca

[tombohub]

@berlinguyinca that's too bad.. Are you using some other backtester where you can open and close on the same candlestick?

[berlinguyinca]

No I'm using backtesting.py and have a simple wrapper around it to work with my trading bot.

…

On Tue, Feb 9, 2021, 5:11 PM tombohub ***@***.***> wrote: @berlinguyinca <https://github.com/berlinguyinca> that's too bad.. Are you using some other backtester where you can open and close on the same candlestick? — You are receiving this because you were mentioned. Reply to this email directly, view it on GitHub <#228 (reply in thread)>, or unsubscribe <https://github.com/notifications/unsubscribe-auth/AAAD73CXUPNODE3EAW2DUT3S6HMNRANCNFSM4WJD2RAQ> .

[tombohub]

@berlinguyinca can you buy at Open and close/sell at Close the same candlestick?
How did you make it work?

[abhirathmahipal]

You can also try

self.sell(stop=x)
# or
self.buy(stop=x)

If the set price is between the high and low of the incoming candle, the order gets the price that you've specified.