Using a Quagensia N Edition Strategy’s Money Management Section (N Edition Only)

Introduction

The “Money Management (Protective Stops And Profit Targets)” section is where Quagensia® N Edition users of any skill level can easily create some very basic money management rules that should be applied to all of this strategy’s open positions.

Note that if you want more control over your strategy’s money management rules, you can add highly customized, highly advanced money management logic to your strategy’s “When Bar Updates” section.

Click the “Add Trading Logic” link button at the bottom of this section to get started, or if this section already contains logic, place your mouse pointer over one of the items in this section and click either the icon that appears in the upper right of the item or click on any empty space within the item. A context menu will appear with a list of menu items containing all the things that you can do at the location where you clicked. To learn more about a given menu item, place your mouse pointer over the icon on the left of the menu item and a tooltip will appear.

To learn more about any item in this section, place your mouse pointer over the icon in the right or upper right of the item or place your mouse pointer over the label next to any editable field and a tooltip will appear.

Money management logic often needs to be added to the “When Bar Updates” section instead of the “Money Management” section.

If your money management logic requires access to market data, needs to be adjusted for a given open position as the trade progresses, requires a breakeven stop, or requires both a stop loss and a trailing stop, you should add it to the “When Bar Updates” section instead of the “Money Management (Protective Stops and Profit Targets)” section.

The “Money Management (Protective Stops and Profit Targets)” section is generally a good place to add simple stop losses, trailing stops, and profit targets as long as 1) their input parameters can be calculated one time only when your strategy is initialized, 2) your logic doesn’t need access to price data or indicator values, 3) it doesn’t require a breakeven stop, and 4) it doesn’t require both a stop loss and a trailing stop.

However, if your money management logic requires access to market data such as the open, high, low and close prices of the current bar or previous bars, needs access to indicator values of the current bar or previous bars, needs to be adjusted for a given open position on each bar, tick, or price change as the trade progresses, requires a breakeven stop, or requires both a stop loss and a trailing stop, you should add it to the “When Bar Updates” section instead of the “Money Management (Protective Stops and Profit Targets)” section.

To see examples of strategies that use Quagensia N Edition’s standard money management functions (such as “Set Stop Loss”, “Set Trailing Stop”, and “Set Profit Target”) in the “When Bar Updates” section and their corresponding tutorial videos, open the built-in Quagensia Strategies that end with the phrases “with ATR-Based Stop Loss”, “with ATR-Based Trailing Stop”, and “with ATR-Based Profit Target”. They are in the “Algos from Quagensia > Strategies > Strategies for New Users” folder in the Algo Explorer pane on the left side of Quagensia N Edition’s main window. Scroll down to the “Strategy Home Page” link in each of those Quagensia Strategies and click the link to view the corresponding web page that contains a tutorial video that shows how to add money management logic to the “When Bar Updates” section of the strategy.

More advanced users may also wish to create even more advanced money management logic in the “When Bar Updates” section using exit order functions from the “Submit an Order > Exit Long” and “Submit an Order > Exit Short” context menu folders rather than using standard money management functions (such as “Set Stop Loss”, “Set Trailing Stop”, and “Set Profit Target”) from the “Money Management” context menu folder. For instance, advanced users can create their own highly customized stop loss, breakeven stop, or trailing stop, or create a strategy with a combination of all three of these protective stop techniques using the Quagensia Function called “Exit Entire Long Position Using a Stop Order (By Entry Signal Name)” and create their own highly customized profit target using the Quagensia Function called “Exit Entire Long Position Using a Limit Order (By Entry Signal Name)”.

To see examples of strategies that use the exit order functions in the “Submit an Order” context menu folder in combination with one another to create money management logic with a stop loss, breakeven stop, trailing stop, and profit target in the same strategy, open the built-in Quagensia Strategies that end with the phrase “(W Exit Order Fxns)”. They are in the “Algos from Quagensia > Strategies > Strategies for New Users” folder in the Algo Explorer pane on the left side of Quagensia N Edition’s main window.

WARNING: With the exception of exit market order functions in the “Submit an Order” context menu folder, NinjaScript® strategies do not allow mixing of the two types of functions that exit positions just described, namely exit order functions in the “Submit an Order” context menu folder and money management functions in the “Money Management” context menu folder. For a given position entered with a given entry order signal name​ you have to do all of your money management logic with a mix of 1) exit market orders and 2) either i) exit order functions in the “Submit an Order” context menu folder that submit non-market exit orders or ii) money management functions in the “Money Management” context menu folder but not both types of functions that submit non-market exit orders to exit positions.

WARNING: NinjaScript® strategies do not allow mixing of money management functions that submit stop losses with money management functions that submit trailing stops, namely money management functions in the “Money Management > Stop Losses” context menu folder and those in the “Money Management > Trailing Stops” context menu folder. If you need a stop loss and a trailing stop for a given position entered with the same entry order signal name​, you can do this and more with exit order functions in the “Submit an Order” context menu subfolder as described above.

The Money Management Actions Built into Quagensia N Edition

The no-code Money Management Actions built into Quagensia N Edition are listed below with links to their help pages. Each action is displayed in the same subfolder in which you can find it in the Quagensia Desktop Application’s Algo Explorer and in the context menu that appears when you click on a location on your Quagensia Algo’s workspace where the action is allowed to be used.