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This money management script allows you to set a number of days to wait before purchasing a security that you have sold previously.
Imagine you purchased GOOG then sold it after few days on 5 July 2015. After 5 days your system generates a new buy signal to purchase GOOG again.
By adding the following money management script to your system you can define the number of days that the strategy needs to wait before purchasing the same security again.
If the "Days" value is set to 3 then in our previous example, the strategy would buy GOOG. If it is set to 10 then the strategy will simply reject GOOG trade and will start looking for signals from other securities. A signal to buy GOOG would be considered only after 10 days (after 15 July 2015).
The script works by tracking the OnNewPosition and OnClosePosition events. Each time, a new position is closed; it saves the security name with the close date in a list. When a new order is generated, it checks if the security was already added to the list and compare the current date with the previous close date. It then decides whether to accept or reject the order.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.