Power Language’s SetExitOnClose: How To Use It in Backtest and Live Trading

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In today's video we’ll give you an interesting insight into the MultiCharts keyword "setexitonclose". This keyword allows you to close all open trades at the end of the day and is therefore very useful to backtest intraday strategies.

✅ What is and how to use the reserved keyword "setexitonclose " ✅ How to insert it in a strategy in order to backtest it (with an example of a breakout system on Gold) ✅ How to use it to compare the performance of a system in intraday and multiday mode ✅ Moreover, since many people ask us if it is possible to use "setexitonclose" also for live trading, we'll reveal a trick to properly use this keyword also live!

Enjoy! 😎

0:00 - Intro 0:56 - Setexitonclose Definition 2:16 - Strategy 3:33 - Testing and Analysis 8:10 - Use in Live

ABOUT ME: Andrea Unger here, full-time Trader since 2001 and the only 4-time World Trading Champion.

Thanks to these accomplishments I am often invited to speak at conferences in Europe, the USA, Asia, and Australia. I am the author of several books, including the first in Italian about Risk Management in Trading, also translated into Chinese and English.

Through decades of experience, trials, victories, and defeats, I created the UNGER METHOD™: a scientific, systematic, replicable, and universal method with which, since 2015, thousands of traders have managed to become autonomous.

In fact, you may know that studies show that only 25% of traders make money, but 90% of these do it with systematic trading... Why then do trainers almost always teach discretionary trading?

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#AndreaUnger #powerlanguage #setexitonclose ... https://www.youtube.com/watch?v=1e-hnQZp7Aw