$LOSS

Syntax

SET STOP $LOSS x

Parameters

How it works

$LOSS combines with SET STOP only. Instead of specifying a price distance, the instruction specifies a monetary outcome: when the unrealized loss on the position reaches x currency units, the platform closes it. Internally the money amount is converted into a price level using the position size and the instrument's point value, so the same x produces a tighter price stop on a larger position and a wider one on a smaller position.

The setting persists once executed. It protects the current position and every subsequent one until another SET STOP call overrides it, and SET STOP $LOSS 0 cancels the stop. A single unconditional call near the end of the code is the standard pattern.

On IG and PRT-CFD accounts the stop is attached to each individual order, so with cumulated orders every order carries its own money-based protection.

The target-side counterpart is SET TARGET $PROFIT. A target deliberately placed in the loss zone is a different, inverted form documented under Set Target Loss.

Examples

Example 1, MACD entry capped at a 200 currency-unit loss (ProBacktest)

myMACD = MACD[12,26,9](close)
long = myMACD crosses over 0
IF NOT LongOnMarket AND long THEN
    BUY 1 CONTRACTS AT MARKET
ENDIF
// Close the position once it loses 200 in account terms
SET STOP $LOSS 200

The strategy buys on a MACD cross above zero. Regardless of where the entry fills, the trade is abandoned once the open loss reaches 200 currency units.

Example 2, Money stop on a short position (ProOrder)

fast = Average[10](close)
slow = Average[40](close)
IF NOT ShortOnMarket AND fast crosses under slow THEN
    SELLSHORT 1 CONTRACT AT MARKET
ENDIF
// The same money cap works for shorts, no sign change needed
SET STOP $LOSS 150

The instruction is direction-agnostic. For a short position the exit level is computed above the entry so that the loss never exceeds 150 currency units.

Example 3, Money bracket with a 1:2 risk-reward ratio (ProOrder)

DEFPARAM CumulateOrders = false

IF NOT OnMarket AND close crosses over Highest[20](high)[1] THEN
    BUY 1 CONTRACT AT MARKET
ENDIF

// Risk 100, aim for 200, both in the instrument currency
SET STOP $LOSS 100
SET TARGET $PROFIT 200

Pairing SET STOP $LOSS with SET TARGET $PROFIT expresses the whole trade plan in money, which reads directly as risk-reward.

Common errors and gotchas

• Amount is per position, and size-dependent as a price distance. Doubling the number of contracts halves the price distance implied by the same x. After changing position sizing rules, re-check that the implied stop still sits outside normal market noise.
• Wrong SET pairing. The documented form is SET STOP $LOSS. The money-based target is SET TARGET $PROFIT, a separate keyword. Combining $LOSS with SET TARGET belongs to the inverted forms and behaves differently.
• Currency of the instrument, not the account. x is denominated in the traded instrument's currency. On instruments quoted in another currency than the account, the realized loss in account terms varies with the exchange rate.
• Shared stop slot. $LOSS, %LOSS, PLOSS, trailing stops and BREAKEVEN overwrite each other; only the latest SET STOP call is active. Choose one stop style per trade phase.

Related instructions

• %LOSS, stop loss as a percentage of the position price.
• PLOSS, stop loss as a distance in points.
• $PROFIT, take profit as a fixed money amount.
• $TRAILING, trailing stop as a fixed money amount.
• BREAKEVEN, moves the stop or target to the entry price.
• STOP, pending stop orders and the SET STOP family.
• Set Target Loss, target placed in the loss zone, the inverted form.
• TRADEPRICE, entry price of a given trade.
• POINTVALUE, currency value of one point, used in money-to-price conversion.
• LONGONMARKET, true while a long position is open.