Avoiding setting stops too close to current price

sebgethin · 2021-10-18T08:50:09+00:00

I am using a strategy that finds an expected breakout and places a trailing stop close to the current price, currently set at 2 points below. That is, my order placement is currently; BUY size CONTRACTS AT MARKET SET STOP pTRAILING 2 However, when running this, it sometimes (emphasis on sometimes, it doesn’t always do this) gives me an error saying “You attempted to place a stop at a smaller distance than the minimum required by the broker” (or words to that effect). Is there a way to set a stop at the minimum distance required by the broker, or will I have to simply restart the strategy every time this happens?

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10/18/2021 at 9:50 AM #179850 quote
sebgethin
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I am using a strategy that finds an expected breakout and places a trailing stop close to the current price, currently set at 2 points below. That is, my order placement is currently;
```
BUY size CONTRACTS AT MARKET
SET STOP pTRAILING 2
```
However, when running this, it sometimes (emphasis on sometimes, it doesn’t always do this) gives me an error saying “You attempted to place a stop at a smaller distance than the minimum required by the broker” (or words to that effect).

Is there a way to set a stop at the minimum distance required by the broker, or will I have to simply restart the strategy every time this happens?
10/18/2021 at 10:31 AM #179853 quote

GraHal
Participant

Legend

Change your stop to > 10 points.

SET STOP pTRAILING doesnt work anyway.

Use a coded Trailing Stop by filtering for Trail in column B in here …

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10/18/2021 at 10:49 AM #179861 quote

sebgethin
Participant

New

Thanks @GraHal, that’s a super useful spreadsheet and I’m wondering how I ever got by without it!

As for the stop distance, the whole point of the strategy is that it catches losers very quickly and runs with winners, so setting a stop to be >10 points away would ruin its effectiveness – very small stop sizes are far preferable in this case. Is there a known way to find the minimum stop distance and set the stop equal to it? Perhaps through the use of error handling? Or would I have to go to more advanced software to handle that sort of thing?

10/18/2021 at 11:45 AM #179865 quote

GraHal
Participant

Legend

6 is about the minimum I think on DJI, less on some other Instruments, see here …

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/what-are-igs-indices-spread-bet-product-details

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Avoiding setting stops too close to current price

ProOrder: Automated Strategies & Backtesting

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This topic contains 3 replies,
has 2 voices, and was last updated by GraHal
4 years, 11 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	10/18/2021
Status:	Active
Attachments:	No files