buy or sell stop order after signal

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  • 05/11/2017 at 11:20 AM #35189 quote
    victormork
    Participant
    Veteran

    How can I create a buy stop order after my conditions for entering the market has been fulfilled? So instead of opening the position at the open of first candle I was a stop order to be placed 2 points down.

    (I want to use the idea from the PRT manual p82 of using an order distance but can I do so if my signal is triggered on the last candle and not a predefined level? )

    05/11/2017 at 11:36 AM #35192 quote
    victormork
    Participant
    Veteran

    never mind I think I found the answer

    spread = 2
orderdistance = 2
price=close-(oderdistance+(spread*pipsize))

buy 1 contract at price stop
    05/11/2017 at 6:41 PM #35234 quote
    Eric
    Participant
    Master

    Maybe you should use limit instead of stop?

    05/12/2017 at 7:43 AM #35273 quote
    victormork
    Participant
    Veteran

    But i want a buy order to be activated when the price is coming down. Isn’t limit when the price break through from below?

    05/12/2017 at 3:22 PM #35341 quote
    Eric
    Participant
    Master

    As i understand it (IG)

    Limit = if you want to set a buyorder or sellorder at a better price than current price

    Stop = if you want to set a buyorder or sellorder at a worse price than current price

    I did something similar (stop instead of limit) and it worked fine in backtest but on demo it failed, so be careful

    05/13/2017 at 10:16 AM #35397 quote
    victormork
    Participant
    Veteran

    Thanks for your input Eric. I’m not going to spend any time on this. After having a closer look at it, the improvements on the result was not good enough.

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buy or sell stop order after signal


ProOrder: Automated Strategies & Backtesting

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victormork @victormork Participant
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This topic contains 5 replies,
has 2 voices, and was last updated by victormork
8 years, 10 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 05/11/2017
Status: Active
Attachments: No files
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