buy or sell stop order after signal

victormork · 2017-05-11T10:20:53+00:00

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? )

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05/11/2017 at 11:20 AM #35189 quote

victormork
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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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This topic contains 5 replies,
has 2 voices, and was last updated by victormork
9 years, 4 months ago.

Topic Details

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