On condition orders

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  • 07/01/2024 at 2:31 PM #234651 quote
    Morpheous
    Participant
    New

    Hi guys, is there a way to create stop order if a limit order is filled?

     

    for example

    buy 1 contract at down limit
    sellshort 1 contract at up limit

     

    Can I automatically associate a stop with that if price reaches up or down and the appropriate order is filled?

    07/01/2024 at 4:58 PM #234661 quote
    robertogozzi
    Moderator
    Master

    No, as both could be entered, with the last one reversing the first one triggered.

    You can only place the first pending order and, when the candle closes, place the STOP order if the first one has been triggered.

    There’s a solution using only ONE pending order + SET STOP PRICE. Here is your example modified:

    buy 1 contract at down limit
SET STOP PRICE up

    if the pending order is not triggered, then SET STOP PRICE will have no effect. If it’s triggered, instead, SET STOP PRICE will remain SET until the trade is closed (not just one candle as pending orders do).

    Morpheous and Iván González thanked this post
    07/01/2024 at 6:12 PM #234664 quote
    Morpheous
    Participant
    New
    robertogozzi wrote:

    No, as both could be entered, with the last one reversing the first one triggered.

    You can only place the first pending order and, when the candle closes, place the STOP order if the first one has been triggered.

    There’s a solution using only ONE pending order + SET STOP PRICE. Here is your example modified:

    if the pending order is not triggered, then SET STOP PRICE will have no effect. If it’s triggered, instead, SET STOP PRICE will remain SET until the trade is closed (not just one candle as pending orders do).

    It’s not ideal, I thought maybe there might be a way of attaching the stop to the order as there is with manual trading on the platform.

    Of course I’ll have to work with what we have 😉

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On condition orders


ProOrder: Automated Strategies & Backtesting

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Morpheous @morpheous Participant
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This topic contains 2 replies,
has 2 voices, and was last updated by Morpheous
1 year, 7 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 07/01/2024
Status: Active
Attachments: No files
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