setting a price stop

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TJ
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setting a price stop

Postby TJ » 21 Jan 2009

there is a question posted here:
http://www.elitetrader.com/vb/showthrea ... did=151193

How to set a price stop (instead of a $dollar amount or a trailing stop).

I would like to know the answer as well.

can someone help?

SUPER
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Postby SUPER » 21 Jan 2009

if Marketpositoin=1 then Value1=H[BarsSinceEntry +1];
if Marketposition=1 then sell next bar at Value1 stop;

if Marketposition=-1 then Value1=L[BarsSinceEntry +1];
if Marketposition=-1 then buytocover next bar at Value1 stop;

Hope it works

Regards
Super
Last edited by SUPER on 21 Jan 2009, edited 1 time in total.

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Marina Pashkova
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Re: setting a price stop

Postby Marina Pashkova » 21 Jan 2009

there is a question posted here:
http://www.elitetrader.com/vb/showthrea ... did=151193

How to set a price stop (instead of a $dollar amount or a trailing stop).

I would like to know the answer as well.

can someone help?


Hi TJ,

If you are talking abour a regular stop order, the syntax should be as follows:

---------------------------------
sell next bar at <price> stop;
---------------------------------

or you can also use a setstoploss:

---------------------------------
setstoploss(5*pointvalue);
---------------------------------

As for the question posted on EliteTrader, it's not quite clear what the trader wants to do exactly. He is talking about a stoploss for a short position. But the entry can be higher than 'high of the bar previous to the bar i sold'.

Finally, if there is a specific price (in his case 'high of the bar previous to the bar i sold) and this price has been remembered in var, a stoploss for a short position can be set using the following command:

----------------------------------
setstopcontract;
setstoploss(var-entryprice);
----------------------------------

Hope the above helps.

Regards.


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