STOP LOSS

[brianpotter]

i want to enter multiple markets using the ladder and leave stop losses if you right click you can place one stop loss but if you move to another market in your guardian you lose your stop loss which is a problem to me as i am risk averse . Can someone explain how using the ofset method i can simply leave stops 2 or 3 ticks below my entry price on multiple position within the guardian without them being erased . Thanks in advance

[gallybloke]

You could achieve this with the automation feature via guardian.

You would have to set up a rule files which would enter a trade at the best market price or you could go x amount of ticks above or below the best market price depending on if you wish to back or lay (the reason you would do this is so the automation file would fire in the trade but you could then move the money to the price point on the ladder you wish to get matched at.

Then set another rule file to green up if the your current P/L is say <= -5.00 for example - giving you a stop loss you can then move between as many markets as you like and automation will do the rest.

If you have diffrent stops based on ticks rather than values depending on where your entry point was i.e. 1.01-2.00 or 2.00-3.00 just write mulitple files with the correct green up amount (stop loss) and add the right one to each market you wish to enter.

Gally

[brianpotter]

Many thanks Gally Bloke will try this if i have any problems which is likely may come back to you cheers

[brianpotter]

Hi i am trying to back swansea at the market with a stop 3 ticks away not bothered about greening at the moment i have enclosed 2 screen shots i must have done something wrong as it has not triggered thansk for your help

http://screencast.com/t/bcJ0oQ22r7T

http://screencast.com/t/2rASfGY6E

[6thSense]

It looks to me like you have not set the timing correctly. The time window this automation is active appears to be 0 seconds.

This is probably why it is not firing a bet.

Try using a wider time window.

[brianpotter]

http://screencast.com/t/hxN5UXIzmptG

many thanks sixth sense i have enclosed a screen shot of parameters for stop loss will that now close the position 3 ticks above my fill ??

[6thSense]

No.

Stop on opening bet only applies to and if the opening bet is unmatched. It does not place a stop if the bet is matched.

It sounds like you need to use offsetting and place a stop on the unmatched offset.

[brianpotter]

now i am confused so say i want to set a stop three ticks below my entry what do i need to do in global setting drop down cheers

[6thSense]

Choose offset with stop. Set a stop level your chosen number of ticks away. Set the place at ticks a few ticks further on.

[brianpotter]

thanks again sixtn sense please see screencast cheers

http://screencast.com/t/CggriMxS

[6thSense]

Well, you want a 3 tick stop. So use the value 3 for the stop trigger box. For the offset it depends on what you are trying to do.

Have you tried a variety of settings? I recommend you put a few different values in and see what happens.

Do this in practice mode so you don't risk any money.

Start with a 1 tick offset and a 3 tick stop trigger. Place at 5 ticks. Use fill/kill 20 seconds. A batch setting of 1.

[brianpotter]

Hi 6th sense all i want to do is simply open at the market and set a 3 /4 tick stop i will sort the greening manually depending how much the market gives .

I can't understand why when you right click and add a stop it disappears if you switch markets could you tell me which boxes i need to fill cheers