Hello CorvidSys, I may have overlooked your answer to my question.
Many thanks for getting back! Cheers Markus ----- Original Message ----- From: B S To: [email protected] Sent: Saturday, March 06, 2010 6:00 PM Subject: Re: [amibroker] Re: What do I need Buystop/Sellstop for? I use IB - is there a way to limit the number of executions one would get using these orders? For example, say I am following 500 stocks and have a system similar to #2 below. I would have 500 buystop/sellstop orders out, but would only want to take the first 10 that get filled. Is there a way to cancel the remaining 490 automatically? Or is there an entirely different way to manage this? Thanks for your help. ------------------------------------------------------------------------------ From: CorvidSys <[email protected]> To: [email protected] Sent: Fri, February 26, 2010 1:53:05 PM Subject: [amibroker] Re: What do I need Buystop/Sellstop for? Buystop/Sellstop are limit (or market) prices that are managed by the exchange rather than triggered from your system. Two examples if where it can help you: 1. If an event triggers your system, let's say a MovingAverage crossover and let's also say that you are using the closing price of the bar that triggered that event as your entry Limit-Buy price, there is a good chance that the market will move away from your limit price by the time your order hits the exchange. If however you could determine what closing price would trigger the crossover, you could have a Buy-Stop sent to the market before that event happens. 2. For channel breakout/breakdown, where you have no idea whether the market will break above or below but you are interested of going long or short based upon which way it breaks, you could "bracket" that channel with a buy-stop and a sell-stop. If it breaks to the up-side you have a pre-existing order that is managed by the exchange, likewise if it breaks down. Of course with STOP orders, all exchanges will disclaim assurances that you will ever get filled, you just have a better chances of getting there. They are very useful order types once you know how to use them and learn to accept their limitations. --- In amibro...@yahoogrou ps.com, "Markus Witzler" <funny...@.. .> wrote: > > Hello, > > I wonder what I need buystop/sell stop for. > > Isn´t it just enough to specify buy rule > > buy = ... > > and then set the > > buyprice = ... > > To simulate a buy stop condition, IMO one would just need to set the buyprice accordingly. > > Where does buy stop here come into play? > > Thanks > > Markus > > > > __________ Information from ESET Smart Security, version of virus signature database 4668 (20091207) __________ > > The message was checked by ESET Smart Security. > > http://www.eset. com > __________ Information from ESET Smart Security, version of virus signature database 4668 (20091207) __________ The message was checked by ESET Smart Security. http://www.eset.com
