Virtual Stops

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Hi,

I am writing code from scratch and keep being told that I should be building in Virtual Stops so my orders are 'invisible' to brokers.

Problem is I have no idea where to start; None of the books I have discuss it and all the posts I have found on the subject are fairly dated with conflicting posts.

Is anyone able to direct me to a page / commentary where this code is discussed with an example so I can get an idea of how I am supposed to be writing and integrating this into my code.

Thanks in advance,

 
Don't be paranoid and you will make life easy for yourself.
 

Brokers will for sure push the Bid/Ask to hit your Stops and nail you in the ass. Just depends on which broker youre using.

If you want to use virtual stops:

Simple version

1. Dont use a SL on your orders

2. Follow the market price and when the price (both bid and ask) are firmly past your conceptual SL price,

3. throw a market order close on your deal.


Complicated version

same as 1. and 2. above but your conceptual SL is a bit higher (buy order) than your actual SL.

3. add your real SL to the deal and hope it doesnt hit it.


Trailing TP version

same as 1. and 2. above but

3. Lower your TP so that when the price rebounds, youre out. Better when combined with the Complicated Version.

 

hi


just put horizontal line on the chart, when price reach it then EA close order.


regards

 
hkjonus:

Brokers will for sure push the Bid/Ask to hit your Stops and nail you in the ass. Just depends on which broker youre using.

1. Dont use a SL on your orders
  1. Do you really believe a broker with millions of dollars of orders is going to move the market for just your one order? The market moves to hit all of the stops placed there. Don't put your stops where everyone else is.
  2. No SL, you loose connection, there goes your account.
 

Interesting, and thank you all for the quick reply.

I'll look into those things.

Regards,

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