stoploss/takeprofit

[bitsnpcs]

Hi there

Very new to trading and just got this up and running and I have to say its very impressive.

Initially I was hoping to use the software to make simple take profit/stop loss calls at binanace, is this possible? and if so what is the way to program the software to for example

Buy order     0.0255555 AION/ETH
Sell orders    1-10% 2-30% 3-50% 40-100%
Stop Loss     -10%

Thank you in advance I am still learning And I am sure I will use the strategies at some point but for now want to keep things simple

[bitsnpcs]

49 views and not one reply? Does anyone know?

[nmikaty]

Hi there

Very new to trading and just got this up and running and I have to say its very impressive.

Initially I was hoping to use the software to make simple take profit/stop loss calls at binanace, is this possible? and if so what is the way to program the software to for example

Buy order     0.0255555 AION/ETH
Sell orders    1-10% 2-30% 3-50% 40-100%
Stop Loss     -10%

Thank you in advance I am still learning And I am sure I will use the strategies at some point but for now want to keep things simple

You cannot pass take profit or stop loss orders, only market price orders.

However you could create a custom strategy that continually checks for market price and takes profit or sells at predefined prices. But remember Gekko will only check the price once the candle is closed. So you could sell below your initial target (Gekko can check price every 1 minute candle).

A while ago I implemented a stop loss on one of my strategies to test it. You could call it a "soft" stop loss.

[zappra]

Yep I've tried a "soft" stop by monitoring the close price of 1 minute candles. Trouble is of course, cryptos can move a lot in 1 minute which means your actual losses vary a lot.

[richard]

Yep I've tried a "soft" stop by monitoring the close price of 1 minute candles. Trouble is of course, cryptos can move a lot in 1 minute which means your actual losses vary a lot.

Yes, this is looking like a major impediment for Gekko.

Using candles as the 'hard right edge' of the chart means you'll be losing more than just a little to slippage.  The higher the time frame the worse the slippage.

As I mentioned in another thread, using 1-minute candles and larger moving averages (or whatever your indicator uses) seems to fix a number of problems.  But it still isn't perfect.  Lots of trades can happen in a minute.

Candles are for people to look at, not computers.  If you can't see the prices coming in as the current candle builds you (and your strategy) are at a disadvantage.

Live trading needs to watch the ticks.  Back testing does too.

Waiting for a 15-minute candle to complete when it has signaled a buy or sell in its first  minute doesn't make sense.  It means potentially large losses.

[susitronix]

hi richard
i agree with what can happen in one min but i encountered a strange behaviour when daytrading.
It seemed some times for the 15/min candles the ticks would indicate a massive hi/lo but then at candle.close it was more back to normal. (fake out)
As if i would beeing tricked by a smart bot/strategie that uses the human emotion as weeknes in order to win the money others loose. like we trick the fisch....doh!
And it coincidently seemed to match the binance 15min candles.