Dynamic StopLoss depending on psychological number

[Aqua-Life]

Hi all,

I was wondering if it is possible to let a strategy check if a StopLoss is set close to a round number such as 1.2501.

For example; When I am Long and my original rules tell the strategy the StopLoss has to be at 1.2501, I'd rather have them at 1.2498 because of the psychological number.

Is it possible to have something like; IF price ends with ....01 THEN set StopLoss 3 pips lower at ....98.

Thanks in advance!

[koganam]

Hi all,

I was wondering if it is possible to let a strategy check if a StopLoss is set close to a round number such as 1.2501.

For example; When I am Long and my original rules tell the strategy the StopLoss has to be at 1.2501, I'd rather have them at 1.2498 because of the psychological number.

Is it possible to have something like; IF price ends with ....01 THEN set StopLoss 3 pips lower at ....98.

Thanks in advance!

if (StopPrice - (int)StopPrice < 0.0002) StopPrice -= 0.0003;

[Aqua-Life]

Thanks for the input. I get the first part of your coding, but how is the strategy supposed to know what the StopPrice should be? (1.2498 in my example, but for diffrent pairs there are different numbers of course)

if (StopPrice - [COLOR=Red](int)StopPrice[/COLOR] < 0.0002) StopPrice -= 0.0003;

[koganam]

Thanks for the input. I get the first part of your coding, but how is the strategy supposed to know what the StopPrice should be? (1.2498 in my example, but for diffrent pairs there are different numbers of course)

if (StopPrice - [COLOR=Red](int)StopPrice[/COLOR] < 0.0002) StopPrice -= 0.0003;

I coded exactly what you wrote. If you want something else, you would have to change it to handle that. For example if you wanted to make it 2 ticks below the round price, then that is what you would code.

if (StopPrice - (int)StopPrice < TickSize * 2) StopPrice = (int)StopPrice - TickSize * 2;

[happypappy]

I've just done this in notepad during a meeting so I don't know if the code is write but I hope it helps....

int reduction = 1;
string psych[8] = {"00","05","10","25","50","75","90","95"};
string lvl;

foreach(lvl in psych)
{
	if(Convert.ToString(SL).EndsWith(lvl))
	{
		if(Position.MarketPosition==MarketPosition.Long)
		{
			SL = SL - (reduction * TickSize)
		}
		if(Position.MarketPosition==MarketPosition.Short)
		{
			SL = SL + (reduction * TickSize)
		}
	}
}