I have no doubt that this has been answered somewhere on here before but I haven't been able to find it. I'm also certain there is a simple solution but it's escaping me. If someone could offer some advice I would really appreciate it.
I'm developing a strategy and I want to play around with using Limit orders. When my order entry condition is violated I want to get the current ask ( GetCurrentAsk() ) and add five or so ticks to the limit sell order.
So, for example, trading crude the current ask is 92.99. I want to take 92.99 and + 0.05 and use that value 93.04 as the Limit Sell order. I am assuming that if I try to use GetCurrentask()+0.05 the Ask will continue to move and so will my order. How do I get the current Ask, store it as a constant, add five ticks to it and use that for my order?
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The following user says Thank You to Big Mike for this post:
Thanks guys! I used Big Mike's example and that worked perfectly. In my particular strategy using limit orders makes a massive difference. It improved the back-test results by about 20%. I'll live sim that next week, hopefully it performs as well during real market conditions.