Hi everyone, I'm new to both Python and Quantopian, and I just can't seem to figure out how to set a stop-loss on my positions if I'm using the set_universe feature. Can anyone advise me on how best to do this? Thanks!
-Scott
Hi Scott,
You can use stop orders with any universe of stocks - your own custom list or using the set_universe convenience function.
When you choose to enter a position for a stock, you can always set the exit criteria to close the position. Below is a simple example of using a stop loss with set_universe. It's not a very intelligent algo, but it shows the idea. The algo will order 100 shares of the 90-92% universe (~160 stocks) and set a stop price at $500. I used a boolean variable for demonstration purpose, but its not good practice to include this in a live trading algo. Booleans are very brittle and don't recover easily from errors (late start, machinery issue, etc). Hope this helps and feel free to iterate further!
Cheers,
Alisa
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Thanks Alisa! This helps. Very cool platform and a great community here; looking forward to getting more involved as I get the hang of things.
order_target(stock, 100, stop_price = 10) Does it means that the stop loss is when the price is 10.00$ for each stock or -10$ for the entry price?
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by Quantopian.
In addition, the material offers no opinion with respect to the suitability of any security or specific investment. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Quantopian nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement or other investor, contact your financial advisor or other fiduciary unrelated to Quantopian about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances. All investments involve risk, including loss of principal. Quantopian makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.