Support Board
Date/Time: Sun, 22 Dec 2024 05:09:03 +0000
Two-for-One Step Stop
View Count: 1265
| [2015-03-23 20:39:12] |
| User58524 - Posts: 2 |
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I frequently trade the Russell 2000 using a 12 tick target and a 12 tick trailing stop. I can't tell you how many times that I have been stopped out at break even. I am tolerant to allow trades to work when I first put them on but I hate giving up profits particularly in a split second. I would like to use my stop to squeeze the price target similar to a parabolic stop. My question is: Can you develop a trailing step stop that will move 2 ticks for each tick the price moves in favor of the target. In my 12/12 example above a trade that moves 6 ticks in my favor will be at stop break even. If it continues 3 more ticks in my favor it will be at stop 6 and if it moves 2 more ticks closer to target the stop and target form a two tick bracket. It least theoretically. Kind of pro-actively attacking the target from behind. Does this make any sense to anybody but me? F E |
| [2015-03-25 01:12:21] |
| cmet - Posts: 565 |
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I think what you're looking for is the Step Trailing Stop. http://www.sierrachart.com/index.php?page=doc/doc_OrderTypes.html#StepTrailingStop Stop Offset = How far away from your entry you want the initial stop (5 ticks, 10 ticks, etc) Step Amount = The increment that you want it to "step" on each tick in your favor. In this case, 2. I believe this only works if you use Attached Orders (ie: the stop order is placed along with entry order). |
| [2015-03-30 13:12:37] |
| User58524 - Posts: 2 |
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Thanks for your reply. I checked the link you sent and believe that the step amount in attached orders sets both the size of the step in ticks and the amount of ticks required before a step is taken. In other words, they will both be equal. If step is set at 2, the price needs to move 2 ticks in favor of the trade before the stop moves one step of 2 ticks. If step is set at 3, the price needs to move 3 ticks in favor of the trade before the stop moves one step of 3 ticks. What I am looking for is a scalpers stop where stop moves 2 ticks for every 1 tick of favorable price movement. In this way the stop is always closing in on price from behind kind of like a heat seeking missile. F. E. |
| [2015-03-30 13:24:39] |
| User52989 - Posts: 42 |
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+1 As a crude scalper, this would be an awesome feature for Sierra to have. Couldn't be that hard to program.
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