Support Board
Date/Time: Thu, 06 Mar 2025 11:27:52 +0000
Proper Attached Order Management for Multiple Entries (Move of Stop Losses to Break Even)
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| [2019-07-15 16:17:20] |
| User882915 - Posts: 32 |
|
Dear Sierra Chart Support Team, today during the NY session, something - in my eyes - strange from a trade management perspective happened after I had entered a total of two 1-contract-positions at two different prices when fading CL. This is the first time I did that (with 2 contracts that were entered at different price levels being in the market at the same time). Here are the details: I enter positions in the chart DOM and use attached orders. Trade management as defined under the tab "Targets" is currently as follows: Take Profit: +10 ticks Stop Loss: -15 ticks Move of SL to BE+1 at +5 ticks I entered the first short at 60.78. As price went higher, I added another contract at 60.87. The average entry price was shown as .83. So far, so good. Now price moved 5 ticks lower from my second entry and then the SL of that 2nd entry was moved to .86. Price then moved a bit higher again, taking me out there on one contract. Obviously, it is because of "first in - first out" rule that actually my FIRST entry's contract got killed there, because I saw that my DlyPL showed a loss of 8 ticks (80 Dollars + commission). Then instead of the 10 tick target of my 2nd entry's contract (which would be at .77), what remained on the chart was the entry price of the 2nd contract (.87), but the 10 tick target of my 1st entry (.68) and also its stop loss (.93). I fully understand that if a stop loss is triggered, the associated TP is cancelled (as per OCO functionality), which explains why the 1st position's SL and TP remained in place, although the second entry's contract was the one still in the market. However, from a trade management perspective, the described automatic activities of course don't make much sense (and led to a loss on one contract that could have been avoided). Hence, my question, please: Is there any way to have the management of at least the attached SL orders automated in a way that the stop losses of (in this case) both contracts will be moved to BE+1 after price moves +5 ticks from the AVERAGE entry price, and BOTH stop losses are actually moved to a position of +1 tick from the AVERAGE entry price simultaneously? If so, can you maybe point me to a description in the Sierra Chart documentation where it is described how to do it? Should there currently be no way to do that, could you please consider implementing such a functionality for a future update? Thank you very much in advance for your effort and reply. Kind regards |
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