Support Board
Date/Time: Wed, 27 Nov 2024 21:47:23 +0000
Modifying An Existing Stop Order to a New Trailing Stop Order
View Count: 1611
| [2021-04-06 15:23:45] |
| lvlupfinance - Posts: 3 |
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I would like to know how to quickly change my existing stop order to a new trailing stop order. For example: I enter into a position with a 10 tick initial stop and then after the contracts have moved up 10 ticks I want a new stop order to be trailing at 12 ticks. Additionally, if there is a way to do this while simultaneously cancelling the initial stop order that would be helpful. Thank you.
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| [2021-04-06 15:57:23] |
| John - SC Support - Posts: 36350 |
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Why not just use the Triggered Trailing Stop order type? Refer to the following: Order Types: Triggered Trailing Stop For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-04-06 18:49:36] |
| lvlupfinance - Posts: 3 |
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Thank you very much for the reply, that is essentially the tool I needed. However, I'm wondering if there is a way to manually alter a stop order when its in place. I know you can alter the stop price, but can you change it to a trail stop? Can you increase the distance of the trailing stop once it's placed? Whenever I manually drag a trailing stop it then returns to the original distance once the price moves. I appreciate the help.
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| [2021-04-07 08:56:10] |
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but can you change it to a trail stop? No. Can you increase the distance of the trailing stop once it's placed? Yes. Refer to:Global Trade Settings Windows: Adjust Trail Offset When Modifying Trail Order (Global Settings >> Chart Trade Settings >> General >> Order Entry) Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-04-07 15:28:37] |
| User476926 - Posts: 56 |
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Yes you can do this, it is one of the essential features I use. You just have to define your regular trailing stop distances, for sake of example let's say 6 Ticks and 12 Ticks (or a moving average line). Add to Control Bar two custom buttons: Customize Control Bar > Advanced Custom Study Button > ACS 1 and ACS2 Label one button "6T" and label the other "12T" Under studies in chart window, you then need to add: "Trade Management by Study" - twice (one for 6T and one for 12T). "Current Price Line" study. In Trade Management by Study select: Order type: Stops Controlling Subgraph: this is your "Current Price Line" study Trailing offset (Ticks): 6 ACS Control Bar button: 1 (this links to button 6T) Only modify stops in one direction: Yes Order adjustment timing: select either N seconds or close of bar Repeat for second Trade Management by Study but use: Trailing offset (Ticks): 12 ACS Control Bar button: 2 You need to have the chart window that includes Trade Management by Study selected, but you can now "single click" on either of your 2 control bar buttons and it will update the fixed stop to either 6 or 12 ticks behind Current Price. This will then continue to trail and update based on your selection in Trade Management of either N seconds or on bar close. |
| [2023-07-06 20:34:11] |
| Technical - Posts: 158 |
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Also, check Trade>>Auto Trading Enabled-Global
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