Support Board
Date/Time: Fri, 29 Nov 2024 22:40:28 +0000
Move targets to break even
View Count: 1263
| [2021-05-20 14:32:03] |
| MindPortal - Posts: 18 |
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Hello I'm looking for a keyboard shortcut to have my targets move to my entry price so if I'm down on a trade and price moves to break even it closes me out. I can achieve this by dragging my limit orders to my entry but this takes too long. The move targets to price shortcut moves my targets to the current price not my entry. Thank you
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| [2021-05-20 16:13:06] |
| John - SC Support - Posts: 36350 |
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You would want the "Move to Break Even" keyboard shortcut which is under File >> Customize Keyboard Shortcuts >> Trading Keyboard Shortcuts. Refer to the information here: Global Settings Menu: Customize Keyboard Shortcuts (Global Settings menu) Also refer to the information on Move to Break Even here: Basic Trading and the Trade Window: Main/C >> BE (BreakEven button) For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2021-05-20 16:13:30
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| [2021-05-20 17:47:04] |
| MindPortal - Posts: 18 |
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Thank you I'm familiar with that command, If I'm not mistaken that only works if you're up on a position. if you're down and you hit break even it will close you at the current price, not set your targets to break even and close when price returns to your entry.
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| [2021-05-20 17:49:32] |
| MindPortal - Posts: 18 |
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If I get down on a trade, I'll drag my limit targets to break even so if price returns to my entry I will get out at break even, If I hit the break even button and I'm down on my position, it will close me out at a loss.
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| [2021-05-20 17:51:09] |
| MindPortal - Posts: 18 |
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I'm using a two target order with BE set after the nearest target is hit. FYI
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| [2021-05-20 19:29:27] |
| John - SC Support - Posts: 36350 |
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Sorry, we did not understand the nuance of what you were looking for. There is not a keyboard shortcut that exists to do this. You would need to setup a Spreadsheet for Trading or a custom study to do what you want. Another option would be to use the Trade Management By Study study and have it setup to move your Target to the Break Even point (you would have to figure out a way to get that setup) and then just enable the study when you want the order moved. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-05-20 21:24:31] |
| MindPortal - Posts: 18 |
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Thank you for your response, it seems that this function would be very helpful and appreciated by me and other traders, is the any chance to have it added to the improvement suggestion list? Thanks!
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| [2021-05-21 18:53:54] |
| MindPortal - Posts: 18 |
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Hello, I found out hoe to create the functionality using the trade management study, my last issue is I can only have it be a toggle button, not a direct execution like the break even button works. the problem being if the study is toggled on when a order is placed it will immediately close the position. would using an alert study to toggle the button off after pressed be a solution? Thank you
Date Time Of Last Edit: 2021-05-21 19:11:32
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| [2021-05-21 20:16:56] |
| Sawtooth - Posts: 4122 |
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If the Trade Management by Study study sees a zero value, it does nothing, so you could use the Spreadsheet Formula study to only output a price when the necessary condition exists. Then you wouldn't need to directly toggle the Trade Management study on/off.
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| [2021-05-21 23:43:02] |
| MindPortal - Posts: 18 |
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Thank you, I’ll try that, so there’s no way to make it a non toggle button?
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| [2021-05-24 15:40:37] |
| John - SC Support - Posts: 36350 |
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so there’s no way to make it a non toggle button?
No, there is not an option for this to be different. You would have to develop your own study to have a button that works the way you want. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-05-11 18:47:37] |
| User272232 - Posts: 3 |
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Hello there, I would also add that this functionality would be appreaciated. Just like you have a button to move the stop to b/e when you are in an unrealized profit it would be great to have a button to move the target to b/e when you are in an unrealized loss. For context, the reason for this is that when you are scalping and fairly quickly realize that the trade is not or will not work you would want to be able to get out at b/e on an uptick before price starts to actually go lower. This is obviously very time sensitive so it would be great to have a dedicated hotkey and/or button for that. On a separate note, for everyone's benefit, I am currently using a hotkey for the "Target Order | Tick Up/Down" Trading Command. When keeping the key pressed it moves pretty quickly but still, a dedicated immediate button/trading command would be best! |
| [2022-08-10 14:42:48] |
| Techotomy - Posts: 104 |
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Any progress with this? This button would be super helpful.
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| [2022-08-18 11:47:13] |
| Rui S - Posts: 190 |
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I agree. +1 |
| [2023-01-15 11:00:52] |
| User366051 - Posts: 5 |
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Yes, me too :) +1 |
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