Support Board
Date/Time: Sun, 24 Nov 2024 20:54:10 +0000
A 2nd attached order that will automatically cancel the 1st attached order when triggered
View Count: 218
| [2024-05-06 19:02:31] |
| User112927 - Posts: 9 |
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Hello SC support, Thank you for such a great platform. My question is regarding to implementing a 2nd attached order that will automatically cancel the 1st attached order when triggered. Currently I have a 'move to breakeven stop follow by a trailing stop' setup within a single attached order (named BE). I would like to insert a new trailing stop attached order before the current attached order BE, which will automatically be cancel upon triggering the current attached order BE (aka reaching breakeven). Is it possible? Thanks in advance. Date Time Of Last Edit: 2024-05-06 19:04:42
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| [2024-05-06 22:50:50] |
| John - SC Support - Posts: 36238 |
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The only way to do this would be to create a custom study to manage these Stops for you. There is nothing built into the system that can do this. Refer to the following: Automated Trading From an Advanced Custom Study But we want to point that we do not understand the logic behind what you are wanting to do. If you have a Stop that is located between your position and another stop, and then you want it to go away when the further stop moves to break even - then why not just start the Stop at that location to begin with? We do not see the reason for inserting another stop into the situation. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-05-07 03:22:16] |
| User112927 - Posts: 9 |
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Thank you for your reply John, So my logic, or rather feedback/data from past result is that, my 'trailing stop offset before breakeven' A; 'at breakeven offset' B; 'trailing stop offset after breakeven' C; are three different values, where C > A > B. In my case, value C is the easiest and most flexible one to configure under Targets in trade windows, we can skip that. Now both A and B belong to the "Move To Breakeven for Stop" section in the trade windows. I explored my option there by setting Step 1 as 'Trail to Breakeven Offset Triggered' (refer back to value A, or Trigger Offset + Stop Offset), and Step 2 as 'Offset in Ticks Triggered' (refer back to value B). Unfortunately, It only works when B > A. TLDR, you are absolutely correct that there is no reason for inserting a stop before/after another stop if both stop are using the same offset value. Right now my best option seems to be attached order with 'Trail to Breakeven Offset Triggered' for value A, and Triggered Trail Stop for value C, then the BE button for manual adjustment to value B. Date Time Of Last Edit: 2024-05-07 04:23:34
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