Support Board
Date/Time: Sat, 23 Nov 2024 15:09:41 +0000
Move stop to breakeven and then trail two remaining 2 targets
View Count: 174
| [2024-08-21 22:02:26] |
| DODSurf - Posts: 9 |
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Hello, I searched the KB, read the articles, as well as support chats but unfortunately I still need help. Objective: Enter 6 contracts on limit with An attached 5 tick Stop Loss that converts to a trailing stop Have 3 attached targets at 8, 16 and 24 ticks away Example: If Stop Loss is hit, cancel all 3 targets If 1st target is hit, move the Stop Loss to breakeven Then, trail the stop 4 ticks behind price So, if enter at 100, price moves to 108, first target is hit and move the stop to 100 Then, price moves to 116, stop is now trailing by 4 ticks and is at 112 Price hits 120, one runner remains with stop at 116 Stop continues to trail until last target is hit I really tried to get this setup but cant figure out if I need 2 separate stops, I am missing the conversion from breakeven stop to trailing stop, or? Thank you Date Time Of Last Edit: 2024-08-22 20:17:14
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| [2024-08-23 16:36:03] |
| DODSurf - Posts: 9 |
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Of course, one could simply create a trailing stop which moves to break even at the first target... BUT That means one is not able to adjust the trailing offset. I think the best approach is to use a second stop but I am not seeing how to close that second stop once the final target is hit. It remains open. Any guidance, advice, clues or the answer itself would be appreciated. Thank you |
| [2024-08-26 13:46:02] |
| John - SC Support - Posts: 36238 |
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You use just 1 Stop and you set it up to be a "Triggered Trail Stop". Then use the Move to Break Even functionality for the first move. The example at the following link and the one below it give you the setups for what you are wanting to do. Just combine the two items together into the one situation you want: Attached Orders: Target with Move to Breakeven and Trail Stop Example For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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