Support Board
Date/Time: Sat, 23 Nov 2024 11:03:11 +0000
Multi Trailing Stop Setup
View Count: 148
| [2024-09-16 03:50:34] |
| User273277 - Posts: 58 |
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How can I set a trailing stop to tighten as a trade goes further into profit? For example 1 contract, no profit target, 1 regular stop and 2 trailing stop limits: Start with a regular 10 point stop. When trade hits 20 points profit, set trail stop to 15 points. When trade hits 30 points profit, change trail to 10 points. I tried creating multiple Stop: Trailing Stop, or Trailing Stop Limit, or Triggered Trail Stop Limit targets, but I get an error "Qty:2 Target/Stops NoMatch" probably due to using the same OCO Group making the stop quantities mismatched with the order entry quantity. Is this a simple config thing I need to set properly, or does this require a feature request or using a third party study of some kind? Date Time Of Last Edit: 2024-09-16 03:53:45
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| [2024-09-16 17:08:46] |
| John - SC Support - Posts: 36238 |
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The built-in order types do not allow for different trailing amounts. So you can not do it with these. It could be done with the "Spreadsheet System for Trading" along with the "Trade Management by Study" where you are using the "Spreadsheet System for Trading" to establish the trailing position and the "Trade Management by Study" will adjust the Stop to that position. Note that you are only using the "Spreadsheet System for Trading" since it has the information for the "Last Entry Trade Date Time" within it - you will not actually use this study for trading. The tricky thing in this is that you will have to use the "Last Entry Trade Date Time" in order to capture the highest price for the bars from that time so that your trailing line does not move back down. Refer to the following: Spreadsheet Systems, Alerts and Automated Trading Trade Management by Study For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-11-17 04:58:50] |
| User273277 - Posts: 58 |
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Thanks. This mostly works technically, but I'm having some logistical issues with this. This gets tricky with multiple entries/adds. The last entry trade date time updates with an add, and the trail stop from the first entry no longer updates from the correct price. Also remembering to disable auto trading when selecting trade window configs that don't use the multi trail is (human) error prone. It would be great to see this get built in as an order type. |
| [2024-11-18 15:23:38] |
| John - SC Support - Posts: 36238 |
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We have noted the request, but we can not say when we would get to any particular feature request. In the meantime, the best option for you would be to create a custom study that takes care of this for you. Refer to the following: Automated Trading From an Advanced Custom Study https://www.sierrachart.com/index.php?page=doc/SierraChartStudyAndSystemProgrammers.php 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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