Support Board
Date/Time: Thu, 28 Nov 2024 06:33:34 +0000
Post From: help with breakeven orders
| [2023-05-30 13:16:16] |
| Ed Goppelt - Posts: 41 |
|
I need help with some attached orders I'm trying to develop. I think (but am not sure) that breakeven orders would do the trick, but so far I've been unhappy with the results. Can you help? Big picture, I want a single multipurpose stop order, if possible, that will ride herd over four profit takers. The order will protect me if price moves against me from the start and also if I book some profit before the market turns. Desired behavior: stop order will hang out at least 1 ATR-daily from the market price to give my setup lots of room. It will behave initially as a trail stop order. If the first profit taker is hit, the stop order will cross price and move a shorter distance from the former position of the profit taker and resume trailing to lock in my profits. I have tried the following: 1. A triggered trail stop with BE triggered by "Offset in Ticks Triggered." 2. A trailing stop with BE triggered by "Trail to Breakeven" 3. Just a simple sequence of profit takers and trail stops above and below my position, perhaps with the order of the trail stops reversed. I'm pretty sure this would work. |