Support Board
Date/Time: Thu, 28 Nov 2024 06:35:13 +0000
Post From: help with breakeven orders
| [2023-05-31 11:44:58] |
| Ed Goppelt - Posts: 41 |
|
There is not a way, with the Trading Window, to setup the Stop as a Trailing Stop and then have the amount of trailing offset to be different once some condition is met. The trailing offset is only a single value.
Thanks for the clear reply. As I understand it, the Triggered Tailing Stop/Break Even functionality works as follows: A. Place Attached Triggered Trailing BUY Stop ====================================== 1. Assume a BUY order, single stop to cover all OCO groups 2. Stop Price = Parent Price + Stop Offset 3. Trigger Price = Parent Price + Trigger Offset 4. Market Price < Trail Price <= MarketPrice - Trail Offset 5. Behavior: ordinary stationery stop unless BE trigger price is triggered, in which case stop is moved by SC closer to the action. Apart from price change, stop's settings and behavior are not changed by SC. 6. Stop Price > Trigger Price > Parent Price B. Move to Breakeven for Stop Functionality =================================== 1. BE Trigger Price=Parent Price + Offset (Offset in Ticks Triggered) or OCO Level (OCO Group Triggered) 2. BE Types "Trail to Breakeven" or "Trail to Breakeven Level Offset" do not apply to the Stop Trigger Trail order. 3. New Stop Price = Breakeven + BE Level Offset 4. Stop does not yet begin to trail. C. Stop begins to trail 1. If (A)(3) Stop trigger price is met D. Stop triggers 1. If MP first descends to Stop's original stop loss location 2. If MP descends to Stop's New Breakeven location 3. While trailing Market Price, if MP descends to "profit preserving" stop BE Trigger Price < Stop Trigger Price < Old Stop Price 1. Is my understanding above correct? 2. Can BE Trigger Price < Parent Price be true? 3. Sequence of SC actions is determined by price, so "Move to Breakeven for Stop" functionality triggers first, then trail buy stop behavior is triggered. Both events are contingent on their triggers being met. 4. Can I safely create another Trail stop at the same level as the original triggered trailing stop assuming "Cancel orders on flat position" is checked? This would be done as an independent order, not a scaling out order. Thanks for your help understanding this order. There's certainly a lot going on here. |