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Direct MessagesDate/Time: Mon, 16 Sep 2024 19:07:27 +0000
Post From: Move To Breakeven
| [2024-07-25 16:03:11] |
| John - SC Support - Posts: 34450 |
|
Let's say I have a buy limit at 100, and 1.5:1 is at 105. Then the "Trigger Offset" is 5 and the "BE Level Offset" is 0. Correct?
Correct. I guess I'm confused by the "BE Level Offset" cos I don't understand what's its purpose. The docs say: "If you specify 1 for the Breakeven Level Offset, the breakeven level price is 100 and the Tick Size is 1, then a Sell Stop will be moved to 101 when triggered."
That seems to accomplish the same thing as the "Trigger Offset". It does not accomplish the same thing at all. The trigger offset is how many ticks before the "Move to Break Even" will occur. The "BE Level Offset" lets you set an offset from the break even price to where you want the Stop to move to. Here's an example (these are all Buy examples) - let's say you want to trigger the Move to Break Even at 5 ticks above entry price, but you don't want to lose all the profit you had made should things turn around, so you want the Stop to move to 2 ticks above break even. In this case, you would set the following: - Trigger Offset: 5 - BE Level Offset: 2 You can also specify a negative value and your Stop will move to that position below the entry price. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |