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Direct MessagesDate/Time: Mon, 28 Oct 2024 09:01:22 +0000
Post From: different reading for delta on 2 diff charts...
| [2024-10-10 20:37:40] |
| John - SC Support - Posts: 35538 |
|
Couple of question, I am curious is there a way to have a stop move only after price moves away a certain amount....so for example lets say I put a trade on and i have a 3 point stop...once price goes in my favor 8 points i want to move my stop to breakeven...is there a way to do this?
Yes, refer to the information on Move to Breakeven for Stops at the following link: Attached Orders: Move to Breakeven for Stop In addition, I generally set my targets at 3 times the risk taken....is there a way to set the targets to move when the stop is adjusted....so for example when i initially enter a trade my stop is fixed at three points and the first 2 targets are set at +9 and the 3rd is set at +12...but there are times that my risk should only be 2 pts my targets get adjusted based on moving the stop....so for example I enter a long ...the original stop is -3 points, 1st target is +9 and the 2nd target is +12....I immediatley move my stop to a -2.5 risk is there a way/setting to have my 1st target automatically move to +7.5 and the second target move to +10?
This could be done, but it is going to get a bit complicated, and we can't work it all out for you. You would have to do the following: - Add a Spreadsheet System for Trading to your chart. You are not going to use this for trading, but it contains information in column J that you will need. - Add a "Trade Management by Study" study to the chart. You will use this to reference where to move the Target(s) to. You will need one copy for each target you want to control. - In the Spreadsheet System for Trading, do not use Columns K, L, M, or N - these are special for order entry. In column O, you will enter the condition that you want in order to control one of the targets. Set this up so that when the condition is met, the result will be the price level at which you want the Target to move to. Note that since, you have the "Position Average Price" located in cell J9 (with Spreadsheet Columns I and J set to version 1). So you can reference from that price if that is what is best for you. For example, you could enter the following condition in Cell O3: = IF(AND(ID0.SG4@$3 - $J$9 > 2, $P$3 = 0), $J$9 + 4, 0) and the following in cell P3: = IF(ID0.SG4@$3 - $J$9 > 2, 1, 0) where ID0.SG4@$3 is the current price, $J$9 is the Position Average Price cell. Cell P3 is to ensure that the Target only moves once, otherwise the target would constantly move and would never be hit. This checks if the current price is more than 2 points above the Position Average Price and also that the target has not already moved, and if so, then returns a value of the Position Average Price + 4. - You then setup the Trade Management by Study to reference the subgraph for Column O and the specific OCO Target you want to move. The above is the sketch of what to do. We do not have the time to work it all out for you. Like we said, it can be done, but it's complicated. You could also do this in a Custom Study. Refer to the following for people that could code this for you: 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 |