Support Board
Date/Time: Fri, 18 Apr 2025 04:12:40 +0000
Post From: A trailing short or long position strategy trigger
| [2025-03-25 21:53:30] |
| User580028 - Posts: 15 |
|
Thank you for your feedback. I think I was using the wrong terminology. What I'm trying to set up is not truly a "trailing take profit" but rather a mechanism where: 1. I enter a trade (let's say a short position when price reverses at 5,000) 2. I set an initial take profit target (5 ticks) 3. Once this initial profit target is reached, instead of exiting the trade completely, I want the position to remain open 4. At this point, I want a trailing stop to automatically activate, following the price movement (with a deviation of 2-3 ticks) 5. This allows me to capture additional profit if the trend continues, while protecting my gains if the market reverses This strategy lets me secure a minimum profit while giving the trade room to develop further. The trailing stop would continue to lock in profits as the price moves favorably, and exit the position when the market reverses by the specified amount. In crypto markets, I've used similar functionality that was labeled differently. If Sierra Chart has a way to implement this kind of order management - perhaps using a combination of profit target alerts and automated trailing stops - I'd appreciate your guidance on how to set this up. |