Support Board
Date/Time: Mon, 23 Dec 2024 01:19:02 +0000
[User Discussion] - Buy Sell Stops
View Count: 2313
| [2014-12-20 23:57:29] |
| rwilliams1 - Posts: 346 |
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Is there a way to automatically have a buy or sell stop chase the current market price as an entry order? For instance, if price is in an uptrend, to have a sell stop entry order automatically follow below the market price by a certain amount as it goes up, and then trigger once the price retraces back down past the trigger price? |
| [2014-12-21 00:48:00] |
| Infinite - Posts: 134 |
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that would be a buy limit order!
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| [2014-12-21 01:01:35] |
| rwilliams1 - Posts: 346 |
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Not sure what you mean. A buy limit order does not chase the current market price and it assumes you're trading with the trend, just trying to get a lower buying price. I was referring to the opposite which is to trade the actual retrace with a sell stop order that trails the market price as it goes up.
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| [2014-12-21 02:45:52] |
| Sawtooth - Posts: 4141 |
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This table will help to understand order types and their position relative to current price. You'll notice a Sell Stop is never used for a long entry. |
 Trade_Order_Types.png / V - Attached On 2014-12-21 02:45:18 UTC - Size: 10.67 KB - 429 views |
| [2014-12-21 05:33:42] |
| rwilliams1 - Posts: 346 |
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Thanks for both of your posts. I'm familiar with order types, but in my example, I was not referring to making a long entry. As I stated in the example, I am trying to make a Sell Stop order to go short, not a long entry. If price is in an uptrend, then the Sell Stop order would trail below the price (like a parabolic SAR would do) until price retraces and the order is triggered to go short in the opposite direction.
Date Time Of Last Edit: 2014-12-21 05:53:05
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| [2014-12-21 06:22:43] |
| rwilliams1 - Posts: 346 |
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Okay, I figured it out. I would use a Trailing Stop/Stop Limit sell order beneath price. Does anyone know how to place this order so that it automatically is set a certain distance from the market price rather than having manually input a limit price in the dropdown menu? Any help is appreciated.
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| [2014-12-21 21:16:34] |
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Yes. Use the Trailing Stop order type: http://www.sierrachart.com/index.php?page=doc/doc_OrderTypes.html#TrailingStop It can be entered through a chart or Trade DOM and here are the instructions: http://www.sierrachart.com/index.php?page=doc/doc_ChartTrading.html#EnteringOrdersFromTheChart Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2014-12-21 23:06:43] |
| rwilliams1 - Posts: 346 |
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I read the links provided and have two questions. 1. Where is the Trail Offset input? I can't seem to find this parameter that will allow me to set the distance of the order from the Market Price. 2. In a fast moving market, it is impossible to use the chart or Trade DOM to enter an order at the exact distance away from the market price. Is there a way that I can set the Trail Offset amount and have SC automatically adjust it to the proper distance from the current market price? For instance if price is at 100 and I have a Trail Offset of 5, then when I place the order, my Trailing Stop will automatically set at 95 and begin to trail the market price up? Thanks again. Date Time Of Last Edit: 2014-12-21 23:54:03
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| [2014-12-22 03:46:03] |
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1. From documentation: The Trail Offset is automatically set by the difference between the original Stop price and the current price at the time the order was submitted. Or, in the case of an Attached Order, the Trail Offset is set by the Attached Order Stop Offset setting. 2. This is not supported and would require custom programming. Refer to "ACSIL Trading" in the documentation. Further help with this is not within the scope of our support other than to recommend looking at the source code for the Trade Management by Study study. Refer to this page for information about accessing the source code for existing studies and building your own custom study: http://www.sierrachart.com/index.php?page=doc/doc_BuildCustomStudiesDLL.html Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2014-12-22 04:34:35
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| [2014-12-22 04:13:21] |
| rwilliams1 - Posts: 346 |
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Okay is the Attached Order Stop Offset that you are referring the input shown in the attached pic? Also, I had a question about the replay chart. Does the Replay Chart list individual trade stats? It seems to only show the closed trade P&L and not individual trades stats like the simulation mode does. |
Private File Attachment Deleted. |
| [2014-12-22 04:36:10] |
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Refer to the relevant documentation for both of these questions.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2014-12-22 04:36:25
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| [2014-12-22 07:26:40] |
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The relevant documentation pages are as follows: Attached Orders Feature Trade Activity Log Both of them are in the Table of Contents: https://www.sierrachart.com/index.php?page=doc/doc_Contents.php Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2014-12-22 07:53:11] |
| rwilliams1 - Posts: 346 |
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One last unrelated question. Is there any benefit to having millisecond capabilities programmed into a study; will it help with faster fills in any way? Thanks again.
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| [2014-12-31 04:34:53] |
| rwilliams1 - Posts: 346 |
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I have searched and searched but cannot find any info in the documentation in regards to viewing individual replay trades in Trade Activity Log. My trading activity log when using the Replay mode still doesn't show any individual trades, it only shows the totals for Daily Net P&L, Drawdown, Closed P&L and the Last Trade P&L (under Trade Stats for Charts). I'd like to know if viewing individual trades made from the Replay Mode is possible (under the Trades tab)? Thanks. Date Time Of Last Edit: 2014-12-31 04:36:38
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