Support Board
Date/Time: Mon, 10 Mar 2025 14:00:23 +0000
How to manage each scale IN (layering) Individually & have automate BE for scale IN
View Count: 946
| [2022-03-27 11:13:06] |
| Ahmed Metwalli - Posts: 4 |
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I have a bracket with only stop-lose. On trending days, I like to scale IN (layering). So when I go for the 2nd layer I would like the bracket to automatically move layer 1 stop to its entry and set up the new stop loss based on the bracket for the 2nd layer And when I go for layer 3 the bracket would move the stop loss of layer 2 to its entry and a new stop lose based on layer 3 would appear. And so on. Besides that, I would like to manage each layer individually. For instance, I could close partially or completely layer 2 and/or layer 3 and leave layer 1 for a swing trade. I went through Sierra. Date Time Of Last Edit: 2022-03-27 17:35:01
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| [2022-03-28 14:59:10] |
| John - SC Support - Posts: 38516 |
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The first item of note is that you do NOT want to use the "Scale In" feature of Sierra Chart for what you are doing. Using Scale In will add to the existing Stop rather than creating a new one. Now, that being said, without creating a custom study to manage your stops, the only way to do what you want would be to do move each stop manually to the breakeven price. You would not be able to use the Move to Breakeven options as Sierra Chart keeps a single Average Position, therefore if you use the Move to Breakeven button for the 2nd and 3rd Stops, you will not be moving just the one item, but all of the Stops to the same position, as the breakeven point is then calculated for the average position price. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-03-28 18:39:15] |
| Ahmed Metwalli - Posts: 4 |
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Hi John, thx for the reply. 1) Are you suggesting unchecking the scale in option in sierra so I could have normal multiple-layer entries? 2) how could I achieve Automated BE of the previous entry (layer) & at the same time manage each layer individually for scale-out? Is that even something possible to do? if yes could you guide me on which study or settings I should be adjusting? Thanks in advance. |
| [2022-03-28 19:21:24] |
| John - SC Support - Posts: 38516 |
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1) Yes. 2) The only way to do what you are wanting would be to create your own custom study or to handle it completely manually. There are no built-in studies that can do exactly what you are wanting. If you are interested, refer to the information on creating custom studies here: Advanced Custom Study Interface and Language (ACSIL) Or you can hire a programmer from our list here: List of Third Party Sierra Chart Study and System Programmers And there are a number of people that have free tools or are willing to help that may have what you want, or something close. Be sure to search the Internet and see what you can find. We have set also set this thread as a User Discussion for others to comment if they can help you. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-03-28 20:11:46] |
| Ahmed Metwalli - Posts: 4 |
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I'll be using a stop bracket. 1) Is there a way in which I could layer & move the BE of each layer individually manually? 2) Is there a way in which I could scale out each layer individually or is it just a LIFO type of scale-out? that would be all thx. |
| [2022-03-28 21:15:04] |
| John - SC Support - Posts: 38516 |
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1) Yes, absolutely. This is why we are stating not to use Scale In. This way you will see each Stop individually and you can move it on the chart to where you want. 2) You can not decide which order is removed when you close one. That is determined by your decision of how the Position Average Price is calculated. Refer to the information here: Trading Information Windows: How Average Price for Positions Is Calculated and Used For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-03-28 21:50:18] |
| Ahmed Metwalli - Posts: 4 |
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Regarding point 2, I would need to have scale-out checked so I could execute scale-out without closing the other positions right?
Date Time Of Last Edit: 2022-03-28 22:36:17
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| [2022-03-29 13:28:37] |
| John - SC Support - Posts: 38516 |
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From what we are understanding, you would want to use the Scale-Out feature. Refer to the information here: Attached Orders: Scaling Out For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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