Support Board
Date/Time: Tue, 11 Mar 2025 01:22:23 +0000
Question about stop management
View Count: 715
| [2022-04-18 16:48:53] |
| User148596 - Posts: 217 |
|
Is there a way to have my targets move to BE if I get 5pts of MAE on a trade and then trail from there for every additional tick of MAE beyond the original 5pts of MAE?
|
| [2022-04-18 17:39:45] |
| John - SC Support - Posts: 38547 |
|
We assume you mean MFE (Maximum Favorable Excursion) rather than MAE (Maximum Adverse Excursion), as a move to BreakEven with an MAE would close your position. We believe that what you are wanting would be the Triggered Trailing Stop order type for this. You would then setup the Trigger at 5 points and have the offset by 5 points, which would give you the initial move to breakeven and then the trailing functionality after that. Refer to the following: Order Types: Triggered Trailing Stop For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-04-21 00:18:29] |
| User148596 - Posts: 217 |
|
Hi, no I do mean MAE. I’ll give you an example… I get long at $100 with a 10pt stop and a 10 pt target. Price moves against my position by 5pts. At this point I would like a trigger to automatically move my target from $110 down to $100 so that if price moves back to my entry my position will be closed. Currently I have to do this manually but with multiple targets it is difficult. I am setting a large emergency stop size in case sellers are extremely strong but with the hope that I will get a return move to my entry that will allow me to close the trade for a smaller loss while still protecting me on the downside with the emergency stop in case that return move doesn’t occur. Ideally at this point my stop could be triggered to trail back toward my entry even though the trade is still in losing territory. I know this is not a typical way of managing a trade so this optionally probably doesn’t exist but it would be a very unique functionality to have. |
| [2022-04-21 14:35:48] |
| John - SC Support - Posts: 38547 |
|
There is not a built-in order type to do this, but you can manage your Targets and have them move automatically using the Trade Management by Study study. In the Spreadsheet Study for Trading there is a cell for Maximum Open Position Loss (J32) that you could put into one of the data columns to get that information into the Trade Management by Study. Refer to the following: Trade Management by Study Spreadsheet Systems, Alerts and Automated Trading For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-04-21 14:38:55] |
| User148596 - Posts: 217 |
|
Okay thanks!
|
To post a message in this thread, you need to log in with your Sierra Chart account: