Support Board
Date/Time: Fri, 14 Mar 2025 19:13:32 +0000
Setting up Move to break even for second targets
View Count: 1012
| [2022-06-27 14:25:11] |
| TradingInDemand - Posts: 24 |
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Not sure if sierra can do it but on tradovate the move to break even I think works different. I want to have it set up so my first TP gets triggered locking in profit and cutting some of my potential loss. I want my second size to be a runner but would like the stop to move down after my 2nd size has passed 6 points so if it comes back I lock in the 6 points with the ability to gain more points. My problem at the moment is when my 2nd TP gets hit it closes the trade immediately and this is frustrating because if price keeps moving in my direction I miss the trade. I have read through the break even section and it did not help me for second targets so if anyone has any real help it would be greatly appreciated Date Time Of Last Edit: 2022-06-27 17:23:31
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| [2022-06-27 15:08:13] |
| TradingInDemand - Posts: 24 |
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A better way to explain it possibly is like this Buy +2 at 100 TP -1 at 103 = 3 points Stop at 96 = 4 points after price moves 6 (106) points in my favor I want my stop to move down so my profit is locked in at 6 (106) points and if it moves above 106 then I want to take profit and the trade is done The reason is say price moves 20 points in my favor without ever coming back and touching 106 then I can consider taking profit but say price moves back to 106 then the trade is closed and I can not lose money on my second position |
| [2022-06-27 15:53:38] |
| John - SC Support - Posts: 38669 |
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We are not quite sure where you want to put your second Target, but for the stop, you can use the Move to Breakeven functionality with the option to move when Offset in Ticks Triggered. You can also specify an offset from Breakeven to move to, so you can place the stop at 106 (in your example). Refer to the following: Attached Orders: Move to Breakeven for Stop For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-06-27 16:12:50] |
| TradingInDemand - Posts: 24 |
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@john My second target is a runner that after 6 points can not turn red on me because the stop would move to 106 and I would manage the trade for how I see fit. The screenshot is how I have it now but it does not move the stop like you have explained. Maybe I have the BE level offset and trigger offset confused but anything helps |
 image_2022-06-27_111023595.png / V - Attached On 2022-06-27 16:10:26 UTC - Size: 20.4 KB - 177 views Attachment Deleted. |
| [2022-06-27 17:28:18] |
| John - SC Support - Posts: 38669 |
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The way you have it is that after 24 ticks of profit, the stop would move to the Breakeven + 1 tick.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-06-27 19:53:25] |
| TradingInDemand - Posts: 24 |
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What I ended up doing for anyone that has the same question
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| image_2022-06-27_145303446.png / V - Attached On 2022-06-27 19:53:04 UTC - Size: 19.63 KB - 207 views |
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