Support Board
Date/Time: Tue, 26 Nov 2024 08:32:47 +0000
Use of trailing stop
View Count: 236
| [2023-12-11 11:46:53] |
| iamLL - Posts: 4 |
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Hello, I've been using a lot trailing stop on some other platforms, and now I've switched to Sierra, I'm looking for a similar behavior when using them. The typical use I have for them is for manually setting a trailing stop when price is very close to my target, so that I'm sure price is not gonna reverse on me (1st or 2nd TP as I usually have 2 TP for my positions). The main issues I faced so far are: 1) To me, it's not possible to modify a working order (original OCO stop from my trade configuration) and trail price 2) When I want to add a trailing stop from the trade management window, I need to disable "use attached order" and put a price instead of an offset -> I don't know how to switch from price to offset as entering a defined price is really hard when price is moving fast 3) When my target is hit (or my trailing stop) for half of the opened position for example, the trailing stop (or the initial target) doesn't disappear which leads to full position to be closed if I don't quickly react to delete one or the other order Are there any solutions to mitigate each of my issues to properly use trailing stop as I want? Thanks in advance for your help. Date Time Of Last Edit: 2023-12-11 11:51:19
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| [2023-12-11 18:44:22] |
| John - SC Support - Posts: 36286 |
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1) We are not sure what you are stating here. 2) First, refer to the following regarding setting up Trade Configurations, so you can quickly select the configuration and have the Trade Window set the way you want: Basic Trading and the Trade Window: Using and Changing Between Different Trade Window and Attached Orders Configurations There is not a way to set an offset for a primary order (there is for Attached Orders). 3) The reason for this is that the Trailing Stop that you are entering is not part of an OCO group - it is just a single order out there. So there is no connection for it to close when one of the targets is hit. You may want to enter the Trailing Stop as an Attached Order so that you can enter an offset and have it be part of the OCO group. To do this after the initial order is placed with the Targets, you would use the Order Type of "Send Attached Orders by Position". Refer to the following: Order Types: Send Attached Orders - Position/Price Or, you may want to use a "Triggered Trailing Stop" with your initial setup, but place the stop far away and then have it move when you want it to. 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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