Support Board
Date/Time: Sun, 24 Nov 2024 07:21:44 +0000
Block Impulse Trades Automatically
View Count: 197
| [2024-06-11 19:04:08] |
| TheMatadorTrader - Posts: 21 |
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I was wondering if there was a way to block trades that do not coincide with your system. For example if I am just trading using a 21 EMA and my only rule is long - above short below. Price is falling hard and is well below the 21 EMA. I accidentally (or purposely) submit a market buy. Is there an indicator or other way for Sierra automatically reject that trade? |
| [2024-06-12 13:12:51] |
| John - SC Support - Posts: 36238 |
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There is no built-in way to do this. We are not sure if there is even a way to do this with a custom study, as you would probably have to intercept every order and then have it process through your study. The information for trading from a custom study is here: Automated Trading From an Advanced Custom Study For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-06-15 06:26:08] |
| User61168 - Posts: 403 |
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Is there an indicator or other way for Sierra automatically reject that trade? - You most likely cannot reject the trade but you could very easily auto-exit the trade right away when your buy/sell entry condition is not met or no longer valid. You will pay commission/fees but hurting your wallet for silly mistakes is the best teacher :-) I have done this many times to rectify my impulses and it works like magic. Set a password to the auto-exit study with your eyes closed and self-train yourself towards disciplined trade execution :-) I also self regulate and avoid trading outside my preferred trade window or session, setting max trades per day, max quantity per trade, max wins or loss/day, max daily drawdown, max loss/day, %account loss/day etc etc. The possibilities are endless with a superior platform like SC. |
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