Support Board
Date/Time: Sat, 23 Nov 2024 20:58:48 +0000
Move To Breakeven
View Count: 198
| [2024-07-25 05:46:01] |
| User634406 - Posts: 36 |
|
Hi, not sure if I got it right by reading the docs, so I'd appreciate it if you could confirm it. I want to set it so that stop goes to BE once if the price goes 1.5:1 in my favor. So if I got it right, it's just one step, type is "offset in ticks trigger", "BE level offset" is the fill price, and the trigger offset is whatever the amount of ticks from fill to 1.5:1 is. Correct? |
| [2024-07-25 14:12:22] |
| John - SC Support - Posts: 36238 |
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Almost. The "BE Level Offset" is an offset from the Break Even price, not the price itself. So if you want to be 1 tick away from the original fill price, you would enter 1 in this field. Refer to the following: Attached Orders: Breakeven (BE) Level Offset For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-07-25 15:07:44] |
| User634406 - Posts: 36 |
|
So the "BE Level Offset" can be 0? Let's say I have a buy limit at 100, and 1.5:1 is at 105. Then the "Trigger Offset" is 5 and the "BE Level Offset" is 0. Correct? I guess I'm confused by the "BE Level Offset" cos I don't understand what's its purpose. The docs say: "If you specify 1 for the Breakeven Level Offset, the breakeven level price is 100 and the Tick Size is 1, then a Sell Stop will be moved to 101 when triggered." That seems to accomplish the same thing as the "Trigger Offset". |
| [2024-07-25 16:03:11] |
| John - SC Support - Posts: 36238 |
|
Let's say I have a buy limit at 100, and 1.5:1 is at 105. Then the "Trigger Offset" is 5 and the "BE Level Offset" is 0. Correct?
Correct. I guess I'm confused by the "BE Level Offset" cos I don't understand what's its purpose. The docs say: "If you specify 1 for the Breakeven Level Offset, the breakeven level price is 100 and the Tick Size is 1, then a Sell Stop will be moved to 101 when triggered."
That seems to accomplish the same thing as the "Trigger Offset". It does not accomplish the same thing at all. The trigger offset is how many ticks before the "Move to Break Even" will occur. The "BE Level Offset" lets you set an offset from the break even price to where you want the Stop to move to. Here's an example (these are all Buy examples) - let's say you want to trigger the Move to Break Even at 5 ticks above entry price, but you don't want to lose all the profit you had made should things turn around, so you want the Stop to move to 2 ticks above break even. In this case, you would set the following: - Trigger Offset: 5 - BE Level Offset: 2 You can also specify a negative value and your Stop will move to that position below the entry price. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-07-25 16:30:35] |
| User634406 - Posts: 36 |
|
Alright, I see. So it's a commission offset :D Thanks John. |
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