Support Board
Date/Time: Tue, 15 Apr 2025 12:36:16 +0000
Continuous trail to breakeven while scaling into a position?
View Count: 45
| [2025-04-09 20:25:29] |
| n8trading - Posts: 44 |
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Is there a way to have a continuous trail to breakeven so that you can get into a position with a single contract for example and as you scale into the position with additional contracts, it will continue to move the stop to breakeven? If it's not possible, would you please consider it an enhancement request to possibly add in the future? Thank you, |
| [2025-04-09 21:51:56] |
| John - SC Support - Posts: 39274 |
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We assume by "Trail to Breakeven" that you are wanting the Stop to trail price until the Stop gets to the breakeven price and then stay at that price. We do not have an order type that does this. But you can build it either with a couple of studies or with a custom study. Using the available tools, you would need the Spreadsheet System for Trading (you do not need this to actually trade, just to get the Entry Fill Price to know where the Breakeven point is) and the "Trade Management by Study" to actually move the Stop. To start, you would setup a column in the Spreadsheet System for Trading to get a line at the level where you want the stop to move to, so the formula would look like the following: =IF(ID1.SG3@$3 < $J$48 + 10, ID1.SG3@$3 + 2, $J$48) The above will create a line at the last price plus 2 points as long as the price is less than the entry price plus 10 points. Once the last price gets above Entry plus 10, then the line will stay at the entry price (breakeven). There is a lot you can play with to get this formula to do exactly what you want. The above just gets you started. The Trade Mangement by Study can then be set so that the Stop will move to that line. Refer to the following: Spreadsheet Systems, Alerts and Automated Trading Spreadsheet Systems, Alerts and Automated Trading: Last Entry Fill Price [J48] Attached Orders: Study Controlled Targets and Stops 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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