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Direct MessagesDate/Time: Wed, 15 May 2024 06:45:37 +0000
[User Discussion] - Stops
View Count: 1033
| [2017-02-23 01:21:26] |
| User104854 - Posts: 441 |
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I am trying to do the following and I can't seem to get there. In this scenario I'm trading 5 contracts with 2 targets. The first target has 3 contracts and the 2nd has 2. I wish to do the following: Initially use one stop for 5 contracts. When the first target is hit my stop automatically moves to break even for the remaining 2 contracts. Once the stop is at break even I want to trail the highs of the remaining bars (if I'm long) until either the 2nd target is hit or the stop is hit. I've used the 'move to break even for stop' using OCO Group Triggered for step 1 but it seems like in this case I'd need 2 stops initially. I can't figure out in step 2 how I could trail the highs of the bars. I currently use the Trade Management by Study to trail the highs but I'd like this to trigger automatically once my first target is hit (or an alternative to accomplish my overall plan). I basically want to automate the move to break even followed by this trailing stop approach. Alternatively I could live with just triggering the TMS study once my first target is hit. Is this possible? Thank you. |
| [2017-02-23 23:21:13] |
| User104854 - Posts: 441 |
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Have you received this support request?
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| [2017-02-24 01:08:58] |
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but it seems like in this case I'd need 2 stops initially. One is all you need. I currently use the Trade Management by Study to trail the highs but I'd like this to trigger automatically once my first target is hit (or an alternative to accomplish my overall plan).
You can do this but you will have to modify this study to accomplish this and this is not within the scope of our support. So either you need to do this yourself or hire a programmer to do this for you.We will not provide programming help. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2017-02-24 01:09:10
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| [2017-02-24 02:40:21] |
| User104854 - Posts: 441 |
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Ok. How about a step in the right direction for me then? I see plenty of posts on here where you guys offer some assistance or point people in the right direction. I'm not asking you to develop something for me. If you know where I can look to get started then please share and I'll figure it out from there. Thanks.
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| [2017-02-24 03:58:04] |
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You are going to need to modify the Trade Management by Study to fully accomplish the movement of the stop to your requirements. So you should not rely on the Move Stop to Breakeven Attached Order functionality on the Trade Window and instead implement this within the study as well. Refer to this page: https://www.sierrachart.com/index.php?page=doc/BuildCustomStudiesDLL.html Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2017-02-24 03:59:51
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| [2017-02-24 05:04:07] |
| Sawtooth - Posts: 3996 |
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You could also do what you want using a combination of a Trade Window config, the Spreadsheet System for Trading study, and the Trade Management by Study study. The twconfig sets up the targets and stops, including the MBE stop. The Spreadsheet System for Trading study uses a formula to create the trailing stop prices, but remains at 0 until the first target is reached. The Trade Management by Study references the Formula Column subgraph where the trailing stop prices are calculated. Date Time Of Last Edit: 2017-02-25 02:05:44
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| [2017-02-24 13:06:00] |
| User104854 - Posts: 441 |
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Perfect. Thank you for the responses. That helps a lot.
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