Login Page - Create Account

Support Board


Date/Time: Wed, 29 Jun 2022 15:19:46 +0000



Triggerred Stop Order

View Count: 352

[2022-05-10 19:18:36]
DCSaba - Posts: 42
Dear Sierra,

I have been actively looking for this option and was very impressed to find it, but I think it doesn't do what you meant it to do:

Order Types: Triggered Stop

I thought the idea was to keep the Stop order form releasing until the First Target is reached.
But I have found thru many attempts that the Stop is already active, the moment I enter the Trade (like a normal OCO).

I understand of course your warning of the danger of letting Sierra hot my Stop (at least temporarily) locally, but there is just no good way in today's market this is one option.

Currently my solution was to Set a Stop (preliminarily) to be many points away and indeed that Stop will immediately jump to the Offset Position, once the first Target was reached, but I think you wanted to do this differently (ie withholding the Stop release to the Exchange until the condition is met).

I have tested it multtiple times in multiple scenarios, but the result was always that if PRice moved against me before reaching the Trigger, I got anyway stopped out immediately.

Please see attached the corresponding Setting.


THank you for your consideration.
imageTriggeredStop.png / V - Attached On 2022-05-10 19:17:01 UTC - Size: 14.19 KB - 36 views
[2022-05-14 13:37:12]
DCSaba - Posts: 42
So, do I understand that you indeed intended this "Triggered Stop" functionality to work like this? I.e. to hold back on releasing s BRacket order's Stop until the Condition is met (Tick Offset)?
[2022-05-16 20:49:45]
Sierra_Chart Engineering - Posts: 2706
We have done some documentation updates for this Order Type:
Order Types: Triggered Stop

This is one of the main things that was added:
A Buy Stop order price must be above the trigger price. A Sell Stop order price must be below the trigger price.

If the order type does not do what you require, then do not use it. It may not be useful as an Attached Order.
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, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2022-05-17 18:49:47]
DCSaba - Posts: 42
This is my point here.

You clearly state now that "The Stop order, is in a Held state until this condition has been met."
And this is exactly what I was looking for, too.

But this is not the case, ie The Stop order, is NOT in a Held state until this condition has been met and is indeed already active before and can be triggered by price moving beyond it.
[2022-05-20 16:28:18]
DCSaba - Posts: 42
Did you have a chance to confirm what I'm describing?
Did you see it for yourself?
[2022-05-22 22:08:44]
Sierra Chart Engineering - Posts: 103516
It is not technically possible for what you are describing to be true. If this Triggered Stop order is not in a Held state this means the Trigger has already occurred.

Do not use this order type please. It may not even be useful. We probably should just remove it. Just simply do not use it because you are misunderstanding it. It does not malfunction, it works correctly as designed but it may not be useful at all.
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
[2022-05-22 22:26:46]
tomgilb - Posts: 3327
The Triggered Stop only triggers when price moves against you; it is not capable to trigger when price moves in your favor.

A workaround would be to use the Trade Management by Study study, where it would reference a price from a formula in the Spreadsheet Formula study, or the Spreadsheet System for Trading study.
The TMS study would move an existing distant stop to one closer when triggered by a target price.
If using the former, you need to add the Trading: Position Average Price study for the formula to use as a starting point.
If using the latter, the Position Average Price is in a spreadsheet cell.

The formula could also return a stoploss price, and the TMS study would move the distant stop closer when triggered by price moving against you.
Date Time Of Last Edit: 2022-05-23 12:25:37
[2022-05-23 14:49:04]
DCSaba - Posts: 42
Oh no! Please reconsider!
I think you may have already forgotten why you created this Trade Setup, but I assure you it was a brilliant idea!
I do not see why the scenario you describe would be useful (other than MAYBE to guard against Stop-searching Algos), and indeed believe that you have created this Setup for another purpose.

I have arranged 2 very good videos to demonstrate this.

I have recorded for your consideration what actually happens.
In the 1st video you see 3 Trades with a Trigger of 6 Ticks and a Stop of 9.
Scenarios:
1. a Long where price never reaches the set Trigger, but is still stopped out as price goes against the trade by 10 Ticks.
2. a Short with the same outcome just turned around.
3. another Long, where it works as it should: The Trigger is reached (the First Target doesn't get a fill a thou) and then the Trade gets stopped out as price goes against it.

I have also made a much more visible scenario with the "akin" Trade Setup called "Triggered Step Trailing Stop".
In this 2nd video you see 3 Trades with a Trigger of 6 Ticks and a Stop of 10, plus Trailing of 8.
Scenarios:
1. a Short where price never reaches the set Trigger, but is still stopped out as price goes against the trade by 10 Ticks.
2. a Long with the same outcome just turned around.
3. another Long where it works EXACTLY AS IT SHOULD: once the Trigger is reached you can see that the Stop actually is trailing.

This last one is I believe what this Trade Setup was INVENTED FOR BY SIERRA and it is brilliant. The way I can use it so far is to set a much larger Stop, that will NOT get triggered soon, which Stop then jumps to trail the Price after the Trigger has been reached.

Of course this is just MY SIMPLIFIED SOLUTION to deal with the issue and it would be much better if I did not have to worry about Stop being active too early, before the Trigger is hit (that I have set to a level from which price no longer should return from, to my Stop).

So, the Trade Setup of Triggered Stops is BRILLIANT! But it somehow activates the Stop too early (ie. right at entry).
This was the purpose I think you created this for and I think it does it marvelously (as you can see with the trailing mechanism kicking in).


Thank you for your consideration.
Date Time Of Last Edit: 2022-05-23 15:01:18
attachmentTrigerredStop.mp4 - Attached On 2022-05-23 14:45:55 UTC - Size: 20.31 MB - 19 views
attachmentTrigerredTrailingStop.mp4 - Attached On 2022-05-23 14:47:51 UTC - Size: 10.4 MB - 18 views
[2022-05-26 12:28:44]
DCSaba - Posts: 42
Dear Sierra,

Have yo had a chance to check out the Demonstration Videos I organized for you?
[2022-05-29 11:32:44]
DCSaba - Posts: 42
?

To post a message in this thread, you need to log in with your Sierra Chart account:

Login

Login Page - Create Account