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Simple trailing stop strategy
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Created: by jeemba Attachments:0

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Simple trailing stop strategy

  #1 (permalink)
Trading Apprentice
Tampa Florida
 
Futures Experience: Intermediate
Platform: Tradestation
Favorite Futures: GBPUSD
 
Posts: 1 since Jul 2013
Thanks: 0 given, 0 received

Simple trailing stop strategy

I am new to the tradestation platform and learning EasyLanguage.

I am trying to do a simple strategy where on Each day a new high is made, old Sell Stop order is canceled and new Sell stop order with Stop Price at 2% below high is entered.

I do not know why this code does not work.

Inputs: Percentage(2);

//Entry
If Date = 1110316 then
Buy( "Buy" ) next bar at market ;

//Exit
If MarketPosition = 1 then begin
If High[0] > highest(high,BarsSinceEntry) then begin
Setstopposition;
Setpercenttrailing(High - EntryPrice,Percentage(2));
end;
end;


I am using the SPY symbol form 2011-01-01 to 2011-06-30 . My trade is supposed to open on 2011-03-17 and closes on 2011-04-12.

Thanks in advance for any assistance.


Last edited by jeemba; July 14th, 2013 at 01:34 AM.
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  #3 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,407 since Apr 2013
Thanks: 220 given, 799 received
Forum Reputation: Legendary


Hi jeemba,
I am afraid, but the reserved word Setpercenttrailing doesn't work like that. You would need to do something like this:

 
Code
//Exit
If MarketPosition = 1 then begin
If High[0] > highest(high,BarsSinceEntry) then 
 MyStopPrice = High - High * .02;

Sell ("SX") next bar MyStopPrice stop;
end;
You should give MyStopPrice a value when you open the trade, too.

Regards,
ABCTG

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