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Utilizing Multiple Stops - EasyLanguage Setstoploss Setpercenttrailing
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Utilizing Multiple Stops - EasyLanguage Setstoploss Setpercenttrailing

  #1 (permalink)
Trading Apprentice
Cleveland Ohio
 
Futures Experience: Intermediate
Platform: Tradestation
Favorite Futures: Stocks
 
Posts: 1 since Mar 2015
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Utilizing Multiple Stops - EasyLanguage Setstoploss Setpercenttrailing

I am new to tradestation and to easy language and I am trying to set up some stops in my strategy. What I would like to have happen is for a stop to be set when I enter a trade as a stop loss then if a trade begins to show a profit I want to change this to a percent trailing stop that tightens as the profit increases. I am sure it has something to do with the way the language executes the code but I can't figure it out how to do it. Do I need some sort of If statement?

When I do this the only thing that seems to happen is the stop loss: I was expecting that the stops would override the previous ones as they became valid but that is not the case when I backtest it. I truly appreciate any help anyone can provide as I'm sure I'm probably going about this the wrong way.

SetStopPosition;
SetStopLoss(1000);
SetPercentTrailing((tradecost*.03),15);
SetPercentTrailing((tradecost*.06),10);
SetPercentTrailing((tradecost*.09),5);

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  #3 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
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bfiselin,

I don't think more than one SetPercentTrailing reserved word can actually be active in the code. What might work is changing the amounts or percentages when certain conditions trigger.

Regards,
ABCTG

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