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modify percent trailing with a fixed value
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modify percent trailing with a fixed value

  #1 (permalink)
Trading Apprentice
Bradenton
 
Futures Experience: None
Platform: MultiCharts
Favorite Futures: FTSE MIB
 
Posts: 29 since May 2016
Thanks: 6 given, 4 received

modify percent trailing with a fixed value

Hi all,

I am using this strategy below:

setstopposition;
setprofittarget(500);
setstoploss(90);
setpercenttrailing(250, 70);

but now I would like to tune a little bit this strategy abandoning the % trailing (70%) to take profit at fixed value (100).
So, if it going toward profittarget(500) it exceeds the threshold 250 a monitoring for any eventual retracement is started for which it can take profit at an amount of 100, otherwise if it proceeds on the good way, it takes profit at the first profittarget 500.

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Thank you.

BR,
auato

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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: 1,465 since Apr 2013
Thanks: 224 given, 835 received


auato,

you will likely only be able to accomplish that with a stop order that you place when your open position profit meets your threshold. You won't be able to adjust the SetProfitTarget reserved word as you are above the value of 100 and would simply exit right away.

Regards,

ABCTG

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