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Initial stop loss and trailing stop loss in one strategy


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Initial stop loss and trailing stop loss in one strategy

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  #1 (permalink)
Mario22
Cork Ireland
 
 
Posts: 3 since Oct 2022
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Hi guys. My goal is to have automated exit strategy using initial stop loss and trailing stop loss. Trailing stop loss would kick in when it's higher than initial stop loss. Then initial stop loss would be invalid until next trade.
I would really appreciate if someone could help? I'm not necessarily asking for a code but maybe could be pointed to to right direction? I am new to easy language and struggling with the above.

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 Tarmmyy 
London, UK
 
Experience: Advanced
Platform: NT8
Broker: AMP
Trading: E-Mini S&P, NQ,RTY YM
 
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Posts: 10 since Aug 2018
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There are a few platforms that can help you to make your strategy into an algo and you can fully or partially automate your trading for market analyzing, signals, entries, and exit. This has helped my trading. It also allows you to backtest your strategy more easily.


Mario22 View Post
Hi guys. My goal is to have automated exit strategy using initial stop loss and trailing stop loss. Trailing stop loss would kick in when it's higher than initial stop loss. Then initial stop loss would be invalid until next trade.
I would really appreciate if someone could help? I'm not necessarily asking for a code but maybe could be pointed to to right direction? I am new to easy language and struggling with the above.


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  #3 (permalink)
Mario22
Cork Ireland
 
 
Posts: 3 since Oct 2022
Thanks: 0 given, 0 received



Tarmmyy View Post
There are a few platforms that can help you to make your strategy into an algo and you can fully or partially automate your trading for market analyzing, signals, entries, and exit. This has helped my trading. It also allows you to backtest your strategy more easily.

Thanks for the above. Which platform you would suggest personally?
Do you have any experience with easylanguage?

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  #4 (permalink)
 Tarmmyy 
London, UK
 
Experience: Advanced
Platform: NT8
Broker: AMP
Trading: E-Mini S&P, NQ,RTY YM
 
Tarmmyy's Avatar
 
Posts: 10 since Aug 2018
Thanks: 4 given, 6 received

Hi

I use BloodHound by SharkIndicators (and it meets my needs)
I am not affiliated with them, I am just a user. I came across them on this platform. It's been a year since I started using it. It has definitely helped with the issue of FOMO and associated emotions.
It's only designed for NinjaTrader (it's easy to use)

I am not familiar with easylanguage.

I see some people encouraging unprofitable traders to learn coding skills. For me, it's a bit like, if you want to get on a plane, become a pilot. Why not just concentrate on what you do best which is trading, and let the coders do their own thing?


Mario22 View Post
Thanks for the above. Which platform you would suggest personally?
Do you have any experience with easylanguage?


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Mario22
Cork Ireland
 
 
Posts: 3 since Oct 2022
Thanks: 0 given, 0 received


Tarmmyy View Post
Hi

I use BloodHound by SharkIndicators (and it meets my needs)
I am not affiliated with them, I am just a user. I came across them on this platform. It's been a year since I started using it. It has definitely helped with the issue of FOMO and associated emotions.
It's only designed for NinjaTrader (it's easy to use)

I am not familiar with easylanguage.

I see some people encouraging unprofitable traders to learn coding skills. For me, it's a bit like, if you want to get on a plane, become a pilot. Why not just concentrate on what you do best which is trading, and let the coders do their own thing?

Thanks for the above, I might give it a try at some point.
I partially agree what you are saying but I think in retail there's lack of backtesting or too much discretion, style drift, a lot of problems. So people should backtest and make sure there strategy is profitable before risking money. Even then there is no guarantee but at least you have a better chance in my opinion.
See for me I just need to backtest some ideas and automation part is to prevent human error as there's lots of trades and things can get tedious, take a lot of time. I could hire coder but for simple strategy I don't think I should need to or anyone would be interested, because it might take them 5 min to write a code for my question above. I probably going to figure it out myself, just thought might save some time because I am not really familiar with easylanguage.

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  #6 (permalink)
 Tarmmyy 
London, UK
 
Experience: Advanced
Platform: NT8
Broker: AMP
Trading: E-Mini S&P, NQ,RTY YM
 
Tarmmyy's Avatar
 
Posts: 10 since Aug 2018
Thanks: 4 given, 6 received

My sentiments exactly. You sound like me a year ago. Now I can backtest on the fly. I think for an algo beginner, it's ok. It allows me to tweak my strategies a million times and backtest as many times.
Check out their Youtube channel. if you do not have NT8 I think you can use it with live data on trial and the same with the Sharkindicator platform. So you have nothing to lose


Mario22 View Post
Thanks for the above, I might give it a try at some point.
I partially agree what you are saying but I think in retail there's lack of backtesting or too much discretion, style drift, a lot of problems. So people should backtest and make sure there strategy is profitable before risking money. Even then there is no guarantee but at least you have a better chance in my opinion.
See for me I just need to backtest some ideas and automation part is to prevent human error as there's lots of trades and things can get tedious, take a lot of time. I could hire coder but for simple strategy I don't think I should need to or anyone would be interested, because it might take them 5 min to write a code for my question above. I probably going to figure it out myself, just thought might save some time because I am not really familiar with easylanguage.


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