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Stopping SetStopLoss
Started:July 9th, 2012 (09:30 PM) by fineyfam Views / Replies:961 / 1
Last Reply:July 10th, 2012 (04:54 AM) Attachments:0

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Stopping SetStopLoss

Old July 9th, 2012, 09:30 PM   #1 (permalink)
Elite Member
Hartford Connecticut
Futures Experience: Intermediate
Platform: Multicharts
Favorite Futures: Currency Futures
Posts: 2 since Jun 2012
Thanks: 3 given, 0 received

Stopping SetStopLoss

Here is my dilemma: On principle and out of fear that my pc will explode seconds after placing a trade, I always write setstoploss into my strategies. But, when a sliding stop (like a parabolic) enters into the strategy after bar 1, I now have 2 stops in place at once. Not so much of problem, except that OEC adds to my margin requirement as I understand it when I have multiple stops.

So, my goal is to enter a setstoploss with the entry of the trade and then turn it off once a new strategy protective stop is placed.

I have tried a simple code:

if barssinceentry = 0 then begin
SetStopLoss( Amount ) ;

hoping that the setstoploss wouldn't reenter after the opening bar. Seems it holds even to bar 2.

Any elegant solution I have overlooked?

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Old July 10th, 2012, 04:54 AM   #2 (permalink)
Elite Member
Newcastle, Australia
Futures Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker/Data: IB
Favorite Futures: SPI,FTSE100, 6E, 6A
Posts: 285 since Oct 2010
Thanks: 108 given, 176 received

Have you looked at the NWT exit suite. It uses one stop order that moves from being a stoploss to a trailing stop etc. It also changes the name of the order on the way through .


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