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Dynamic trailing stop
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Dynamic trailing stop

  #1 (permalink)
Trading for Fun
turin italy
 
Futures Experience: Advanced
Platform: metatrader multichart
Favorite Futures: futures
 
Posts: 96 since May 2013
Thanks: 43 given, 4 received

Dynamic trailing stop

Hello Guys,

anyone know how to build a trailing stop that changes his value in relation to the position p&l ?

For Example:
  • P%L = 50 pips ---> Trailing Stop = -50 pips (be)
  • P%L = 100 pips ---> Trailing Stop = -70 pips
  • P%L = 200 pips ---> Trailing Stop = -90 pips
    ....

I prefere to don't use 1 minute bar and stop/limit orders to manage it, there is another easier way ?

Thank you for any answers

Regards
No Erocla

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  #2 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,533 since Apr 2013
Thanks: 231 given, 855 received
Forum Reputation: Legendary

No Erocla,

as you don't prefer the best way (in my opinion) to do it, you can try a trick and use the reserved word SetStopLoss to do the trick. You can use negative values for the dollar amount to move the stop to lock in profit. However SetStopLoss was not intended to do that and you might use a loop hole that Multicharts closes at some point.

Regards,
ABCTG

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  #3 (permalink)
Trading for Fun
turin italy
 
Futures Experience: Advanced
Platform: metatrader multichart
Favorite Futures: futures
 
Posts: 96 since May 2013
Thanks: 43 given, 4 received


Thank you like alwais abctg, i will use orders so.

Regards
No Erocla

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