This is frustrating. And of course I didn't find the issue until I bought the lifetime license.
Anyway, here's the deal. I'd like to trade on the chart while I'm learning, and I'd like every new trade to have a stop/loss and a trailing stop automagically added. I can make this work, if I choose to do something like "trigger the trailing stop at 10 ticks, and have the stop/loss trail by 10 ticks."
Works great, works as part of an integrated master strategy, and it works as expected -- if I set levels ~= to the average true range, then I get stopped out on big moves.
So here's what I can't figure out: the trialing stop strategy supports percentages instead. I'd like to:
Initiate the trailing stop trigger somewhere reasonable, like 1 ATR up.
Loosen the stop over time. Ideally I'll be able to tell MC to trigger at 20 ticks (say), and move the stop so that it captures 50% of a move. The longer the move, the more breathing room for retracements.
But I can't make it work.
Can someone help me?
Last edited by Total Novice; December 2nd, 2014 at 04:48 PM.
I think you should test the percent trailing signal.
If you set floor amount to $400
and the percent to 30 %
then once it reaches $400 , it can retreat up to 30% ($120) and keep moving.
If it reaches $800, then the 30% pullback would be $240.
At $1200, the trail would be $360 .
You can add multiples of these signals if you wanted to tighten the stop percentage as you go.
e.g. you could add a signal with $800 floor amount with a 10 % trail.
with these signals, you would have a 30% trail from $400 to $800. At $800 dollars and up, the second signal would fire on a 10 % pullback . So at $800 , if it pulled back $80 , the trail would close the position at $720.
Do you see how you can use the percent trailing signal to achieve your goals ?
Try optimizing the signals to get some ideas on what settings to use.
I hope this can help you.
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