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Trailing stop strategy setup?
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Created: by Total Novice Attachments:0

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Trailing stop strategy setup?

  #1 (permalink)
Elite Member
Savannah, GA
Trading Experience: Beginner
Platform: Still Researching
Favorite Futures: Stocks
Posts: 6 since Oct 2014
Thanks: 15 given, 0 received

Trailing stop strategy setup?

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 05:48 PM.
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  #2 (permalink)
Elite Member
Savannah, GA
Trading Experience: Beginner
Platform: Still Researching
Favorite Futures: Stocks
Posts: 6 since Oct 2014
Thanks: 15 given, 0 received

Nevermind. Isn't fixed.

Last edited by Total Novice; December 2nd, 2014 at 05:48 PM.
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  #3 (permalink)
Elite Member
Savannah, GA
Trading Experience: Beginner
Platform: Still Researching
Favorite Futures: Stocks
Posts: 6 since Oct 2014
Thanks: 15 given, 0 received

Replying to my own thread in case someone with an answer saw me say "fixed it," because I didn't.

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  #4 (permalink)
Trading for Profit
new york
Trading Experience: Intermediate
Platform: X Trader, Sierra Charts, Multicharts
Broker/Data: AMP/TT, Vision/Rithmic, AMP/CQG
Favorite Futures: CL, NG, gold
Posts: 355 since Mar 2012
Thanks: 665 given, 573 received

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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