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Vancouver
Experience: Beginner
Platform: Ninja Trader 8
Posts: 9 since Oct 2015
Thanks Given: 7
Thanks Received: 1
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Good day,
I am looking for an ATM strategy or an indicator which does this :
I want to plan a trade with a bigger Stop Loss so when i take a position going long, instead of going up, it starts to go down, One thing i could do is to wait till the big stop loss is hit and i take the loss, the other thing i want this ATM strategy or indicator to do is to let the stop loss hit but at one third/one half of the total of the full stop loss. So instead of waiting for the position to go hit the full stop loss, move the stop loss at a set position e.g. at one third or one half. But at the same time have the same original long position placed at the same time. So if and when the position goes back up, the newly placed long position will get activated and hopefully go in the intended direction.
What this will accomplish is that instead of getting the full stop loss hit, one third or one half of the stop loss will get hit. If the position goes back up again after hitting the one third or one half of the full stop loss, at least i can recover my loss and break even with the trade.
Please let me know if there is any thing available like the above mentioned.
Thanks
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