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my senario
If I have a runner on with attached orders for Stop Loss and Target
I may like to enter another order with Attached Orders also
HOW DO I add another order at the current price with attached orders for Stop Loss and Target
Example I would like to keep a runner with very large Stop Loss and Target
and at the same time enter scalping orders with small Stop Loss and small Target
If I just enter another order - there is no link between original order with Stop Loss and Target and
the new order with Stop Loss and Target. If both orders are active, as soon as price hits ANY stop loss or target it will be triggered. I end up just flattening everything to clear up the mess.
Sierra Support just points me to the documentation for Scaling in, but I need to know what the attached order for Scaling in would look like.
At the moment my attached orders are for Stop Loss and Targets, If I use the Scaling in Feature - it just submits more Stop Loss and Target orders BUT I do not know how to set up the attached orders to add another trade and associated Stop Loss and Target
I scale in all the time with Sierra. I just use the exact same method for the adds as I did for the original position.
I don't know what you mean by "as soon as price hits ANY stop loss or target it will be triggered". When you put on a new position there are three things at play: a) the entry price, b) the target, and c) the stop loss oco. (b and c are oco's). So if price hits b or c, then it is normal to be triggered.
The only issue I've ever had with Sierra in this regard is just holding positions overnight with TT, because it reports the wrong price which is quite "not cool". But other than that, I can't think of any gotchas.
SC offers both options - you can scale in with a new order (new price). SC keeps the original stop loss and target offset.
You can also have an original order with larger stop loss and target and execute a new order (new price) with tighter stop loss and target).
In your scenario, where the new order is to have different stop loss and target, you just have to switch off the "scale in" option in SC.
Or have you considered starting big then scaling DOWN your trades as time goes on? This may sound crazy, but I've been testing it out in my trades are liking the initial results.
