Stopping SetStopLoss

July 9th, 2012, 09:30 PM

Here is my dilemma: On principle and out of fear that my pc will explode seconds after placing a trade, I always write setstoploss into my strategies. But, when a sliding stop (like a parabolic) enters into the strategy after bar 1, I now have 2 stops in place at once. Not so much of problem, except that OEC adds to my margin requirement as I understand it when I have multiple stops.

So, my goal is to enter a setstoploss with the entry of the trade and then turn it off once a new strategy protective stop is placed.

I have tried a simple code:

if barssinceentry = 0 then begin
SetStopLoss( Amount ) ;
end;

hoping that the setstoploss wouldn't reenter after the opening bar. Seems it holds even to bar 2.

Any elegant solution I have overlooked?

July 10th, 2012, 04:54 AM

Have you looked at the NWT exit suite. It uses one stop order that moves from being a stoploss to a trailing stop etc. It also changes the name of the order on the way through .

Regards,
Neil.

Stopping SetStopLoss

Discussion in MultiCharts

Stopping SetStopLoss