Stop Loss activated with Profit Floor

April 21st, 2019, 12:59 AM

For some reason I just can't figure out how to code this. I know you can easily have a Breakeven Stop or Trailing Stop with a profit floor, but how can I code a strategy that sets a stop loss a certain fixed amount *above* the entry price once a profit floor is reached? For example, let's say the floor amount is $0.20 and the stop is $0.10 above entry, it goes long at $2.00, once the price reaches $2.20, a stop is automatically placed at $2.10.

Any help is appreciated. Thanks!

ABCTG · April 22nd, 2019, 03:55 AM

meeerkat,

the best way to accomplish this might be to use a regular stop order at a specific price that you only issue within your code and not rely on any of the built-in exits for that. When the profit of your position reaches a specific price/value from the entry, you would issue the stop order.

Regards,

ABCTG

Stop Loss activated with Profit Floor

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Stop Loss activated with Profit Floor