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Hi,
I posted this on the TradeStation Forums ... but they were less then helpful So I thought I would try you all ... and see if I couldnt get some help. Basically I'm looking for either how to do this order, or if you do something similar if I could use your order as a template that would be great as well. Below, I will copy/paste the original Post ...
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I am new to TradeStation and was wondering if the platform was capable of handling this order ...
I scalp the YM and would like for my protective stop to move with profit.
What I was thinking is something along the lines of ...
Enter at Market
Once I have 5 points profit in the trade I would like to move my stop to break even.
Once I have 8 Points, then move the stop to 5 points profit.
Once I have 10 Points, then move the stop to 8 Points Profit.
Once I have 15 Points, then either trail the stop by 3 points (or if its easier ... put my stop to 10 points with a final target of 20 points)
This way, the trade doesnt end until I am stopped out.
Is this possible?
Thanks
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Any insights into how I might accomplish something like this would be greatly appreciated.
Travis |
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Travis,
AT has a trailing stop function.
For example:
You can originally enter the market with a 10 tick stop loss.
Once market moves 8 ticks in your favor stop will move to 3 tics below the market and trail the market tick for tick.
AT has a stop loss to break even function
For example:
You can originally enter the market with a 10 tick stop loss.
Once market moves 8 ticks in your favor stop can move to break even plus 1 tick which should ensure you at least break even and cover costs.
AT has a multiple bracket & trailing stop function
For example:
You can set the original stop loss to 10 ticks
Profit objective of 5,10,15 ticks.
Trailing stop can trail market by 5 ticks,once market moves 11 tics in your favor.
In this scenario stop is entered normally with 10 tick stop loss.
market moves in favor of trader 11 tics - meaning first two profit objectives filled.
Last profit objective can be left were it is or it can be manually canceled leaving unlimited upside profit potential with trailing stop automatically moving 5 ticks below market all the way up.
Hope this helps.
Best regards,
Tom