follow trailing stop level

ausrod · 2021-07-01T13:07:16+00:00

When trading on charts with IG – there is a limit to how close the stop can be dragged to the current price. Is there a way of following that with programming. It would be like a trailing stop but protect profit as it goes. Even better would be to do so in a lower time frame. I can see how to set a trailing stop but what i dont know is how close i can drag it – it is shown on the charts if you trade on the charts bur can i get it in prorealtime?

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07/01/2021 at 2:07 PM #172884 quote

ausrod
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When trading on charts with IG – there is a limit to how close the stop can be dragged to the current price. Is there a way of following that with programming. It would be like a trailing stop but protect profit as it goes. Even better would be to do so in a lower time frame. I can see how to set a trailing stop but what i dont know is how close i can drag it – it is shown on the charts if you trade on the charts bur can i get it in prorealtime?

07/01/2021 at 2:18 PM #172885 quote

robertogozzi
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Automatic trading cannot be combined with manual trading.

07/01/2021 at 2:49 PM #172888 quote

ausrod
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Oh yes im fully aware. -but i would like to have a similar strategy where i can follow up (or down) with the tightest allowable (guaranteed) stop – i am wondering can i code that? is the allowable difference available somewhere per market? I get the impression it could change dynamically

07/01/2021 at 2:54 PM #172889 quote

robertogozzi
Moderator

Legend

There’s no way to know what that limit is.

It’s just a matter of asking IG what’s the most common distance, then give it a try until you reach (or get as close as possible to) that limit.

On DAX (Germany 30) it’s usually 6-7 pips, buy may change during the day.

07/01/2021 at 2:56 PM #172890 quote

ausrod
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Thanks for that – i guess a different way of looking at it – if i try to set it too close what will happen? Will the system fail? As you indicate it does change. Would tehre be a way of ‘chasing’ it somehow?

It is possible to see it in manual trading – Im suprised there is no way of returning that variable.

07/01/2021 at 3:02 PM #172891 quote

robertogozzi
Moderator

Legend

No there’e know way to know it.

If the distance is too close your strategy is stopped.
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