Possible to have multiple stop losses?

• 10/30/2017 at 5:09 PM #50950
  jebus89

  Hi im wondering if i can have 2 different stop loss rules:

  1. The breakeven stop loss: if i have 40 pips or more, it will exit at 5 pips profit if price drops.

  2. The trailing stop loss: This is francesco78 idea (maybe he has gotten it from someone else) where if I have more then 70 pips profit it will start trailing stop loss. For every 20 pips i gain the stop loss will be moved up.

   

  Can i run both of these in an algo and expect both of them to run?

   

  edit: i have both the codes, no need to link or search for them 🙂

  

  jebus89

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  10/30/2017 at 11:16 PM #50994
  Despair

  Yes, you can.

  

  Despair

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  10/31/2017 at 7:52 AM #51013
  jebus89

  Big thanks for your reply Despair!

  I have a follow up question here:

  Regarding the breakeven stop loss: Can i have more “levels” / “steps”?

  For example:

  If i have 50 pips in profit, set stop loss 5 pips

  But if i reach 100 pips in profit, set stop loss 50 pips

  

  jebus89

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  10/31/2017 at 10:28 AM #51038
  Despair

  Sure you can, you simply have to program, that your code adapts the SL all the time. What you describe is nothing else than a trailing SL.

  

  Despair

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  10/31/2017 at 10:46 AM #51039
  jebus89

  Thanks again Despair, i was worried PRT might fuck up if i have many stop loss rules..

   

  Another question, might be a dumb one but im gonna ask it anyways: The PRT stop loss is guaranteed right? So if i exit via a stop thats gonna cost me 1 extra pip (if im not mistaken thats the price for guaranteed stop loss right?)

   

  

  jebus89

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  10/31/2017 at 11:15 AM #51044
  Despair

  This depends on what kind of account you have. For the new limited risk accounts it is this way (iI think). In Sweden we don’t have this (yet). So stops are not guaranteed and therefore cost nothing extra.

  

  Despair

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  10/31/2017 at 2:39 PM #51077
  jebus89

  Oh thats good info, i was under the impression that all IG cfd accounts where the same..

  

  jebus89

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