SET STOP LOSS AT A PRICE

Alberto Lucchese · 2018-03-29T06:13:39+00:00

Hi, Is there a way to set the stop loss at an specific price? as far as i understand the only options are relative to the price (in points or units) or at a $ loss or at a % loss. For example i want to set the stop loss below the previous low, do it need to calculate the points/units fromt he entry to the low to set it?

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03/29/2018 at 7:13 AM #66648 quote

Alberto Lucchese
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Hi,

Is there a way to set the stop loss at an specific price? as far as i understand the only options are relative to the price (in points or units) or at a $ loss or at a % loss.

For example i want to set the stop loss below the previous low, do it need to calculate the points/units fromt he entry to the low to set it?

03/29/2018 at 7:21 AM #66649 quote
Nicolas
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Alberto Lucchese wrote:

For example i want to set the stop loss below the previous low, do it need to calculate the points/units fromt he entry to the low to set it?

Yes, with
```
if buycondition then 
 buy at market 
 set stop loss close-low[1]
endif
```
or use a pending order to sell a buy a condition, for instance:
```
if buycondition then 
 buy at market 
 selllevel = low[1]
endif

if longonmarket then 
 sell at selllevel stop 
endif
```
Alberto Lucchese, Sébi and Nicolas56 thanked this post
03/29/2018 at 8:17 AM #66656 quote

Alberto Lucchese
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Average

Thank you!

08/31/2018 at 4:35 PM #79479 quote

joobeng
Participant

New

Hi Nicolas,

Say we have an existing BUY open position which we entered into manually, then we manage the trade using SuperTrend indicator or some methods.

Can we apply the Strategies on the chart with an existing BUY open position, to manage or trail it ?

selllevel = Supertrend[3,10]

if longonmarket then

sell at selllevel stop

endif

Will the above work ?

Thanks
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