The Stop at Line 90 won’t be actioned because it is followed by another Stop at Line 93 … this is the way PRT works (weird I know?).

GraHal wrote:

The Stop at Line 90 won’t be actioned because it is followed by another Stop at Line 93 … this is the way PRT works (weird I know?).

90 SET STOP pLOSS max(myATR * 1.5,10)

92 SET TARGET PPROFIT TP

93 SET STOP PTRAILING SLT

Khaled wrote:

My understanding is that Training SL is triggered only when the position moves favorably. What if the position never goes into green? I need a stop loss as a security

It is not about when it is triggered etc. The PRT interpreting system overrules a previous line in the code with similar action (STOP)  with a next it runs into. So line 90 will be overruled with line 93.
What people additionally tell you is that line 93 in Live won’t work (I never tried it but believe them). It works in Backtest though (and even Live-Demo ?), so it is to be avoided (!).
Net, both your Stop lines don’t work out.

Hi Khaled,

I am not experienced with any of the trailing stop codes which is the result of just never “following” them. However, I think that @robertogozzi will be able to point out the currently best or most extensive one. They are mostly relatively simple to integrate in your own code. Notice though that you should always carefully test them with Graph(OnPrice) commands so that you will know in advance their real effectiveness. Without such debugging you will be in the blind up to stops never occurring. Trailing stuff is sensitive and say that you can win half of the money with it (or not lose half of the money in this case).

Regards,
Peter

PS: I actually wonder whether so many Trailing Stop codes pass the revue in PRC. Trailing Target, yes (much more easy).

I think it is quite easy to have a misunderstanding between a Trailing Target and a Trailing Stop(Losssss).
Of course we can use the Trailing Stop to lock in our profit (used as a Trailing Target), but I wonder whether Khaled meant that.

Khaled wrote:

My understanding is that Training SL is triggered only when the position moves favorably. What if the position never goes into green? I need a stop loss as a security

But I must admit – I am not sure.
So maybe for my fun only :

PeterSt wrote:

PS: I actually wonder whether so many Trailing Stop codes pass the revue in PRC. Trailing Target, yes (much more easy).

PeterSt wrote:

What people additionally tell you is that line 93 in Live won’t work (I never tried it but believe them). It works in Backtest though (and even Live-Demo ?), so it is to be avoided (!). Net, both your Stop lines don’t work out.

This is not even correct as I use it all the time myself (crossed some wires once again). The one not working in Live (but works in BackTest and maybe only in PRT-IB) would be Set Stop Loss x Trailing y.

Now hopefully doing it right :

Khaled wrote:

My understanding is that Training SL is triggered only when the position moves favorably. What if the position never goes into green? I need a stop loss as a security

The Set Stop pTrailing SLT perfectly works, also when you’re in a losing state. It trails under the price, which is possibly what you want after all, Khaled. Maybe off topic :

Trailing above the price is something else and what I personally would call “Trailing Loss”. It can be used when you’re in a profit state just the same. Normally it would be used to take position but this is not necessary at all. Careful again : this is what is possible manually in PRT-IB. I use that all the time too. In my opinion this is lacking in AutoTrading, or I just don’t know how to do it**. Thus example : trail above the price for a Long position and the trailing goes downwards. When you already have a position this works just the same as well. And now you can use it to invert …
This has its application when in a losing state as well, but the situation would be harder to grasp. It can lock in least-loss once you are sure to be losing, but wait for a retrace to make the best of it (and then invert on top of it).
**): Technically the command involved can be applied, but because it is at the wrong side of the price, it is accepted as a Market order and nothing trails. Not so with Manual trading (IB).

PS: What you, GraHal, linked to, is what I would call trailing (a) target. That this works with a Set Stop Trailing command is something else and confusing. In my personal view, @JC_Bywan has it right in this topic : Trailing Profit Target