trailing order downward

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  • 12/10/2020 at 12:55 AM #153148 quote
    KyleReed
    Participant
    Junior

    HI all,

     

    I’m wondering if something has already been written whereby one can initiate an order above a price and will trace it down to the lowest point-ish – say for overnight trading where if the price drops more than X percent drop then place an order, and if the price keep dropping, cancel and place a new order at a lower position 😉

    The issue with traditional orders is that if the order is placed at say 3250 but the price dropped to 2810, either the stoploss is hit or the position is in negative territory when back at the desk.

    12/10/2020 at 2:41 PM #153227 quote
    GraHal
    Participant
    Master

    If I understand correctly  … you’d need a very tight stop loss (near to tradeprice) to exit and place a new order at a lower level?

    02/03/2021 at 6:35 PM #160280 quote
    KyleReed
    Participant
    Junior

    Hi, thanks for the reply and apologies for the delay’d response:

     

    I’m referring to placing one order(not executed trade) for the day and let that order track the price as it drops..  and when the price action turns up, the order remains at last position and then open the trade

     

    or place an order at a position and as the price drops, close the order and open a new oder at a lower position – simulating a trailing order

    02/03/2021 at 7:29 PM #160286 quote
    robertogozzi
    Moderator
    Master

    There’s no automatic tracking.

    Since pending orders only last one bar and must be placed again and again if needed, you can easily track them yourself candle after candle.

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trailing order downward


ProOrder: Automated Strategies & Backtesting

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KyleReed @kylereed Participant
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This topic contains 3 replies,
has 3 voices, and was last updated by robertogozzi
5 years ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 12/10/2020
Status: Active
Attachments: No files
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