Trailing Profit Target

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  • #185361 Report

    Hello all,

    My name is Michael and I have a question.

    In ProRealTime, after you’re in a position you have the possibility to set a Trailing Stop (fixed or in %). You also have the possibility to set a Profit Target. However, is there a possibility to also have a Trailing Profit Target?

    Thanks for your help in advance!

    #185362 Report

    Hi,

    A little bit more patience, it is coming very soon

    (I move this topic from probuilder forum to proorder forum)

    #185492 Report

    Hi JC_Bywan,

    Thankyou for your quick reply. That’s great to hear, I’m looking forward to it.

    Regards,

    #192609 Report

    Hi JC_Bywan,

    I was curious as to whether there is any more information available when this Trailing Stop Profit Target will be available?

    Thanks!

    #192610 Report

    Hi, here they are in Nicolas’ post from last March, if they don’t get a syntax error when you type them in your proorder/probacktest code editor, then they are deployed with your PRT version: https://www.prorealcode.com/topic/new-trading-instructions-better-management-of-your-orders/

    #192612 Report

    Hi,

    Thank you for your quick reply! Which one should be used for the Trailing Profit Target?

    Michael.

    #192622 Report

    Hi,

    any of these below, with the flexibility of combining them with “if” statements for your trailing rules ending up defining variable X:

    • Set Stop Price X : Allows to set a stop at a price X defined directly by the user and not in relation to the entry price of the position.
    • Set Stop pProfit/%Profit/$Profit/Profit X : Allows to set a stop at X points / % / € / unit above the entry price of the position.

     

    For example, if you want to raise the trailing profit level by 5 points each time your price is 40 points above the trailing profit level :

     

     

    3 users thanked author for this post.
    #192724 Report

    Hi,

    Thankyou for your quick answer and your explanation!

    Regards,

    Michael.

    #193128 Report

    Hi JC Bywan,

    Is there a way to the reduce the initial value on “Set stop ptrailing” step by step? either after a set number of bars or by time?

     

    Regards

    Lars

    #193136 Report

    Hi, there’s no ptrailing in the new instructions? Not sure if it’s a typo and you’re talking about set stop price X, with X used as a custom trailing level variable, or set stop pProfit, or the old set stop trailing instruction (which personnally I don’t use and find less useful than the new ones).

    But yes, with set stop price X for example, you can imagine any condition you’d like within “if” statements to modify X step by step, can be number of bars(horizontal axis), can be progress made (vertical axis), can be time, can be something crossing something else (event)…

    1 user thanked author for this post.
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