Wrong Trailing Stop gain amount shown ?
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From the chronicles of a PRT trader. Well, one who tries to be one.
I must put my bugs somewhere, and while PRT technical support seems to be overloaded (they must still be working on my first ever handed bug), here is for a change one I never saw before but should have :
I put a trailing stop. I also put 1 piece of additional Short-Limit. Next I start to wonder why the profit seems so low regarding the distance, would the stop be hit (I did not show the order label, but you will trust me).
Then (or better : because of that) I got scared and ditched the additional 1 piece Short-limit; if that would be filled with the price already so close *and* losing so much right away, it wouldn’t be a good thing to do. And the second screenshot is the result ??But the losing-so-much appears to incorporate the position I don’t have yet (unless I am too dizzy now to comprehend). This also relates to the 3 pieces I already have and the 4th which is not incorporated in the trailing stop quantity (which is 3). Thus my gut feeling tells me that this double-backfires on me.
Of course the PRT software is more intelligent here than I am, because it would be true that if the trailing stop would be hit now the price is going up, it would first and indeed grab that additional Short-piece and *then* the data would be correct. But hey …
I am not counting this as a bug because I am not sure whether this could be seen as correct after all. But it sure sets one (me) on the wrong foot ?
I repeated the procedure to check whether it indeed goes as I just told, or else I could not have make the screenshots (from before and after the deed). The two screenshots were made 5-10 seconds after each other.A new round of chances today. But today we’re Long.
1st : I have a Trailing Stop on this Long position. Would it go right now (price drops all the way), it will bring $890
2nd : Between that Trailing Stop and the price, I put a Limit Buy. Mind you, this is just normal (daily) practice; it is only that the quantities will look impractical to you, but never mind. I am about to hand this order to the broker.
3rd : Which is wat happened here. And as soon as I do that. the Trailing Stop would bring $516 only, instead of the $890.
I think this is wrong, although practice will depict that the Buy Limit would always be filled first before the Trailing Stop can be reached. I did not do the math, but I guess that in practice this would be correct, *if* the sequence would happen like that, meaning : the price drops NOW.
But what if the price rises first and the Trailing Stop level becomes higher than the But Limit ? Will it automatically adjust ? maybe. Anyway meanwhile I don’t understand where my 890 set profit went because I don’t necessarily see this happening (I have done this a 100+ times and never saw it, until last Friday).So do people think this is justified ?
Here’s a new set; I’m afraid that PRT approaches this more intelligently than I imagined.
1st : Trailing Stop applied on the Long position.
2nd : Buy Limit injected between Trailing Stop and Price.
3rd : Trailing Stop level approaches the Buy Limit.
4th : Et voilá. As soon as the Trailing Stop crosses the level (price) of the Buy Limit, the current due-gain for the Trailing Stop is back to what I expect of it.
Nicely made. But I still would not want it. Can be personal.
Is the TS linked to a trade? Normally link lines are shown with a yellow dot linking to the open trade price entry level.
Thanks.
No, not in this case. This is PRT-IB and there you can make the orders individually. They will still be linked (kill the position and all disappears).
What you say can be done too. See below. Not sure whether this gives the exact same options as with PRT-IG. Anyway, the manual option as I use(d) here, can not be done with PRT-IG (ever back it could, but not the last time I checked).
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3 years, 8 months ago.
Topic Details
| Forum: | Platform Support: Charts, Data & Broker Setup |
| Language: | English |
| Started: | 06/03/2022 |
| Status: | Active |
| Attachments: | 9 files |
