Automatic Break Even | Smart Orders: Move Stop Loss to BE when first TP filled - Trading - Altrady

A

Roo

Status changed to: Live

Roo

Released in V4.1

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B

Bernd

Needed feature in my opinion, adds a lot of value to the app (and to automated trading) Last step to make Altrady a competition to Cornix etc.

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V

vilysrai@yahoo.com

please add this feature , will be great

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B

blackball

Yes Yes Yes. Ideally, if you make it possible to add a trailing stop loss order for a smart position.

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J

jacky

Does the software have Moving Target:

When using this type of trailing stop, if triggered, the bot will move your stop to the price of the previous target. If triggered on the first take-profit target, then the stop will be moved to the breakeven entry price, when the second take-profit target is reached the stop will be moved to the first take-profit target price, and so on. This stop type can only be triggered by choosing a certain target, while the default trigger is the first take-profit target.

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Dominomatic

Is it possible to make the stop los function smarter then it already is, by moving the stoplos top break even when multiple take profits are set and the first take profit is hit? Would be nice if this can be a option with a switch on the smart orders form.

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A

Roo

Merged with: Smartorders: moving stop loss to BE with multiple TP's

B

bos

Yes please, omg this would be such a good feature :o

But you could make it even better. When adding tp steps, with each tp step there should be an input field "move stoploss to" which accepts a percent number.

So if your initial stoploss % is -1%, and if your first take profit is 1%, you could set move sl to -0.5% when first tp is hit, when you hit 2nd tp at 2.5%, you could move sl to 0% etc.

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P

Pikajewtrader

I look forward to this. Since it’s in creation stage, I’d like to request the user selects what target the SL moves at please. Or maybe just a level in general. I sometimes move mine before first target on a longer swing. Thanks!

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H

HefaistoS

yep. I've started using this feature for this reason alone.
More exactly the: Follow Take Profit feature.
it's a great feature. You go for the profit but if the price goes back then you won't lose a cent.
It's a more conservative approach but for those who don't want to take risks (especially in this type of market), it's a must.

Feature Explanation:
When this Stop-Loss option is selected, once your take profit target has been reached and has been completed, the stop loss will be updated to the previous take profit setting, if it was the first take profit, then it is updated to the entry point of the position.

Example:
stop-loss -10%
take profit 1: +10%
take profit 2: +20%
take profit 3: +30%

When the first take profit is completed, the stop loss is moved to the entry price plus 0.3% (allowing room for fees)
When the second take profit is completed, then the stop loss is moved to the first take profit target example: +10%, and so on until the position is closed,
It always updates to the previous take profit value.

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M

MrDizZz

I would argue automated moving of the SL in case a TP gets hit is crucial for automated trading. I've being it on Zignaly and it's great. Here's how they do it: help.zignaly.com/hc/en-us/articles/360015780860-Trading-Terminal-101#h_01F78WM0Y1935Q3HCXNB8ST90D

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Roo

I'd like two (or more) options.
1. trail one order behind, e.g. TP1 reached, move SL to Entry
2. Trail 2 orders behind i.e. TP2 reached, move SL to entry.
The latter is useful with certain types of signals and positions.

The OP suggest using BE instead of Entry... I would prefer using the average entry price.

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H

HefaistoS

yep, really useful feature!!

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R

rainsongs

This is a necessary feature

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I

intrepitrade

Like that idea, upvoting!

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Trading

Voters 19