Jim Dean Sage   Posts: 3022 Joined: 9/21/2006 Location: L'ville, GA  User Profile | Keep in mind that for more complex multi step TP’s: 1. “Prior” refers to the FILL PRICE of the PRIOR STEP. For a two step TP, “prior” in the second step means the entry price of the first step. For longer TP’s (scaling in &/or scaling out), “prior” means the fill price of the order that was executed by the last step in the TP that ran. 2. Another thing that surprised me a bit is that the user has no control over how many Steps possibly might execute on a single bar. The need for >1 steps per bar is obvious since traders want to activate a protective stop immediately after an entry (ie on the same bar). However, for various types of scaling in/out logic, the inability for the user to designate an option to require that Step N+1 *must wait* for a new bar after Step N has fired an order, is a severe limitation. Imho, scaling in (adding on to the initial entry after the move has been verified by subsequent bars) and scaling out (partial exits due to minor adverse price action, or a moderate profit spike) are valuable tools for the trader. I’m trying to develop reliable workarounds for this using SDK custom stops. But it would be better if N built it in to the TP mechanism. | |
