OmniTrader Professional Forum
Trade Plans In Strategies
Layered TRailing Stop PLan
11 replies, 3889 viewings
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OmniTrader Professional Forum
Trade Plans In Strategies
Layered TRailing Stop PLan
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Last Activity 1/17/2022 3:59 AM 11 replies, 3889 viewings |
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Duxx Elite    Posts: 881 Joined: 2/18/2009  User Profile |
Trying to develop a trade plan with multiple layers. The issue is that if the layer does not trigger the next step - there is no stop. I would like to keep the stop from previous step in case the stop is not triggered once it goes to the next step. Hope the above makes sense - thanks Attached the STop plan [Edited by Duxx on 12/29/2021 3:46 PM]  Attached file : Stp Testing.ott (96KB - 281 downloads) Attached file : Capture.PNG (34KB - 338 downloads) | ||
| Barry Cohen Idol  Posts: 2305 Joined: 1/1/1900 User Profile |
A trade plan can only have one step active at a time though, & once it moves to another step, then all the stops in the prior step are no longer active. Attached file : StpTesting.jpg (121KB - 831 downloads) | ||
| Duxx Elite Posts: 881 Joined: 2/18/2009 User Profile |
Ok that is strange - attached is what I see... Im reposting and hopefully this time goes right Let me know if with the correct trade plan, this the question makes more sense thanks [Edited by Duxx on 1/6/2022 11:42 AM] Attached file : StpOGTest.ott (96KB - 271 downloads) Attached file : Capture.JPG (62KB - 286 downloads) | ||
| Barry Cohen Idol Posts: 2305 Joined: 1/1/1900 User Profile |
A trade plan can only have one step active at a time though, & once it moves to another step, then all the stops in the prior step are no longer active. In this example, if Step 2's Fixed Profit is triggered, it cancels the other stops in Step 2, then moves to Step 3 & activates Step 3's stops. Attached file : StpTesting2.jpg (186KB - 730 downloads) | ||
| Duxx Elite Posts: 881 Joined: 2/18/2009 User Profile |
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| Jim Dean Sage  Posts: 3433 Joined: 3/13/2006 Location: L'ville, GA User Profile |
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| Frank Birch Veteran Posts: 171 Joined: 3/25/2006 Location: UK User Profile |
Try this I think I have a grip on what you want to achieve. Regards Frank Birch Attached file : FBJSFOREXCPS3Ver2.ott (112KB - 289 downloads) Attached file : FBJSFOREXCPS3.ott (112KB - 298 downloads) | ||
| Frank Birch Veteran Posts: 171 Joined: 3/25/2006 Location: UK User Profile |
Exits are the most important part of trading, the entry is easy. Duxx layered trade plans are very clever in there own right. But thinking outside of the box here? the MAX you can go is 10 layers which equals to 10% per layer? if this is how far you want to go then the trailing stop provided needs to be tighter per payer may be? The stop I provided has 4 layers which equals 25% per layer my thoughts anything past this then a may be. Chop and change the exits inside the trade plan. Regards Frank Birch | ||
| Duxx Elite Posts: 881 Joined: 2/18/2009 User Profile |
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| Frank Birch Veteran Posts: 171 Joined: 3/25/2006 Location: UK User Profile |
Great news show us your outcome on a chart would be cool if you don't mind of course. Regards Frank | ||
| Duxx Elite Posts: 881 Joined: 2/18/2009 User Profile |
One interesting thing is that profit target is drawn not correctly in the chart. Attached file : Capture1.JPG (164KB - 335 downloads) Attached file : Capture.JPG (51KB - 339 downloads) | ||
| Frank Birch Veteran Posts: 171 Joined: 3/25/2006 Location: UK User Profile |
Just one look at the order flow in the trade plan shouldn't every layer of the fixed profit stop should have an order?? Regards Frank Birch |
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