Simplified Trailing Stop

• 05/10/2024 at 12:52 PM #232525
  DeathMetal

  Hello, after following the discussion on the forum about trailing stops, I think this is way too complicated, so I made a simplified version. We start with a trail stop a few points below our entry price, so that if things start immediately against us, we keep a good mood. If the trade comes our way, the trail stop will be increased. Furthermore, we always sell our trades “at market” so that we do not have to take restrictions from the broker into account (especially when announcing important economic data, for example)

  Simpified trail stop

  Moving stoploss ///////////////////////////////////////////////////////////////////// //// values for DAX //////// //////////////////////////////////////////////////////////////////// SET TARGET pPROFIT 100 // max profit SET STOP pLOSS 35 // max loss ///trailing stop function trailingstep = 25 // trailing step to move the "stoploss" firstStep = 10 // set newSL at x points under buying price by start //reset the stoploss value IF NOT ONMARKET THEN newSL=0 OpenAtpriceL=1000000 OpenAtpriceS=0 ENDIF ////////////////////////////////////////////////////////////////////// /// managing positions ///// ////////////////////////////////////////////////////////////////////// //manage long positions IF LONGONMARKET THEN //first move (a tiny bit under buying price) IF newSL=0 THEN OpenAtPriceL= close newSL = OpenAtPriceL - firstSTep ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep THEN newSL = newSL+trailingstep ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN IF newSL=0 THEN OpenAtPriceS= close newSL = OpenAtPriceS + firstSTep ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep THEN newSL = newSL-trailingstep ENDIF ENDIF // exit the positions IF newSL>0 and LongOnMarket THEN IF close < newSL THEN SELL AT Market ENDIF ENDIF IF newSL>0 and ShortOnMarket THEN IF close > newSL THEN EXITSHORT AT Market ENDIF endif

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  Moving stoploss ///////////////////////////////////////////////////////////////////// ////                     values for DAX                     //////// //////////////////////////////////////////////////////////////////// SET TARGET pPROFIT 100  // max profit SET STOP   pLOSS   35   // max loss   ///trailing stop function trailingstep  = 25 //  trailing step to move the "stoploss" firstStep = 10     //  set newSL at x points under buying price by start   //reset the stoploss value IF NOT ONMARKET THEN newSL=0 OpenAtpriceL=1000000 OpenAtpriceS=0 ENDIF     ////////////////////////////////////////////////////////////////////// ///                         managing positions                   ///// //////////////////////////////////////////////////////////////////////   //manage long positions IF LONGONMARKET THEN //first move (a tiny bit under buying price) IF newSL=0  THEN OpenAtPriceL= close newSL = OpenAtPriceL - firstSTep ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep THEN newSL = newSL+trailingstep ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN IF newSL=0  THEN OpenAtPriceS= close newSL = OpenAtPriceS + firstSTep ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep THEN newSL = newSL-trailingstep ENDIF ENDIF // exit the positions IF newSL>0 and LongOnMarket THEN IF close < newSL THEN SELL AT Market ENDIF ENDIF IF newSL>0 and ShortOnMarket THEN IF close > newSL THEN EXITSHORT  AT Market ENDIF endif

   

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  MobiusGrey, GraHal

  

  DeathMetal

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  05/10/2024 at 1:27 PM #232528
  DeathMetal

  Don’t copy the first line. (1. moving stoploss)

  

  DeathMetal

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  05/10/2024 at 2:18 PM #232529
  Aragorna

  Hi Deathmetal,

  thanks for this. I’ve experienced problem with stop loss, especially stop limit order refused by broker during the trailing. is it this kind of problem that it overcomes? thanks

  Alessio

  

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  05/10/2024 at 2:41 PM #232531
  DeathMetal

  Yes, that is correct

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  KumoNoJuzza

  

  DeathMetal

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  05/12/2024 at 8:27 AM #232563
  KumoNoJuzza

  Interesting. I will amend my trailing “stops” without orders at market.

  

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  05/12/2024 at 6:18 PM #232587
  KumoNoJuzza

  I mean with of course.

  

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  05/12/2024 at 8:28 PM #232589
  JS

  Using “market orders” in a trailing stop is fine, but only on a fast time frame… you don’t want to wait too long for your  Trailing Stop Market Orders to be executed…

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