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OmniTrader Professional Forum
Trade Plans In Strategies
Layered TRailing Stop PLan
Last Activity 1/17/2022 3:59 AM
11 replies, 319 viewings

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Duxx

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Subject : Layered TRailing Stop PLan
Posted : 12/29/2021 3:43 PM
Post #31767

Hi,

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 - 16 downloads)
Attached file : Capture.PNG (34KB - 27 downloads)

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Barry Cohen

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/6/2022 9:50 AM
Post #31801 - In reply to #31767

I'm not exactly sure what you're asking. Here is the trade plan you posted. I don't see any additional steps in it though. If you look at the Partial Exit trade plan that one is a multi-step trade plan & you can see how it's built.

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only have one step active at a time though, & once it moves to another step, then all the stops in the prior step are no longer active.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 - 183 downloads)

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Duxx

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/6/2022 11:38 AM
Post #31802 - In reply to #31801

Happy New Year Barry....

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 - 10 downloads)
Attached file : Capture.JPG (62KB - 12 downloads)

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Barry Cohen

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/6/2022 11:56 AM
Post #31803 - In reply to #31802

Here is the new trade plan you posted, which is a multi-step, so that's good. My answer is the same though...

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 - 168 downloads)

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Duxx

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/6/2022 3:22 PM
Post #31806 - In reply to #31803

Thank you Barry, is there a work around where the TP can carry the prior stop until the new step stop is triggered?
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Jim Dean

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/6/2022 3:43 PM
Post #31812 - In reply to #31806

On each new step, you need to REPEAT the conditions from the prior step if you wish to continue using them.
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Frank Birch

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/7/2022 1:08 PM
Post #31816 - In reply to #31812

Hi Duxx,

Try this I think I have a grip on what you want to achieve.

Regards

Frank Birch


Attached file : FBJSFOREXCPS3Ver2.ott (112KB - 16 downloads)
Attached file : FBJSFOREXCPS3.ott (112KB - 16 downloads)

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Frank Birch

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/7/2022 1:29 PM
Post #31817 - In reply to #31816

Hi to all,

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
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Duxx

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/9/2022 12:58 PM
Post #31819 - In reply to #31817

Thank you Jim and FRank... I was able to make it work with your ideas.
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Frank Birch

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/10/2022 10:57 AM
Post #31827 - In reply to #31819

Hi Duxx & all,
Great news show us your outcome on a chart would be cool if you don't mind of course.

Regards

Frank
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Duxx

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/16/2022 10:04 AM
Post #31850 - In reply to #31827

FRank - sorry for the late response. Here are two pictures.

One interesting thing is that profit target is drawn not correctly in the chart.


Attached file : Capture1.JPG (164KB - 18 downloads)
Attached file : Capture.JPG (51KB - 22 downloads)

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Frank Birch

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Subject : RE: Layered TRailing Stop PLan
Posted : 1/17/2022 3:59 AM
Post #31853 - In reply to #31850

Hi Duxx & all,

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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