Trailing Stop Order?
Trailing Stop Order?
23 May 2016, 20:59
Hi,
I'm very new to this platform. I've looked up your help pages and searched the forum, and still I can't find exactly what I'm looking for, which is nothing super fancy IMO.
I've tried your Advanced Stop Loss, Take Profit, etc, but I can't find the Trailing Stop Order functionality. Let me explain what I mean: let's say I buy at 20$ and put a TP (Take Profit) at 30$. I'd set a Trailing Stop Order with a margin of 2$.
What this would do for me is maximize my profits, and this is how: when the price gets at 30$, it won't close my order. Instead, it will see if it grows more, let's say: 32$, then 36$, 40$... Now, the moment the price starts to decline from that maximum point (40$) the 2$ margin I set up would protect me. If the price keeps falling and reaches 38$, then the order is closed.
Am I wrong somewhere? Is this functionality in cTrader?
Replies
kricka
10 Jun 2016, 15:19
Break-even and trailing stop
The Market Order 3.0 cBot has a trailing stop and also move to break-even with additional pips that can be added on to place the stop loss strategically right.
It's free to download and use on both live and demo accounts.
Information and download link: Market Order 3.0
@kricka
robert.vanderlaan
21 Nov 2019, 15:57
( Updated at: 21 Dec 2023, 09:21 )
RE:
Spotware said:
Dear Trader,
The Trailing Stop Loss now resides on the server, it works when cTrader is closed. You can apply it when creating an order. It has also been simplified, please enter the number of pips it should trail the spot price for, and it will move every pip.
Hi,
Are there any plans to have actual settings for the trailing SL, separate from the regular SL
(as that's kinda the whole point with this, as somebody explained in their example. So the
trailing SL gets triggered once the regular SL price or % or pips change is hit)?
Right now, you have trailing giant stoploss at the size of your regular stoploss
as there's only 1 stoploss setting..
- Oh and is it also possible - or is there a bot - to have the order panel automatically change
to the actively selected market (currency/instrument) graph that is selected?
Now, you can be on a EU/USD chart, then you go to another tab with GBP/USD and the
order panel is still on EU/USD. You have to manually change it, or you have to either have your
sidebar with your bookmarks open and click on the matching one, or have to already have
an open order and click on it (as it *does* automatically change to the correct market in
those cases)
Thanks.
@robert.vanderlaan
robert.vanderlaan
21 Nov 2019, 16:19
RE: Break-even and trailing stop
kricka said:
The Market Order 3.0 cBot has a trailing stop and also move to break-even with additional pips that can be added on to place the stop loss strategically right.
It's free to download and use on both live and demo accounts.
Information and download link: Market Order 3.0
Sounds great, but I'm not able to download, nor does it seem free...
When I go to the page and the download link there, you get a '403' error page.
When I register a free account (which is not secured btw, no https on a subscription form that
asks for email, password, home address, phone nr and more...) I get stuck on a backend page
that talks about subscriptions and paid products and even clicking on the home link, just
reloads the page and doesn't go to the rmmrobot homepage.
When I manually go back to the page rmmrobot download page and reload, I'm not logged in.
When I try to log in, it doesn't recognize the login details (that worked fine in the backend, after I registered).
If it's still available, please let me know where and how to get it.
Appreciate!
@robert.vanderlaan
PanagiotisCharalampous
21 Nov 2019, 16:23
( Updated at: 21 Dec 2023, 09:21 )
RE: RE:
robert.vanderlaan said:
Spotware said:
Dear Trader,
The Trailing Stop Loss now resides on the server, it works when cTrader is closed. You can apply it when creating an order. It has also been simplified, please enter the number of pips it should trail the spot price for, and it will move every pip.
Hi,
Are there any plans to have actual settings for the trailing SL, separate from the regular SL (as the whole point is with this,
as somebody explained in their example. So the trailing SL gets triggered once the regular SL price or % or pips change is hit)?
Right now, you have trailing giant stoploss at the size of your regular stoploss as there's only 1 stoploss setting..
Hi Robert,
We do not have such plans at the moment.
Best Regards,
Panagiotis
@PanagiotisCharalampous
robert.vanderlaan
22 Nov 2019, 00:02
RE: RE: RE:
Panagiotis Charalampous said:
Hi Robert,
We do not have such plans at the moment.
Best Regards,
Panagiotis
Thanks for replying,
though sad to hear that.
It's such a strange decision, do you know why it has been done this way, instead of
how normally a trailing SL works?
(The whole point of the trailing SL is to move and tighten the SL after you're
in profit, sort of like with the 'Move SL to Break-even' but then trailing and
with your own - most likely, much tighter - settings).
@robert.vanderlaan
PanagiotisCharalampous
22 Nov 2019, 09:06
Hi Robert,
It in not a this way vs the other way case. It is just an extra feature that is missing. While we understand that this is a handy feature for traders, by adding this will we will have to load the server with even more tasks i.e. checking all positions if and when should the TSL kick in, which translates into having to allocate more resources on our side. It always boils down to finding the balance between features and efficiency. And since this is an easy feature to be programmed into a cBot and be managed on the client side, we chose not to include it as a built in feature for the moment.
Best Regards,
Panagiotis
@PanagiotisCharalampous
robert.vanderlaan
22 Nov 2019, 15:03
RE:
Panagiotis Charalampous said:
Hi Robert,
It in not a this way vs the other way case. It is just an extra feature that is missing. While we understand that this is a handy feature for traders, by adding this will we will have to load the server with even more tasks i.e. checking all positions if and when should the TSL kick in, which translates into having to allocate more resources on our side. It always boils down to finding the balance between features and efficiency. And since this is an easy feature to be programmed into a cBot and be managed on the client side, we chose not to include it as a built in feature for the moment.
Best Regards,
Panagiotis
I'll try that client side cbot workaround, but aren't those dependend on your computer - and cTrader - being on at all times,
as it's not executed by your servers?
I appreciate you have to weigh things, but I disagree with it being an extra feature to the trailing SL.
It fundamentally is what a trailing SL is in this case (not only as a standard but most of all, due to what its function is
(which I won't repeat but the OP and I as well mentioned in a previous post).
It's why people are surprised when it's not working as such on cTrader.
Since there's no plans for this to change, it would be good to make it much more clear in your demo/tutorial videos
and refer people to that cBot piece of code.
Thanks for the response though.
Enjoy your weekend.
@robert.vanderlaan
Spotware
24 May 2016, 10:26 ( Updated at: 21 Dec 2023, 09:20 )
Dear Trader,
The Trailing Stop Loss now resides on the server, it works when cTrader is closed. You can apply it when creating an order. It has also been simplified, please enter the number of pips it should trail the spot price for, and it will move every pip.
@Spotware