I saw this other thread about trailing stops but wanted to open a new topic for this question.
I'm trying to use the MC.NET API to create Trailing Stops and I have the following question. In Trailing Stops we usually have 4 components:
1. The initial stop distance from the entry price
2. The trigger price
3. The trailing distance to keep from last price
4. The trailing steps
For example these settings in OEC Trader are described as: (under bracket strategies)
---Trailing Stop---
Factor: Initial Stop in ticks, points or currency.
Trailing Trigger Factor: Amount the trade needs to move in your favor before the stop moves (trails).
Trailing Stop Factor: Amount the stop moves after the Trigger is hit.
Trailing Mode: How often the stop moves after Trigger is hit. EveryTick, EveryFactor, or Once.
How can we create trailing stops with the above settings in MC.NET? Is there any helper function for this?
Creating Trailing Stops [SOLVED]
- JoshM
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Re: Creating Trailing Stops [SOLVED]
As far as I know, trailing stops in MC .NET have on component: the trailing distance (in currency or price difference).In Trailing Stops we usually have 4 components:
1. The initial stop distance from the entry price
2. The trigger price
3. The trailing distance to keep from last price
4. The trailing steps
For example these settings in OEC Trader are described as: (under bracket strategies)
---Trailing Stop---
Factor: Initial Stop in ticks, points or currency.
Trailing Trigger Factor: Amount the trade needs to move in your favor before the stop moves (trails).
Trailing Stop Factor: Amount the stop moves after the Trigger is hit.
Trailing Mode: How often the stop moves after Trigger is hit. EveryTick, EveryFactor, or Once.
How can we create trailing stops with the above settings in MC.NET? Is there any helper function for this?
What you are talking about here seems to be two orders: (A) a regular stop-loss order, and (B) a trailing stop-loss order that replaces (A) when the trigger price (point 2) is hit.
There's no helper function in MC .NET that works like the four components of OEC Trader, to my knowledge.