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Open Feature request MC-1527

Multiple improvements to the chart trading to add flexibility for discretionary traders

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Rigth now the chart trading abilities seem to be very basic.
Multiple improvements can be made to add a higher degree of flexibility for the discretionary traders not so familiar with programming strategies.
I. One order type to implement would be a position size varying stop level.
Position sizing depending mainly on the stop value and entry order level, as an input for the position size calculation the maximum risk in dollar or percentage of equity is used.
In detail this is done as following :
1. Setting the maximum initial risk within the order type settings
2. An Entry order level is selected and drawn on the chart
3. The default stop level fixed distance to the entry level is drawn onto the chart
4. By moving either the Entry order or the stop level, the position size is adjusted maintaining the initial risk as specified in the settings corresponding to this type of order.
II. Another way to improve the chart trading flexibility would be a way to add a exit order depending on a trendline or an indicator level. This should be done by
1. The indicator or trendline should be selected with right click
2. In the context menu select bullet use as exit strategy ( maybe there is a better phrase for it )
3. After that, a menu opens asking whether the complete position size should be exited, or only a specified fraction of the actual position size should be entered.
II. The definition of soft stops and hard stops should be possible. A soft stop is a stop level which is only executed after the close of the current bar, which penetrated the level is still penetrating this level. Therefore in case of a buy stop order the bar should close above the stop level to transform the stop order into a market order.
Hard stops are stops, which are placed, in case of a long entry, below the soft stop order those are executed in case this level is penetrated a execution is done immediately.

Steps to reproduce this issue

It is a feature request, therefore this is left intentionally empty.

Comments (1)
user-offline.png  Michael B (michael b)
Nov 22, 2017 - 06:39

Excellent request! I hope it will take under consideration

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