how to use trailing stop in scalping.

[princegolds]

Hello, I scalp crude oil futures market. I use +10-10 and +20-20 TP & SL. If I'm trading large contracts I trail my stop to entry.

I want to develop a new strategy in which when the price reached +4 I need the stop moved to +1 and for every additional tick, the stop should trail additional tick. Like at +5 the stop moved to +4 and at +6 stop moves to +3 automatically. Please help on this. Thank you!

[NinjaTrader_Matthew]

Hello princegolds,

Thank you for your post.

You will be able to accomplish this by using a single stop strategy with auto trail:

Stop Loss: 3
Frequency: 1
Profit Trigger: 4

With these settings, after 4 ticks in profit, your stop will be moved to your avg entry price +1, or 3 ticks from the last traded price.

Then with each additional tick, you will see the stop trail the market price by 3 ticks.

[princegolds]

Thanks, but I wanted to ask why is the profit trigger set to 4?

[NinjaTrader_Matthew]

Hello,

Because this is your initial trigger which will enable the profit trigger. You had said after price reached +4, you would like to start the strategy and move your stop to +1.

Then the frequency of 1 well ensure this auto trail continues to function with each additional tick (+5, +6, +7, etc).

Please let me know if you need further clarification.