Hi
I know how to use auto breakeven in the standard way I think. Using auto breakeven
and adding an extra tick, one would place a profit trigger of 4 plus 1.
So this is what I'm thinking:
Stop=5
Target=5
Auto breakeven 4 plus 1.
But what I'd like to do is also have an auto breakeven plus 1, if the price
went (if a long trade) down 4 ticks after entry. The concept is that, I thought the price
would go up my 5 ticks, however it went down 4 ticks instead. It is unlikely
my long trade will work out. The price would have to move 8 ticks upward, just
to get to the point of the original breakeven plus 1. To be fully profitable it would
even have to go to one more tick higher, to hit the original target of 5 ticks. So that
would be a 9 tick upward move to be fully profitable. Which might be quite unlikely.
I've included an image if I haven't been clear. Assume a long order would have been
placed at 1.3037 with the SuperDOM. An aggressive attempt to take
advantage of a possible double bottom, that might just form at 1.3036, give or take.
In hindsight, the price went down 4 ticks then up past the original entry price plus 2 or
3 ticks, then down again to be a losing trade.
I thought about using Auto breakeven with, I guess, negative numbers in the AutoTrail boxes.
Not sure if that would work. I didn't seem to when I briefly tried.
(back in a few days)
- Stephen
I know how to use auto breakeven in the standard way I think. Using auto breakeven
and adding an extra tick, one would place a profit trigger of 4 plus 1.
So this is what I'm thinking:
Stop=5
Target=5
Auto breakeven 4 plus 1.
But what I'd like to do is also have an auto breakeven plus 1, if the price
went (if a long trade) down 4 ticks after entry. The concept is that, I thought the price
would go up my 5 ticks, however it went down 4 ticks instead. It is unlikely
my long trade will work out. The price would have to move 8 ticks upward, just
to get to the point of the original breakeven plus 1. To be fully profitable it would
even have to go to one more tick higher, to hit the original target of 5 ticks. So that
would be a 9 tick upward move to be fully profitable. Which might be quite unlikely.
I've included an image if I haven't been clear. Assume a long order would have been
placed at 1.3037 with the SuperDOM. An aggressive attempt to take
advantage of a possible double bottom, that might just form at 1.3036, give or take.
In hindsight, the price went down 4 ticks then up past the original entry price plus 2 or
3 ticks, then down again to be a losing trade.
I thought about using Auto breakeven with, I guess, negative numbers in the AutoTrail boxes.
Not sure if that would work. I didn't seem to when I briefly tried.
(back in a few days)
- Stephen
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