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>my entries of both my short sells and buy long signals have been great but
usually are few and far between and only give about 10 percent
>profit before they turn on me. i would like to hard code a stop for my
exit signals.
>i want a trailing stop of 5 percent above the executed price and never to
loose more than 10 percent from the executed price. also if a stop is
>hit i would like to exit the next day at the open.
this is a good example of why so very many good discretionary traders give
up on building a system to trade with. if you examine what kathy wants you
will see that if in fact you coded it the way she describes, it would always
exit when her 5% was hit. this is where you really have to know your
system and run countless statistics to know exactly what is what. see she
is asking that the price hit 5% profit and in order for it not to be stopped
out the price would have to continue trough that price and never tick even
one tick against it. if this is her true intentions my apologies. i
believe it would make more sense to let the trade become 5% profitable and
then place a stop at breakeven or some amount of a loss if you wish more
risk. what would really make sense since you are happy with the entries
would be to trade two contracts risk 10% and then once they have moved 10%
profitable, exit one of them and keep the other with a stop placed now at
breakeven. then the one contract that is left could be better trailed off
some most recent high a set amount
>because im very new to this forum i thought i would plead for any
suggestion on how to do this with EL without using TS 4.0's software money
management system.
this is truly not an option as you have discovered, for a real trader i'm
glad you have done your homework. those built in stops work for a reason,
hindsight being the primary one.
>regards. traderzee
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