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I have added a pyramid entry (only one additional buy) to a trend following
system of mine. However, I have encountered a problem creating a stop loss
exitlong based on that second entry alone. My entry could not be simplier.
I simply enter on the open after an end of day signal the night before. But
what I want to do--and what I'm having trouble with--is to have a stop loss
exitlong based on that second long entry into the already-long position. I
want to use the same stop loss exit I use for my original entry, except have
it be based on the entry price of the second entry. I use 2 times Average
True Range of the last 20 bars as my stop loss. And, as I said, I want that
caculated, not from the primary entry point, but from my secondary (pyramid)
entry price.
Does anyone have any ideas?
Thanks in advance!
Jim
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