Can you tell me if there is a way in which I can have an auto-breakeven that automatically adjusts itself please?
What I am trying to achieve is to trade 4 contract on the YM with an initial stop of i.e. -10 on all 4. At profit level +5 I take 2 contracts off, at profit of +10 I take another off then let one run. I have been using no stop strategy for targets 1 and 2 but using the autobreak of position 3 to adjust the stop to breakeven +1 on a profit of +6. This works well but then I tried to adjust things so as to manage the 1 running open contract. I tried to set the autobreakeven from position 1 to breakeven+1 at profit +6 and then use the breakeven of position 2 to move it to breakeven +5 at profit +11 and then autobreakeven of position 3 to move it to +10 at profit +20. This didn’t seem to work as no autobreakeven adjustments we made during the trade to +15 point, where I close the position.
I could use trailing stops but I want fixed stops rather than trailing stops. Not sure if I have made any sense above. I guess what I am asking is can you set multiple autobreakeven criteria that adjust themselves upward as the trade progresses within 1 strategy using the 3 positions, or is only 1 possible?
Many thanks
What I am trying to achieve is to trade 4 contract on the YM with an initial stop of i.e. -10 on all 4. At profit level +5 I take 2 contracts off, at profit of +10 I take another off then let one run. I have been using no stop strategy for targets 1 and 2 but using the autobreak of position 3 to adjust the stop to breakeven +1 on a profit of +6. This works well but then I tried to adjust things so as to manage the 1 running open contract. I tried to set the autobreakeven from position 1 to breakeven+1 at profit +6 and then use the breakeven of position 2 to move it to breakeven +5 at profit +11 and then autobreakeven of position 3 to move it to +10 at profit +20. This didn’t seem to work as no autobreakeven adjustments we made during the trade to +15 point, where I close the position.
I could use trailing stops but I want fixed stops rather than trailing stops. Not sure if I have made any sense above. I guess what I am asking is can you set multiple autobreakeven criteria that adjust themselves upward as the trade progresses within 1 strategy using the 3 positions, or is only 1 possible?
Many thanks
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