So for example, I create an order management strategy for 2 contracts. I set the 1st with x as my stop loss and y as my target. I then set the 2nd contract with x as my stop loss and w as my target (w = 2y). I then set the profit trigger for the 2nd contract to the variable y.
So what should happen is that once target y is hit on my 1st contract, the 2nd contract's stop loss should move to BE. If this is not correct, please let me know. I think this will work fine.
Now final question. Let's assume I believe the highest probability of y being reached is if y = 4. I also believe y = 6 is a very good probability. Now using these values for y and or one of your suggestions, what is the best value to set w at or is using w as 2y good enough to meet standard risk vs reward setting and good trade management?
Finally, do you have a link of just showing how to set the 2nd contract so that the stop loss goes to break even when the 1st contract hits it's target without all those advanced strategies like auto trail which I don't need?
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