Hi,

Can you create a Custom Trailing Take Profit for strategies?
This would help with minimizing losses if a trade does not go the right way.

Thank you,
mosu_d

Hi,

TP profit with trailing step can be built in blocks but this depends on the way you define it. If you expect a TP to work exactly like a SL with trailing step then this is not possible because it wont be executed (imagine a TP level that keep moving away from the market level) But if you have an idea on how your TP will move and when to be executed then you can tell us and we'll help in the implementation.

Cheers

Thank you for considering this !

I did this with bloks, but it gets really messy when handling both long and short positions...
Biggest problem was order resubmission in less than 1 s.

I don't want the TP to run away from the price, instead, follow the price as Custom SL does.

Managing bad trade:
1. consider entry level; position filled
2. price goes towards SL. Usually, prices retrace slightly towards TP before reaching SL.
3. if price is in the wrong direction, passed a certain threshold (this is done with blocks)
4. call custom TP to follow the price, in the hope of catching a retrace and decreasing losses.

Regards,
mosu_d

I see,

Did you made any progress on the above ?
For the Trailing TP, it could be something like : If the candle amplitude reaches a given size the TP moves (or not) Otherwise it stays at the same level.

What do you think ?

Hi Amine,

Yes, I also made logic with blocks to handle spike candles from news,
but I think this is a different discussion. Trailing TP could be useful here also.

Is the logic below a good example for using trailing TP?

Managing bad trade:
1. consider entry level; position filled
2. price goes towards SL. Usually, prices retrace slightly towards TP before reaching SL.
3. if price is in the wrong direction, passing a certain threshold (this is done with blocks)
4. call custom TP to follow the price, in the hope of catching a retrace and decreasing losses.

Regards,
mosu_d

Well ... depends on how good you implement it
Can you post an example with your progress implementing idea and I'll help you ..

Cheers

Thank you for the offer Amine,

I did it already and it is working.
On the other hand, the strategy would be much cleaner with a Custom Trailing Take Profit block instead of many other blocks for same logic.

Hence this enhancement request.

Thank you again for the offer,
mosu_d

Hi there,

Any news for adding Custom Trailing Take Profit?

Thank you,
mosu_d

Hi,

I'm still not 100% convinced that this idea could be implemented as a new feature as I don't understand its standard way of implementation: This request is specific to your need and another trading idea could bring another way of trailing the TP order, thus how to collect a standard functional aspect to build a block that can be used in any case ?
In my opinion this is a user-specific need that should not be ready-made but rather built manually as it has to be customized( if not completely rebuilt) to fit any new trading idea.

Your comments and ideas bringing more light on this are more than welcome !

Cheers

It is also possible to write a tiny strategy in pure Java and run it parallel to your other trading system.
The strategy would search for open positions and trail them.
You can avoid the 1s changing rule by putting the trail command and new extended price request into a queue cache first, which is then processed at the latest price every second only.

We did many similar systems, also very sophisticated ones including exponential shrinking take profit and exponential shrinking stop loss functions.