Real and Virtual Trailing Stops for One Position per Symbol

Summary

This document describes a trailing-stop service that can manage one open position per symbol. For a real stop, the trader includes the desired stop distance in points in the order comment. For a virtual stop, the trader creates a horizontal chart line for the same symbol, assigns it the expected name, and enters the stop distance in the object's description. The service then uses these settings to manage the trailing stop.

The notes explain how to disable each mode: remove the chart line for virtual trailing or stop the program for real trailing. They also stress that the stop distance must suit the trade direction. The document contains setup and usage instructions but does not explain the trailing calculation, update frequency, handling of gaps or execution failures, or any test results. Its stated capacity is limited to one open position per symbol; supporting more positions on the same symbol requires modifying the service.

Key ideas

• A real trailing stop takes its distance from the order comment.
• A virtual trailing stop uses a named horizontal chart line and its description.
• The stop distance must account for whether the position is long or short.
• Deleting the chart line disables virtual trailing, while stopping the program disables real trailing.
• The service handles only one open position per symbol unless modified.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.