I like the "breakeven all" strategy posted here viewtopic.php?f=31&t=13498&hilit=breakevenall&start=20 by moomoofx which help to put stop loss on breakeven automatically to not take any loss in case market turns against you. The reason this is especially useful for me is because it considers ALL positions, and you don't need to specify which order you want to put breakeven on. They all have their own breakevens. In case of automated trading this is very useful.
Now I am after a way to lock-in profits using a trailing stop. There are a couple solutions for trailing stops on the forum however they all require you to specify an order and do not consider ALL open positions you may have for given symbol. I think the most effective trailing stop is using SAR.
That is why I want to ask you to develop a strategy that I can use that would automatically set stops for open positions using SAR, and move them on each next dot. Move the stops on green points going up in case of long orders. And move the stops on red points going down with short orders.
However I understand I wouldn't be able to use the breakeven all strategy with this anymore and I would replace it with this trailing SAR stop because the strategy I linked always re-sets the stop whenever you move it. So the two strategies would clash.
Some rules:
- Only start placing the stop when position is in profit > 0.1
- Use ask price to set stops on short positions on sar dots moving down
- Use bid price to set stops on long positions on sar dots moving up
- Monitor each and all position independently (for one symbol)
- Be able to set up the strategy many times for each symbol
- Be able to specify SAR "Step" and "Max" parameters
This would be super helpful
