I am new to the tradestation platform and learning EasyLanguage.

I am trying to do a simple strategy where on Each day a new high is made, old Sell Stop order is canceled and new Sell stop order with Stop Price at 2% below high is entered.

I do not know why this code does not work.

Inputs: Percentage(2);

//Entry
If Date = 1110316 then
Buy( "Buy" ) next bar at market ;

//Exit
If MarketPosition = 1 then begin
If High[0] > highest(high,BarsSinceEntry) then begin
Setstopposition;
Setpercenttrailing(High - EntryPrice,Percentage(2));
end;
end;


I am using the SPY symbol form 2011-01-01 to 2011-06-30 . My trade is supposed to open on 2011-03-17 and closes on 2011-04-12.

Thanks in advance for any assistance.

Hi jeemba,
I am afraid, but the reserved word Setpercenttrailing doesn't work like that. You would need to do something like this:

 

Code

//Exit If MarketPosition = 1 then begin If High[0] > highest(high,BarsSinceEntry) then MyStopPrice = High - High * .02; Sell ("SX") next bar MyStopPrice stop; end;

You should give MyStopPrice a value when you open the trade, too.

Regards,
ABCTG