hi all,

i wish you guys could help with this request

i tend to manage core positions on the DOM, with multiple contracts, adding and selling quick using both market orders and limit orders, and i just can not find an easy way to get myself some protection, as i can not manually add stop loss while scalping. therefor, my logic would be : i need an OPEN PL max drowdown exit.

the current daily loss of SC could be a way, but then i would need to adjust it everytime i finish a trade, and it is not very handy.

there must be a way to tell SC : Flatten current DOM positions when current Open PL is " negative $xxx"

i would be happy to get any preliminary help or any directions on where to look.

thanks a millions to all

cheers from my sunny Island
Reno

Use attached orders

https://www.sierrachart.com/index.php?page=doc/AttachedOrders.html

thank you Kuuluud,

any specifics that would help me ? all i see in Sierra Chart attached orders is management by ticks or %.. and i'm looking for gross $$ management

Reno99 

i tend to manage core positions on the DOM, with multiple contracts, adding and selling quick using both market orders and limit orders, and i just can not find an easy way to get myself some protection, as i can not manually add stop loss while scalping. therefor, my logic would be : i need an OPEN PL max drowdown exit.

Kuuluud 

Use attached orders

Reno99 

thank you Kuuluud, any specifics that would help me ? all i see in Sierra Chart attached orders is management by ticks or %.. and i'm looking for gross $$ management

It won't give what you want, control of open P/L, but you did say that you have no time to set stop losses, and it will do that, automatically. That's a form of protection, and more than you have now.

Bob.

very true Bobwest thank you for the comment

i'm in contact with some guys who can developp this study for sierra, i will think about it. i'm still very surprised that this kind of thing does not come by default on a platform (it is the same on TT)

thank you guys, i will dig into that more, thanks for the feedbacks

I am sure this can be done with custom studies, but for now you can limit your risk with OCO orders.

There is also https://www.sierrachart.com/index.php?page=doc/GlobalProfitLossManagement.php

But then you have manually reset it every time.

yeah i've been spending some time with the daily loss management thing... but the reset button doesn"t seems to make a lot of effect... and i need something i feel secure with, to go on the MNQ or MYM