Trailing stop

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Joined: Tue May 05, 2020 8:13 pm

Trailing stop

Post by avalo » Sun Oct 18, 2020 1:03 am

It would be great to have a simple way to set a trailing stop that would move with price, e.g., a sell order that moved upwards with a long entry. I read everything in the Bookmap manual I could find and tried experimenting (in simulation) with different order types, and nothing seemed to be working.

After extensive tinkering, I contacted the book map helpdesk and had a remote session.  We were both new to the subject and after an extended session, learned that the trailing stop was operating during the remote session, but in a highly unusual way.  The trailing stop has to be placed within one tick of the price to work.  We verified this unusual requirement by contacting the development team.  

A one tick stop is not helpful; it as anyone who trades the NQ futures knows, a tick stop of 10 or 15 ticks is the bare minimum since the NQ market is volatile. A one tick stop would result in a lot of unnecessary commissions and false exits.

It seems a working trailing stop is a minimum requirement for risk management, yet in Bookmap the option isn't available.  If anyone else has experienced this issue with trailing stops, would you please write something in the forum?  The development team follows the forum for ideas and weighs the relative importance of requests they receive.