Hard and Soft stops: Automatic stop movement
Last updated
Last updated
The user can define, activate and deactivate fully functional trading setups via the Setup Builder.
You can find further details about trading setups in the Setup Builder section.
For each setup, the user should adjust the hard and soft stops.
You can find further find details on the page Setup Builder: Configuration Tab.
Hard stops are the stop methods that are applied to the stop orders. Basically, a hard stop is intended to be used for catastrophic scenarios. The HardTrail stop is always connected to the actual stop order as soon as the position is opened. This means that once the HardTrail stop level is crossed, the entire position is closed.
You can find further details about the hard stop on the page Hard Trail Stop.
Soft stops do not close a trade immediately after being crossed by a closing price. Once the soft stop is crossed by the closing price, the hard stop is triggered and moved accordingly.
You can find further details about the soft stop on the page Soft Trail Stop.
We configure trading setup as on picture below:
Initial Stop Escort is set as a Pivot Slow. It means stop use Swing (30) indicator as a stop.
HardTrail Stop is set as Keltner Channel. This stop use Keltner lines as a stop (lower for a long and upper for the short position)
SoftTrail Stop is set as SuperTrend. This stop uses SuperTrend indicator as a stop.
Target Escort is set as No Target. It means we don't use targets in this setup
You can find more details about stop setups on the page Setup Builder: Stop Escorts.
First, stop starts at Initial Stop position (Pivot Slow). After the first bar was closed, stop automatically moves the same way as Keltner lower line (according to HardTrail Stop setting). On a chart, HardTrail Stop looks like a solid line. SoftTrail stop also starts after the first bar is closed. It moves similar to SuperTrend indicator (according to SoftTrail Stop settings). SoftTrail stop displayed as dot line on a chart.
In case User wants to switch off automated stop movements just configure trading setup as on picture below. After Stop will be placed according to Initial Stop settings and may be moved only manually by User.
Attention! Hard and soft stops are moved automatically according to your stop setups. You can find more details about stop setups on the page Setup Builder: Stop Escorts.
