trailing stop limit

[coello1102]

hello
In The trading platform thinkorswim how can I stablish a stop limit formula on each stock that is the result of 30% from the market price minus the buying price
example buying price is 100 market price is 200
200-100=100
30% of 100=30
200-30=170 automatic selling order and is done all trading days until cancel
in case you do not have it please do it it will facilitate trading and will be a hit among trading services
thank in advance
eduardo coello

 

[JoeDV]

Probably something along the lines of :

plot TrailStop = close - (EntryPrice() * 0.3);

Not able to test it at the moment but should get you started. You can always put your trail as a fixed dollar, so just a matter of calculating the 30% on entry.

 

[coello1102]

Thank Joe
I will try
It is true that I can put a fixed dollar but with many different order posts its time consuming and mistakes are greater probability
I will keep you posted

 

[coello1102]

Hi Joe
Your post meaning =(mark price-trade price(bought))X.3
how and where I post this formula?
I am new on Thinkorswing
Thanks in advance best

 

[JoeDV]

Hi Joe
Your post meaning =(mark price-trade price(bought))X.3
how and where I post this formula?
I am new on Thinkorswing
Thanks in advance best

You were a little vague in how you wanted to see or use the stop. Please elaborate on what exactly you're trying to do and we'll go from there.

 

[coello1102]

Hi Joe
Its true lets go to details

The idea is to learn how to place a trailstop order where on the upside there will be a stop limit of 30% profit downturn.

EXAMPLE

BUYING price= $100

Next day market price= $120

Profit $20

30% of $20=$6

Stop limit =$120-$6=$114

The trailstop will be $114

Every time the market price varies, the 30% stoop limit is recalculated

Thank you in advance

 

[coello1102]

Hi Joe
Any news on the subject ?
let me know
best
eduardo coello