Hello. It would be nice to adjust Stop Loss and Target after trade has been open. To require this info up front without ability to adjust on the fly is unfortunate to momentum traders.
But of course this feature has always been available!
Just enter a "stop" order whenever you like (or a "limit" order for a profit target). They need not be entered simultaneously with your entry order. Adjust your orders as often as you like by using the REPLACE button that appears next to every live, still-working order.
Hi Matthew. Thanks for the info, however, I don’t see a “replace” button…just a “reverse” button. Please advise. Thanks,
Andrew
You are looking at your list of open positions. You can REVERSE an open position (from long to short, or short to long), which is why you see a “reverse” button next to every position. But you cannot “replace” an open position.
What you can replace is a working ORDER.
In other words, if you want to see a “replace” button, you’ll need to look for it next to each working (not-yet filled) order that you have entered.
I have glanced at your system, and at the time of my writing this, you have no working orders, which is why you are unable to replace any of them. (And why you see no “REPLACE” button.)
What you probably want to do (if I understand your posts correctly) is to now enter a stop-loss or profit-target order for any of your open positions. You can enter a stop loss or a profit target at any time, even after the position is opened. Just go to the order entry screen and type in the order. (Typically, a profit-target is entered as a LIMIT order, and a stop-loss as a STOP order.) Example: if you are long 3 EURUSD and want to set a profit target for price 1.234, you would enter into C2:
Sell To Close 3 EURUSD @ limit 1.234
Once you stop/profit-target orders are entered and in a “working” state, you will be able to REPLACE them as often as you like. You’ll see the “Replace” button appear beside them, and pressing it will allow you to (for example) change your stop-loss level from 1.234 to 1.999, or whatever.
O.k., that makes sense. I appreciate your time in explaining this. Take care,
Andrew
Hi Matthew. Recently I attempted to set up a reverse trade that would occur overnight. I was long AUDUSD and put in a stop loss. I also wanted to short AUDUSD if it hit the stop loss. I thought that I had set this up correctly, but in the morning I see that my stop loss was hit, but no short entry was activated. You can imagine my dismay. Please advise as to what happened or what I did wrong. The trades were supposed to happen on the night of the 3rd of September, EST. Thanks for your time.
Andrew[LINKSYSTEM_75030865]
Andrew:
You were long 2. You tried to enter a SELL 4 @ STOP xxx, but C2 rejected this with an error message and explained you can’t sell more than the quantity you have. Then, after receiving this error message, you entered an order to SELL 2 @ STOP xxx, and that order was accepted and, indeed, was properly filled.
If you want to reverse your position from long to short, or short to long, you need to break your order up into 2 pieces: the first to Sell to Close (i.e. go flat), the next to Sell to Open. This is necessary to ensure that autotraders stay in sync with your system.
To make this process easier, C2 offers an all-in-one “reverse position” feature, which will automatically take care of structuring your order in this way. Click the REVERSE button that appears beside any open position and C2 will guide you through the process.
So, in summary, the only order you entered which was accepted by C2, and was not rejected with an error message, was an order to SELL 2 at STOP 1.0238. This order was properly filled by C2, thereby flattening your long position.
No order to reverse the position from long to short was ever correctly entered into your system.
Try using the REVERSE button next time; I think that is what you are looking for.
