Systematically controlling take profit
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Old 08-15-2007, 06:41 PM
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Default Systematically controlling take profit

As the price hits various defined targets I would like to close out x number of lots but only want this to occur one time at each level.

i.e.

Open buy position
Price rises 30 pips above open
-- Close one lot

price then continues up to 60 PIPS above open
-- Close one lot

Then trade with a trailing stop until stopped out
-- Close remaining lots

My problem is that I only want each of these to occur "ONE" time. Meaning, if the price rises 30 above open and we sell off 1 lot I don't want it to sell another lot if it goes below 30 and then back up above 30 again.

Can someone assist / offer a suggestion on how I can control this?

Thanks,
Bob
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Old 06-17-2008, 09:32 AM
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Default

This should do what you want.
PowerSwing System For Long term trading.
mtp1.3 on post 2
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