Closing a trade using a bot
Hi,
This application seems excellent, especially for someone who has been trying to build automated systems via Sierra Chart Spreadsheets.
I see it is possible to create entry and exit bots, which once activated have targets and limits.
How would you create a bot to monitor and exit the trade, once in a position ?
For example I may want to remain in a short trade, as long as the market stays below the 5 minute moving average. As soon as it hits the 5 min moving average, I want to close the short.
Is it a case of creating and activating a bot in the opposite direction (e.g. a 'buy' bot when short), once a trade has gone live ? Is it possible to automatically trigger a 'trade close bot', once in a trade ?
Thanks
-
I'm going to take a stab at this question, but I'm new to SierraChart and Sceeto and I know the question is 10 months old as I am answering....
If you are entering the trade, the SierraChart trade window probably has all the necessary functionality to move up a stop to breakeven or to trail the stop and you can enter a bracket order with a target when you click on the chart.
That doesn't mean that turning the management over to a bot isn't possible, but that I just haven't seen an example so far where that's the case. The bots seem to be setup only for entry and the exits are managed by the target entered in the bracket order.
Did you ever find another answer?
Best Regards,
Jason
Please sign in to leave a comment.
Comments
1 comment