Track 'n Trade Autopilot Plug-in
In this Track 'n Trade Autopilot video, we're going to be discussing our Trailing Stop Loss Management features.
The first radio button labeled: No Trailing Stop. Means that Track 'n Trade will not advance the Stop Loss Order, beyond it's initial placement price.
The second radio button labeled: Continuous, tells Track 'n Trade to automatically advance the Stop Loss Order based on the Entry Amount listed in the previous Stop Style section.
For example: With each Price advance in the market, Track 'n Trade would also advance the Trailing Stop. Maintaining 10 Points, or Pips back form the highest or lowest price level achieved. If the market then falls back within 10 Pips or Points to say 8 Pips or Points, then Track 'n Trade would hold the Stop at that level until the market begins to advance, once again.
Of course, if the market retraces a full 10 points, or Pips, then the Stop Order would be executed and you would be out of the market.
The next selection is Until Break Even. If selected, Track 'n Trade will automatically Trail the Stop Loss Order, based on the entry amount listed in the previous section. Until it reaches the Price Level of the Entry Order.
Upon reaching the same Price Point as the Entry Order, Track 'n Trade will Stop the automatic trailing of the Stop Order and leave it active at the Break Even Price Level.
The Track 'n Trade Autopilot also has the ability to automatically trail the Stop/Loss Order, based on several indicators; which have specifically been designed to help maximize the Stop Loss Order profit potential.
The first, is the P-SAR or Parabolic-SAR. That stands for Stop and Reverse. The second is the Bulls 'n Bears Blue Light System. The third is the ATR, or Average True Range.
All three Stop Loss Order Systems, work on the same basic principal. Other than the fact that the Blue Light System has been mathematically and hyperbolically linked into the Bulls 'n Bears Red Light, Green Light formulas. They are automatically calculated from within the Bulls 'n Bears System. Whereas the Parabolic-SAR and the ATR Stop Systems are user-definable.
When one of these three Auto-Trailing Stop Systems are selected, Track 'n Trade will automatically place the Stop Loss Order at either the initial Price Level specified previously. Such as, 5 Price Bars back, or on the first Price Bar point of the selected system. Whichever is closer to the market.
For example: If you specify the initial placement of the Stop Loss Order to be 5 Price Bars back, yet 5 Price Bars back is closer to the market than the initial point of the Parabolic-SAR, Track 'n Trade will place a Stop Order 5 Price Bars back. Then wait to begin trailing Stop Loss Order, until the Parabolic-SAR's Stop Price Point has surpassed the initial 5 Bar Price Back level.
This will be the same behavior for all three mathematically calculated Stop Systems.