Hi, I just signed up for MotiveWave and are too stupid to create a Trailing Stop Order. I am looking to raise a Trailing Stop Order for S&P 500 Futures. I am using Interactive Brokers. When I am entering a future position at market (long or short) I am also looking to add automatically a trailing stop order which risis in pre-defined ticks if the market goes in my favour and stops me out once the price hits the stop price. Is it possible to do this in MW? Can someone explain how to do it? Thanks
Not sure how to tag something. I also posted at their forum yesterday morning and they still did not reply.
Hello rainbow47, You will need to create an exit strategy from a trade panel or DOM. Once enabled the exit strategy will automatically attach to each order you submit. To create an exit strategy, click on the trade panel or DOM preferences icon and go to the Exit Strategy tab. The attached image below shows an example of a 10 tick trailing stop. You can find more information on exit strategies on page 22 of our What's New in Version 6 guide located here https://www.motivewave.com/guides/Whats_New_In_Version_6.pdf
@ MW: This is exactly what I did but it is not working. I basically use the parameters from your screenshot and exute a trade from the trade panel (eg. sell market). The exit strategy feature is activated and the strategy selected from the drop down. The problem is that the Stop Loss does not trail. It just remains at the same level although the market goes in my favour and exceeds 10 ticks. For reference, I am trading S&P Futures (ticker ESM0 ) and my broker is Interactive Brokers. Can you see if you can replicate the problem?
I did already a few times. And they replied with the same messgae like you. I reolied again and explained that it is not working. Would be great if someone on your side could try to replicate the problem.