Improvement of Trailing Stop Adjustment Based on Multiple Targets#329

Introduction:

I would like to propose enhancements to the trailing stop feature in Cornix to allow for automatic adjustment of the stop-loss when reaching multiple targets. The goal of this proposal is to improve risk management and increase profit opportunities by allowing the stop-loss to be raised incrementally as each target is hit, such as:

1. Raising the stop-loss to entry price after hitting the first target.

1. Raising the stop-loss to the first target after hitting the second target.

1. Raising the stop-loss to the second target after hitting the third target, and so on.

Currently, Cornix offers limited options to achieve this, such as “Breakeven” and “Moving Target”, but the two options cannot be combined simultaneously. These improvements would allow users to better manage their trades and enhance profitability.

Proposal Details:

1. Automatic Stop-Loss Adjustment After Reaching the First Target:

Once the first target is hit, the stop-loss should automatically move to the entry price without manual intervention. This ensures that the trade will not result in a loss after reaching the first target.

1. Raising the Stop-Loss to the First Target After Reaching the Second Target:

Once the second target is reached, the stop-loss should be raised to the first target. This ensures that users will secure at least a small profit if the market moves against them after hitting the second target.

1. Raising the Stop-Loss to the Second Target After Reaching the Third Target:

Once the third target is achieved, the stop-loss should move to the second target. This way, users can continue to lock in profits as the price moves in their favor.

1. Combining These Options:

The ability to combine Breakeven and Moving Target should be allowed, so that the stop-loss can be raised gradually with each target hit. This would give users more flexibility in managing their risk and profits.

1. Flexible Settings for Users:

Users should be able to configure how many targets they want this strategy to apply to. For example, users should be able to choose whether they want this to apply to all targets or select targets in each trade, based on their preferences.

1. Clear Instructions for Users:

The app should provide clear instructions and tooltips to explain how these options work and ensure users know how to set them up. Additionally, the app should notify users when their stop-loss is adjusted automatically based on the target reached.

Benefits:

1. Improved Risk Management: By raising the stop-loss after each target, traders can ensure they lock in profits or at least avoid losses after reaching every milestone.

1. Increased Profit Opportunities: This system allows users to continue making profits as the price moves in their favor without worrying about losing a winning trade.

1. Peace of Mind: It reduces the emotional stress of managing trades, as traders know their stop-loss is automatically being adjusted to secure profits as the trade progresses.

1. Ease of Use: Users can easily apply this strategy without manual intervention, and it ensures better trade management as each target is hit.

Implementation:

To implement this proposal, Cornix could add options under the Trailing Stop settings to:

Automatically adjust the stop-loss as each target is hit.

Allow users to specify how many targets the strategy should apply to, or provide the flexibility to set it manually for each trade.

Provide clear instructions and tooltips to guide users on how to use these features effectively.

Conclusion:

I hope this proposal is considered, as adding this feature would significantly enhance the user experience and provide a flexible and safe way to manage trades in Cornix. If you require more information or would like to discuss the proposal further, I am happy to assist.

Best regards,

I would like to suggest to add a feature of trailing stop loss should start immediately after the Order entry is fullfiled, this is to minimize the loss after the starts moving in poitive direction and before it reches to first target and the trailing should continue untill the last target. Thx