How to automatically adjust stop loss to number of shares

[How to automatically adjust stop loss to number of shares]

Thanks @peterB You're absolutely right for scaling out.

What about scaling in? would this (setting price to initial stop) make sense to avoid being stopped too early, or are there a better approach?

[How to automatically adjust stop loss to number of shares]

Thanks @Justin So if I understand correctly, the StopPrice variable is saved from the initial order where we set it to Price. Then, as we scale, we are cancelling the current stop order and replacing it with one, using the same stop price at the updated position size, right? I will try it in my SIM. 

[How to automatically adjust stop loss to number of shares]

@Justin Thank you for your response. I am looking to dynamically update the size of stop as I scale without changing the Price. It is a separate process at the moment, which works well through updating the order. It would be nice to have though to be able to dynamically update the size. I am aware of the above and I will consider how it fits in my playbook. Thanks again!

[How to automatically adjust stop loss to number of shares]

@KyleK29 Thanks for the great work you have done! Are there any updates on this DAS features?

[Introduce Yourself!]

Hey BBT Community,

My name is Jad from Vancouver and I am a new to day trading . I am a 36yrs technology professional and entrepreneur. The approach of Andrew resonated a lot with me, so I decided to join the community to learn and eventually contribute. I am currently on simulator and working on fine-tuning my setup and building my knowledge. This is above all a personal challenge for me as I have experienced the psychology behind it and the skills it requires. I look forward to engaging with you and meet up soon!

Jad