Autopilot
Automated Trading
Trailing Stop Feature
The first radio button labeled "No Trailing Stop," means that Track 'n Trade will not advance the stop loss order beyond its 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 of the market, Track 'n Trade would also advance the trailing stop, maintaining 10 points, or pips back from the highest, or lowest price level achieved. If the market then falls back within 10 points or pips, to say 8 points or pips, 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 PSAR, or Parabolic SAR, which stands for Stop & Reverse, the second is the Bulls 'n Bears Blue Light System, and the third is the ATR or Average True Range. All three stop loss order systems work on the same basic principle, 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, and are automatically calculated from within the Bulls 'n Bears system; whereas the PSAR 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 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 five price bars back, yet five price bars back is actually closer to the market than the initial point of the PSAR, Track 'n Trade will place the stop order five price bars back, then wait to begin trailing the stop loss order until the PSAR stop price point has surpassed the initial five bar back level. This will be the same behavior for all three mathematically calculated stop systems.