Say I am Long 3 contracts. I want to break apart my 3 trailing stops. As the market advances I can move my individual stops to different levels of support and resistance. This gives me a lot of staying power because if one stop gets me knocked out of the market I still have 2 additional ones play. Question: Can I break apart my multiple trailing Stops?
We can not comment specifically on the merits of your systems, as we are not clear about the “staying power” as placing a stop on all positions will get you out. However, as far as your question about multiple trailing stops, yes, this could be done. You can apply a different trailing stop-loss to each order that you placed. If you need to see the illustration on a specific futures trading software, let us know. We would be glad to show it.
The placement of contingent orders by you or broker, or trading advisor, such as a “stop-loss” or “stop-limit” order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.