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stop loss tightening when index filter turns down

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meldeans View Drop Down
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Joined: 13 Feb 2009
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    Posted: 12 Feb 2015 at 9:34am
Hi,

I was wondering if someone could help with a stop loss that tightens up when the market index filter turns against you.

I use the Simple Weekly Stop Loss set from high at say 30% when I buy a stock.  I only buy if the XAO is trading above its say 20 week EMA.  If the XAO falls below XAO 20 week EMA then I want the stop loss to move to say 10% from most recent high for any positions currently in the market.  I want the stop loss to stay at 10% until the XAO > 20 week EMA again AND the stop loss is to stay at 10% until the 30% stop loss catches up when the XAO > 20 week EMA.

Hope this makes sense.

I currently have two stop losses on my chart - one 30% from high and another 10% if XAO < 20 wk EMA.  I find this quite confusing but don't know how to link the XAO to a stop loss.

Really appreciate anyones help.
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