stop loss tightening when index filter turns down

   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.

Author	Message / View First Unread Post Share Topic Printable Version Delicious Digg Facebook Furl Google Boomarks Google Buzz MySpace Newsvine reddit StumbleUpon Translate Twitter Windows Live Yahoo Bookmarks Topic Search Topic Options Post Reply Create New Topic
meldeans Members Profile Send Private Message Find Members Posts Add to Buddy List Newbie Joined: 13 Feb 2009 Posts: 8	Post Options Post Reply Quote meldeans Report Post Quote Reply Topic: stop loss tightening when index filter turns down 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.