When trading long-term trend following systems, as many on here already do, because of the wideness of the stop to allow for the big winners, the trade-off is often giving back alot of open profit at the end of the trend (open equity drawdown).
One way to perhaps overcome (?) this is to have a profit stop. Using tradeSim i can set a profit stop eg. exit after 20/50/100% profit is reached.
What I think may work better is a profit stop where only a percentage of the position was sold to lock in profit, but the remainder left to ride and will be exited when the trailing stop is hit.
So Exit X% of the position after Y% profit has been reached?
What do others think of this idea? I think its at least worth testing.
TradeSim manual makes it clear how to set Profit Targets, but how to set up to sell only an X% of the position is beyond me.
Any help here with the coding would be much appreciated.