Setting up the exit of a trade

[benrange]

I'm a total beginner to using EFS. I am starting with the most basic scenario to buy a contract using the Formula Wizard. I get long if the close of the most recent period is greater than the high of the previous 10 periods. How do I set up exiting the trade if my long goes up or down 5 points? Right now the Back Testing function has me exit the trade at the current price.

[ACM]

Re: Setting up the exit of a trade

benrange
See this post in response to a similar question on setting profit and loss stops
Alex

Originally posted by benrange
I'm a total beginner to using EFS. I am starting with the most basic scenario to buy a contract using the Formula Wizard. I get long if the close of the most recent period is greater than the high of the previous 10 periods. How do I set up exiting the trade if my long goes up or down 5 points? Right now the Back Testing function has me exit the trade at the current price.