For the Step By Step Training Course for The Trail Stop Trigger CLICK HERE
What is the Trail Stop Trigger?
The Trailing Stop Trigger allows you to trail your currently open Nadex Binary or Spread orders on the Apex scanners. Meaning, you'll be able to lock in your profits and limit your losses. It is very simple to use, but there are some caveats and slight differences in how they work on Spreads, versus binaries, so let's cover that, after some useful descriptions of the fields.
These field names vary slightly, depending if you're trying to trail a binary contract or a spread, but their purpose is exactly the same in both, it's just the input values that are slightly different, (described in the next section).
Stop trigger: Can be left blank. This is your worst case scenario stop loss. This value will dynamically change as the price of bid / offer changes. If the Trailing trigger value is left blank, this field will be ignored and trailing will begin immediately.
Take profit trigger: Can be left blank. Put the dollar amount in here that you would like to take profit at. When the bid / offer hits this dollar value, your order will be executed. Note that you are not guaranteed to get this dollar value, this only triggers a sell or buy of the contract once this value is available; you could get filled at a better or worse price.
Trailing trigger: Can be left blank. Set this field to a value that you want to start beginning your trail at, i.e., if you want to wait to trail until you are 20 dollars in profit and you originally bought a binary contract for 30, you would set this to 50 dollars, and the trail will not begin until the Bid reaches 50 dollars. On spreads the value here is based off the Nadex indicative, so you'll need to put the indicative price that you want to begin your trail at.
Trailing offset: REQUIRED! this is the only trailing option that must be filled in. Defaulted to $10.00 on binary contracts and 25 underlying ticks on spreads. This is the distance you want to trail your contract by.
Differences in Spreads versus Binaries
Binary options trail by the US Dollar value of the binary. All of the above mentioned fields, (Stop trigger, Take profit trigger, Trailing trigger, and Trailing offset) accept only valid USD values. Since each binary contract is worth 0 or 100 dollars at expiration, and will never be worth more or less than that, the valid values each field accepts is between 0 and 100, in increments of $0.25. If you input a value that is not in this increment, it will round to the nearest quarter.
For Binaries only, the previous dollar values put into the fields will be remembered. We did this so people can quickly make the same types of trades over and over without making many adjustments. For this reason, we added a "Clear" button at the bottom of the trailing fields.
Spreads trail by the Nadex indicative price instead of dollar values like binaries. If you look at the bid and offer of a Nadex ticket, you'll see why we decided on this, as it makes the most sense. The bids and offers for spreads are the Nadex indicative, and are dollar values for binaries.
Inputting values of the Nadex indicative is much more in the way of how a normal Stop Trigger works on our scanner. Everything there is based off the Nadex indicative. This is true for all the fields available except the offset.
The Trailing offset is the number of underlying ticks that you want to trail the ticket by. Because of the way Nadex creates their indicative pricing for each instrument, some are slightly different than others, so to remove this confusion on what each indicative ticks in, we just made them match what your NinjaTrader chart will show. If you want to trail by 25 ticks, regardless of what the instrument may tick in, (dimes, pennies, quarters, integers) you just have to put 25 in that field. Less thinking, more trading.
Everything else works exactly the same.
When you click the Trail Stop Trigger option on the ticket from our scanner, you'll notice that only the trailing options pop out to the right side, all the other values work exactly the same. Certain fields are set up as "trigger conditions", i.e. at what point is the ticket considered triggered and you want to initiate a buy or sell, and the others are still, after it's triggered, what do you want to submit, i.e. how many orders, how far away from the market are you willing to submit the ticket for, etc.
The point of this article is not to explain the "How everything else works" part though. For that education, go here:
How do you get it?
You may already have it. If you don't, make sure you have the latest version of the plugin installed from the Chrome store.
If it's not appearing on your ticket at all, your plugin has not been updated to the most recent one. You can try manually updating your extensions in your browser, (chrome://extensions/) by clicking the "Update extensions now" button. If that doesn't work, you can delete the plugin from Chrome, and reinstall it from the link above.
If it is showing on your ticket, but it's got a line running through the text and you can't click on it, then you are trying to trail a contract that doesn't currently exist. Remember, the trailing options are only for current open orders you have placed on Nadex. You can't trail a trade that you're not in.
Turn it on and off again. When in doubt, before contacting support, you should ALWAYS try clearing your cookies and cache in Chrome: https://forum.apexinvesting.com/t/how-do-i-clear-the-cookies-and-cache-in-my-browser/2808
Worst case scenario, you may need to reboot your computer. When contacting support, this will Always be our first line of defense, because 99 times out of 100, this will resolve the issue! Computers are fickle things and just because they are programmed to behave a certain way, doesn't mean that they always will. Much like humans, sometimes they just need a break. A reset to a computer is like a good nights' sleep and a pot of coffee!
Often times, people fib to us and tell us that they have already done this step, because they don't want to have to log back into all their websites. All this does is draw out your resolution longer. It frustrates the support staff and more importantly it frustrates you because you just want it working now. Eventually, after trying everything in the book, we get the client to clear their cookies and cache, then lo and behold it starts working again. So save yourself the hassle of writing up a ticket, the time wasted in contacting support and waiting for them to tell you to do this.
If you've cleared your cookies and cache, logged back into everything, rebooted your machine and it's still not working, then please contact us so we can investigate your issue and get you up and running as soon as possible. You may submit a new helpdesk ticket using this link: