Hi Wayne,
we are talking almost of the same thing. By "trailing lock" I mean practically a trailing stop limit, with the notable difference, as you also indicate, that the stop begins *only after* a given (high) profit threshold is reached.
That's why I call it "trailing lock" because we are not actually "stopping a loss" but, somehow, locking a profit, which has already been achieved in the past time (although not immediately cashed).
As you rightly note this is a smart way to do it (and probably the only reasonable one), because by postponing the time when you "take profit" you allow the profits to run, if they like to.
Another important difference respect to a classic trailing stop limit is that, as we control it programmatically, we can allow the tolerance to grow with profit. And this is a fundamental mechanism to be able to ride trends or movements of larger timeframe.
It's like a car driving, where we start driving a 500cc engine and we end up sitting on a 10000 cc.
That's also why the more we stay in the market, the more we should get.
Let me know how those ratios work for you.
Tommaso
PS
No doubt ordinary additional stop orders are needed in any case, as you say, as a safety measure against long disconnections.
