Getting a precise entry with proper Risk Sizing is only half the battle. Managing your open trade while trying to maximize profits is what sets great traders apart from okay traders. It’s a complex task to constantly monitor your open trades and search other markets for additional opportunities. R3 Trader has introduced RVR Schedules to simplify this complexity.
RVR – Reward vs. Risk Schedules allow you to concisely set how you modify your stops as you gain profit in a trade. Reward vs. Risk is simply defined as the reward you expect for the risk you are willing. Ex: If your stop loss is 5 ticks/pips and you expect a profit of 20 ticks that would be considered a 4:1 RVR.
Expectancy plays a big part in each of our trading styles and strategies. Some entries will yield a quick return of only a 1:1 RVR, other entries have the ability to run upwards of 10:1 RVR or more. Doesn’t it make sense to have a system that properly monitors and changes your stops as you hit higher RVR Levels dependent upon the type of conditions you are trading? R3 Trader, through RVR Schedules gives you the ability to do just that. Specify how you want your stops to be modified at any RVR Level and with unlimited combinations.
Whether you want to have two RVR Levels in a schedule or fifty RVR Levels in a schedule, R3 Trader allows for customization based on your expectancy. Below are the different types of RVR stop combinations R3 Trader allows you to use to maximize your profits on each trade!
Trail |
A traditional Trailing Stop where you can specify the amount of movement in price with a specific amount of movement in the stop loss. |
Bar Trail |
The Bar Trailing Stop takes into account the highs and lows of the previous bars. You can specify how many bars ago you want the stop to be placed as well as an offset. As new bars are displayed on the chart your stop will trail. |
ATR Trail |
ATR was developed by J. Welles Wilder and is a type of measurement in volatility. The ATR Trailing Stop uses the value of the ATR based on the specified period and multiplier. Your trade is trailed based on volatility. |
% Retracement |
A trailing stop designed to calculate your stop loss based on the maximum amount of profit one is willing to risk. Ex: Once you have hit 10 ticks of profit and you are only willing to give up 3 ticks, your % Retracement Stop would be 30%. As your profit increases this stop trails. |
Breakeven |
Once you have hit a specified RVR Level you can set your stop to come to the breakeven point plus an offset you desire. This is a great stop for covering your position in the event the market turn against you. |
Time |
The Time Stop feature can be used in combination with the Trail Stop, Bar Trail Stop, ATR Trail Stop, % Retracement Trail Stop or all by itself. This gives you the ability to set a specific time with the number of hours, minutes, and seconds you want the trade to expire and exit. The Time Stop works with the RVR Level framework meaning if you have a Time Stop in your first RVR Level, once the second RVR Level is hit the Time Stop would readjust to what is specified for the second RVR Level or would cease if there was not a new one specified. We also offer a Global Time Stop which can be reviewed on our "Features" page. The Global Time Stop exits all active and resting trade orders based on a specific time of day. Ex. Market close or whenever you desire. |