Any ideas on how to close an open position if it falls below a certain amount or percent of the entry point.

For example, if the trade was opened long at $20, how can I close the position when a subsequent close falls below 20.

 

Thanks

KevStock:
Track down article on Latches by Roy Larsen (mgr of this group). What you need is a variant of Example 7 to give you your signal.
Michael