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Robert H

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Posts posted by Robert H

  4. Posted

    Marketable limit orders are market orders since we hit the bid/ask. Don't let the name fool you. 

    SMRTL is just IB's proprietary routing. Not sure what route is used when left blank. Probably the route listed in your montage dropdown under ROUTE.

  5. Posted

    Since your hotkeys use BP %, default Share won't affect you. 

    AON means 'All or None.' This means you intend to get the order filled completely and no partial. You rather have the order skipped when it can't be filled entirely.

    ANY means you don't care if the whole order is filled and partial is OK. I use ANY.

    Route should be SMRTL if you're with IB. Not sure what the other brokers default route is.

    • Like 3

  6. Posted

    5 hours ago, Fernando Samora said:

    Jumping on this post to ask a couple of questions.

    If i select on the default setting my account will my montage(s) reflect the account I selected there? If I read everything correctly, by leaving the account part  blank in montage I will be trading on the account selected on the default order template, correct?

    Ill share a screenshot when i´m back home. 

    There are 3 options in the Global Order Templates: Sim, Live, Blank

    Whichever you select in the Global Default will be the default in your Montage (as long as that Montage has "Use Global Default" checked).

    • Like 1

  7. Posted

    @KyleK29 I am amazed by how much effort you've put into this solution. Thank you on behalf of the entire Bear Bull Traders Team!

    Would it be possible to automatically send a STOP MARKET order along with the buy/sell execution? The following script only sends a STOP with some arbitrary price relative to Average Cost:

    Share=Pos;ROUTE=STOP;StopType=Market;StopPrice=AvgCost-0.10;TIF=DAY+;SELL=SEND

    How cool would it be to double-click your stop level, automatically calculate share size, send the order, and send a stop order with the press of one hotkey. Thanks!

    • Like 3
    • Thanks 1

  10. Posted

    Here's my buy hotkey for reference: ROUTE=SMRTL;Price=Ask+0.05;TIF=DAY+;BUY=Send

    It really depends on the volume, liquidity, and volatility of the stock. Sometimes I get filled right at the ASK, sometimes there is a few cents slippage.

  11. Posted

    On 10/19/2018 at 11:57 AM, Seamus said:

    Robert.

    Thank you for the explanation. I do notice in my training Sim the ECN charge is at the $.003 per share cost. Of course, I'm trading very heavy at this point in the learning process however, I notice your screen shot has zero dollars in the ECN cell. Quick read of your link speaks of creating liquidity (credit) and not creating liquidity (debit). I have been following the advice from the group about bidding into a trade with the +/- $.05 idea for immediate entrance. Am I understanding correctly this would be defined as not creating liqudity and thus, charged $.003 fee per share at some point when I go live? If so, and assuming the screen shot provide is yours, how do you go about entry to avoid such a fee?

    Much appreciated.

    seamus

    Hi Seamus,

    I'm not sure why my screenshot has no ECN fees listed. I use the +/- 0.05 hotkeys as well. Those by definition remove liquidity (hitting the bid/ask) and are subject to ECN fees.

    I'm with Interactive Brokers and my per share commission is 0.0035. Total per share after fees (SEC+FINRA+ECN) are about 0.005, so I assume those work out to 0.0015 per share. I believe people with CMEG are paying slightly more than that for ECN.

    • Thanks 1

  12. Posted

    3 hours ago, tardi44 said:

    Hello, Is DAS really faster than IB TWS?

    As a beginner i'm using TWS but most of my trades are filled few ticks up than the price is when I press the hot button.

    For exemple, bid/ask price is 49.98/50.00 and my buy hot button is LMT ask + 0.05 (like Andrew), my order will be fill at 50.00 + 0.03 = 50.03 (or 50.05) which make a big difference on quick trades like Andrew does.

    Do you guys have notice that ?

    Are you in simulator? I found that you will normally get filled at the extremes of your hotkey +/- tolerance. This leads to worst case scenario fills compared to real life execution. @PeterD noticed the same thing.

  14. Posted

    On 9/19/2018 at 9:59 AM, Fernando Samora said:

    Hey guys, Im opening an account with CMEG (to avoid PDT while increasing my account) my question is: does anyone know if i can transfer curent positions from IB to CMEG? They are in ETF´s. 

    Try asking IB/CMEG support for a definitive answer. I know that my Canadian broker allows transfer of securities, but this is in Canada.

  22. Posted

    A better example is taking 1,000 shares with a $25k account. Since your buying power is typically 4:1, you can take a position up to $100k using leverage.

    1% of your account is $250. This means 0.25/share on 1,000 shares.

    The important part is to find a stop loss at a technical level, and figure out the per-share loss. This will determine the maximum share size you can take. Stop loss first, share size after.

    Using the same numbers above, a 0.50 stop loss would mean taking 500 shares. And so on and so forth.

    The 1% rule is a maximum. You can always risk less, but never more.

    When I traded 100 share lots, I pretended that my account was $2,500. All risk management and daily goal/loss calculations were based off $2,500 and not the full size.

    • Like 1
    • Thanks 1
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