danielmckenna

Hi all, I'm still relatively new to day trading, I've been learning for just under a year now and enjoying it a lot. Having found my appetite is predominantly for the open I've been focued on ORBs, ABCDs etc, but find (as I'm sure many do) my success rate drops significantly when conditions are choppy. My question is, how do you guys approach trading when conditions are choppy? Any advice would be greatly appreciated.

Hi all, I'm using a hotkey at the moment to enter a trade, i double click on the chart to set a Price below the Ask (when going Long, vice versa if going Short) that i want to set as my risk. My risk at the moment is 1R/$5 and using this the hotkey calculates the number of shares i can purchase based on that risk amount. After placing my order, the hotkey then set's a limit order to exit my trade should it not go my way and i hit my -1R stop loss. My question is, does anyone know how i need to alter the script to set my stop loss at -0.5R. I still want to buy as if i'm risking $5, but exit my trade automatically if i reach -$2.50. I'm new, still in SIM, and want to test this on my trades to see if it helps reduce the number of -1R losses without impacting the number of green trades (significantly enough to outweigh the benefits of smaller losses on red trades). The script i'm using right now is: StopPrice=Price-0;DefShare=BP0.925;Price=Ask-Price;SShare=5/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price= Ask+0.05;TIF=DAY+;BUY=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.05 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Any help with the script, or also thoughts on this suggestion of setting my SL to -0.5R rather than -1R, would be greatly appreciated. Thanks.

Hi all, As per the title, how do you guys find stocks in play during the open? I'm currently focused on ORB's, and for a while had a setup with just one monitor which had my four charts on (1, 5 & 15min and Daily). This meant i needed to scan through my watchlist quickly to view setups on a chart and decide if they were right to enter or not. I've recently bought more monitors, and so now i can view 3 or 4 tickers on all four charts at once, which helps. But i'm curious how do others who trade the same strategy go about finding setups during the open?

Hi, I have hotkeys set up for entering and exiting my trades (fairly new, still only in SIM learning). I'm finding though that when i use one of the hotkeys to go long or short, i then need to manually change the 'route' dropdown box to 'Market' as it appears to automatically set itself to 'Limit', meaning if i try to exit the trade i cannot exit at the current market price. Is there a way to set this option to 'Market' automtically as part of my hotkeys (either the hotkey i use to enter a trade, or the hotkey i use to exit). I've attached examples of my 'BUY' and 'SELL 50%' hotkeys below. BUY: StopPrice=Price-0;DefShare=BP0.925;Price=Ask-Price;SShare=5/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price= Ask+0.05;TIF=DAY+;BUY=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.05 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+; SELL 50%: CXL ALLSYMB; Share=Pos*0.5;ROUTE=SMRTM;TIF=DAY+;SELL=Send;TriggerOrder=RT:STOP STOPTYPE:MARKET STOPPRICE:AvgCost PX:AVGCOST ACT:SELL QTY:POS TIF:DAY+ Thank you.

Thanks @peterB, that's fixed it.

Hi all, I'm brand new here, so go easy I've inherited some hotkey script from a friend that works fine in their DAS Trader, however for me i get an error message and i'm wondering if anyone could take a look and let me know why it might be? I've created a hotkey button in my montage that i want to set my risk and buy based on that risk amount. I.e. i want to risk $5 on AMD, i'll select a stop loss price of $0.50 below my entry price, meaning the hotkey will buy for me 10 shares and set a stop loss at $0.50 below my entry. The script i'm using is: StopPrice=Price-0;DefShare=BP0.925;Price=Ask-Price;SShare=5/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5SShare;TogSShare;ROUTE=LIMIT;Price= Ask+0.05;TIF=DAY+;BUY=Send;DefShare=200;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.05 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+; The problem i have when using the hotkey is that i seem to have the 10 shares volume entered into the 'Display' box rather than 'Shares' box, and i get the error message "Script: Invalid Share". Because this works fine on a friends DAS Trader, i suspect it's something to do with my setup of DAS, not necessarily the hotkey script itself. Has anyone experienced this before that might be able to help? Thanks.