You can definitely do a 2:1 range order in the same "part-2" hotkey, but it would be a full exit at the stop loss and 2R.
There is an alternative... But it's not great.
In a 3rd hotkey (after you've entered a position), you can have it recalculate your position and place multiple range orders down at different price levels. Have a look below - one hotkey takes your full position (118 shares) and splits it between 5 range orders at 1R-5R. It's hard to see (as they are stacked on each other) but all 118 shares should stop out at the same price of 123.48.
Now I said "should"; here is the real problem with the script (also the main reason it's not released). Because your stop is actually 5 separate orders, in more volatile stocks you can have some bad slippage. It also can increase your commissions a bit (mainly on smaller positions).
I know Kyle has been working with DAS, I've been working with DAS.... If they simple can provide us with a few more variables, this stuff would be easy.
Hi @Justin, Could you please share the scripts for multiple stop orders once hit the entry. So the purpose of the script to generate a logic like,
For a long position,
If the profit hit: take partial, If the stop hit: sell all the position, Is this possible using your script? Really appropriate your input.
We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.
DAS - Stop Limit Order for Future Entry with Dynamic Share Calculation - Using $Risk with a Stop Loss
in DAS Trader Pro Tips and Tricks
Posted
Hi @Justin, Could you please share the scripts for multiple stop orders once hit the entry. So the purpose of the script to generate a logic like,
For a long position,
If the profit hit: take partial, If the stop hit: sell all the position, Is this possible using your script? Really appropriate your input.