Search the Community

I have had issues with kyle's hot key script with DAS on TD. The mouse click doesn't always configure the correct price in the montage. This can be resolved by looking at the price in the limit to see it matches the double click of the mouse of the chart. But during the middle of my trades, I might not be focused on the mechanics of the trade itself, and just the price action. This has cost me quite a bit of money. On IB with DAs, this was rarely an issue. So,, what i have done is moved away from using kyle's hot key, and created few hot buttons that buys fixed sizes with a fixed risk stop. No more mouse click on the chart, but just on the montage hot buttons. I have tested those out today, and it is working as they should. But for the low to almost zero cost to trade on TD, we'll see if it is worth it. But IB def has faster feel, and less issues. But once I have things setup with DAs, and not have the cost of brokerage fees, it should all work out. But if money is no issue(ie brokerage fee), then I would use IB without a second thought. I was avg $50 from IB fees. About 1k per month, just fyi. I am not a big trader, so 1k is quite big for my bottom line. If Bookmap had better risk control, I would go with them, but they don't.

I'm new to BBT and have been simulating Andrew's 1-min ORB strategy for 3 weeks. These are some questions popped up, can someone help? How far is price too extended from VWAP pre-market? (Do you eyeball this or use some formula?) Do you ONLY use the 1st min candle to set the range? (What if the 2nd min candle is a better setup than the 1st?) For ORB up, can the 1st candle be red instead of green as long as it ends above VWAP? Are both lower wick and long upper wick on the 1st min candle "bad" setup? Does it matter if the 1st min candle is too extended from VWAP? If so, how do you define "too extended?" How do you manage multiple trades that require your attention around 9:31? Thank you so much! nick

Thanks for writing from Australia, Martin! Beautiful country ... I spent 2 weeks there and can't wait go to back. My goal with this formula is to determine if the 1st 1-min candle is too extended from VWAP. For example, in the screenshot below, the setup for orb-up is great (gapped up, above VWAP, etc) but the 1st minute candle is a bit extended from VWAP. ATR is ~$4, and the orb ~ $0.90. I suppose it's not a perfect science, rather it's more about experience understanding all the price actions. Thank you.

Yeah without running a bunch of backtests vs my visual experience I can't say. It's 5am my time so my brains not working full speed (joys of trading from Australia) but I'm not really understanding what you've written, hypothetically lets say [$100 PDC (likely to be minimum) + $5 ATR] / [$106 as it's had a huge gap up on news - VWAP $105] so it would become $105/$1 = $105 which doesn't make sense? I assume what you're trying to say is if the stock runs it's ATR then you'd hit 5R if you didn't partial? I'm not going to say it won't work because I haven't tested it but a couple of things to think about: 1) On a gap up it'll most likely be the PDC that's the minimum. On big enough news it could've easily gapped it's ATR or like 10c away or whatever, that doesn't stop it being an ORB target so you'd have to cater for that scenario. 2) Lets say a stock like Tesla (wide ATR) gaps 0.2%, this would be most likely to pass your formula as it has a lot of room to it's ATR. However, what is going to make that a strong ORB candidate? with a small gap which potentially means people are jumping in with no strategy following the price or someone is pushing the price trying to trap people going long before flushing it. Granted it might not be on your watchlist for an ORB but just highlighting you'd need to be careful of it being biased in that type of scenario. 3) Stocks in the current market don't often ORB and run it's ATR without probably stopping you out (assuming you will move to breakeven like most traders do). 4) Targets are not necessarily an ATR, if you end up back in a value range or hitting a strong daily level it'll probably struggle to run through it quickly. I'd want to input my target into the formula based on something I pick out on pre-market. 5) While you say 5R, that's assuming you don't partial. It's not really a 5R trade as most will heavily partial on an ORB strategy, it seems like you're trying to turn a momentum based thing into a hold for an hour or two strategy. It can happen but if it runs quickly and gets extended then you get the situation of heavy profit taking and parabolic reversal traders (like me) which can end up pushing at back to VWAP and below, while it wasn't from an ORB see Tesla yesterday just before 10am as an example of a stock that moved too much too quickly and gave me a lovely short from all the trapped longs who chased it (most of those types of trades for me do come in the first 5-10 minutes from ORB style trades). Trending stocks tend to be slow grinding movements rather than momentum. Once you get it sorted try it on todays QQQ though, that was a bit extended for me from memory. Just some personal experience though as I approached trading from a formula standpoint initially (although I wouldn't have listened to me either as I back myself to accomplish anything), I'm an analyst/finance guy by trade and thought I could mathematically break everything down and take trades based on formula. My answer would give me an X probability and I'd grade the answer which means I'd put on Y size and then once I got it working I'd build a trading bot and go travel the world. I built automatic pre market decisions and levels based on daily/weekly/monthly pivots etc, highlighted confluence levels (all pulled automatically). In my practice testing I had all sorts of data recorded like wick length % and it's impact on the ORB, had probabilities based on X,Y,Z combination of criteria for different strategies. Ultimately I spent about a year on it part time, in short it didn't work, there's too much nuance to markets unless you have the size to push everyone around like hedge funds.

Ver 1.4 ## this adjust the correct number of shares, but leaves the b/e at the entry stop price, versus to b/e. Sell 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Sell 1/2 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Buy 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;Buy=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Buy 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;Buy=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+; ============================ Ver 1.5 ## this adjust the correct number of shares, places the stop @ b/e. Sell 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:AvgCost QTY:Pos TIF:DAY+; Sell 1/2 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:AvgCost QTY:Pos TIF:DAY+; Buy 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;BUY=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:BUY STOPPRICE:AvgCost QTY:Pos TIF:DAY+; Buy 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;BUY=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:BUY STOPPRICE:AvgCost QTY:Pos TIF:DAY+;

Absolutely, gaining the skills in reading the tape is the key. For now, I wrote this short ATR formula to estimate whether the 1st min candle is too extended: [Minimum (PDC, PML, LOD) + Daily ATR (14)] / [Current price - VWAP] >=5. ... It's saying that it's not too extended if at current price, I have room to reach 5R Not sure if 5R is too aggressive or too conservative.

Hey, welcome! Firstly I'll say I don't trade 1 Min ORB in the current market generally speaking. The open is quite choppy a lot of the time at the moment. However: 1) Yes eyeball/experience, it won't be the same for something $5 vs $200 for example so can't say exact amount. Different stocks move different amount even considering price range so has to be experience IMO. 2) Yes for the 1 Min ORB it's the range of the 1st minute candle, another popular strategy is the 5 min ORB which would be the first 5 min candle. That's not to say you can't develop your own 2 Min ORB, just not what is taught here. 3) Yes engulfing candles can be a strategy as you might trap some people short or ride along with people buying the dip but bear in mind it's a momentum strategy so I would record that in your testing and see how it alters your success. In this scenario I'd more likely be trading the Fallen Angel strategy (Brian) for a better entry. 4) Depending on the direction of your 1 Min ORB. On a ORB long a bottom wick is fine as this is buying from the lows (bullish) but an upper wick would be bad as there's some selling. Obviously vice versa if you are taking ORB short. 5) Yes taking too extended from VWAP makes risk:reward more challenging. Experience again I'm afraid. 6) You don't, 1 trade at that time. Experienced traders might take more later on but at the open would be asking for trouble. Martin

update 2/2/2023. Few things did not work as intended. The partial and the stop would not go to b/e, and the amount differed. I had to adjust some of the arguments from "Shares" to "Pos" to correct the Quantity remained after the partial. I also had to change the stop price variable to "AvgCost." The two versions below, one places the stop at the original stop price, and leaves it there, with the adjust number of shares after the partial. Second one does the same, but moves the stop to b/e. I also modified the limit bid and ask amount from +/- 1 to +/- 3 to get the orders filled. It was missing the fills at times, unlike IB. But for free trades, it is worth the cost for now. I am small day trader, and don't require huge orders to be filled, so TD should be fine. but lost $50 on slippage on $TSLA today, due to an order not closing. Tweaking it a big. Ver 1.4 ## this adjust the correct number of shares, but leaves the b/e at the entry stop price, versus to b/e. Sell 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Sell 1/2 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Buy 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;Buy=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+; Buy 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;Buy=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+; ============================ Ver 1.5 ## this adjust the correct number of shares, places the stop @ b/e. Sell 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:AvgCost QTY:Pos TIF:DAY+; Sell 1/2 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:AvgCost QTY:Pos TIF:DAY+; Buy 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;BUY=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:BUY STOPPRICE:AvgCost QTY:Pos TIF:DAY+; Buy 1/4 CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;BUY=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:BUY STOPPRICE:AvgCost QTY:Pos TIF:DAY+; ========== Hi, I have been tweaking my hot keys after making a move from IBKR to TD AM. As Trinity said, you have to modify the script to either limit or market. For IB, it was SMARTL or SMARTM. With TD, it does not allow partial if you have a stop b/e. I modified my scripts, so now, it will remove the stop, take partial, and then replace the stop @ b/e. Here is my working script, enjoy. =================Partial 25%=================== Clear order, sell 1/4, then stop b/e CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Share TIF:DAY+; Clear order, buy 1/4, then stop b/e CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.25;Price=Ask+.01;TIF=DAY+;BUY=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Share TIF:DAY+; =================Partial 50%=================== Clear order, sell 1/2, then stop b/e CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Bid-.01;TIF=DAY+;SELL=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Share TIF:DAY+; Clear order, buy 1/2, then stop b/e CXL ALLSYMB;ROUTE=MARKET; ROUTE=LIMIT;Share=Pos*.5;Price=Ask+.01;TIF=DAY+;BUY=Send; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Share TIF:DAY+; ========== Buy $40 StopPrice=Price-0.01;DefShare=BP*0.97;Price=Ask-Price+0.01;SShare=40/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=Limit;Price= Ask+0.02;TIF=DAY+;BUY=Send;DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.1 ACT:SELL STOPPRICE:StopPrice QTY:Share TIF:DAY+; Sell $40 StopPrice=Price+0.01;DefShare=BP*0.97;Price=Price-Bid+0.01;SShare=40/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=Limit;Price=Bid-0.02;TIF=DAY+;SELL=Send;DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.1 ACT:BUY STOPPRICE:StopPrice QTY:Share TIF:DAY+;

Yeah he losses a lot more now than he used to when I started, Andrew needs momentum and the market is a bit choppy at the minute. He tries to still trade the first 5 minutes and often losses because it's choppy but then makes it back plus more when things calm down and picks a direction. In all honestly I mute the trading room now if he's trading, it triggers my desire to trade a lot, I can't listen to the "looks like its going up", "think its topping" etc even if they don't actually take the trade it's like "go, go, go, move, trade, hurry up" in my head. The psychology element I needed to tackle was patience so I only listen if it's Thor or Jarad at the open or I listen to music. Yeah basically that's the idea, if I had my time again I would start live trading later. I jumped in because I could do it in replay but what I could really do was the market conditions at the time, I didn't really truly understand what was happening (even though I thought I did at the time). Yeah so with those two it requires a great deal of patience and potentially no trades in the day, so 9/20 being a trend continuation strategy and Mountain Pass being a trend reversal strategy. Key being you need a trend to be happening/have happened to get them and even then they don't happen 100% of the time there's a trend. It's not a bad thing if that works for you but I need something to be setting up all the time so I have strategies for different types of day. Yeah the thing I would say is this requires a lot of time and effort, I have no idea how many hours I've put in at this stage but it's a lot. If you can get the hours in consistently then things start to become clearer and clearer, I don't know how many "aha" moments I've had now. So it's difficult to put it in a forum post but I can try explaining high level. Ignoring gaps from news catalysts, fundamentally how a market moves is price and volume. Price being obvious and volume to see who's involved and what they are doing. You have the traditional candle charts and the volume at the bottom but you also can see volume profile (volume at price). Market makers and big players move markets and they do so in large volume so I want to swim along with them/avoid swimming against them, the volume tells us where they are and then we try and read the structure of the market to work out where they are going next. Market makers are after liquidity (Supply and Demand) so they will move from one high trading area to the next, building inventory and getting rid of it, testing prior liquidity zones to see whether there's any more liquidity there before they move onto the next, shaking out weak hands (false breakouts). It requires a lot of time to get the experience to understand it but it's where I feel comfortable and I keep improving at reading it. I then put trades around that view of the market. For example if we set a range and we break the edge then it's one of two things a breakout or a false breakout. On a breakout I want a retest and if it holds I'll go with that direction, if it fails the retest then I know it's probably going to the other side of the range and possibly further. I have other trades for trends (ABCD, trendlines), reversals (Parabolic, Head and Shoulders etc). Effectively no matter the market condition I have something that is potentially setting up or happening (as long as there is volume). That suits me as it gives me the patience to wait as something is always setting up and also allows me to trade without bias as I'm not reliant on a particular market type so I don't force it when it's not there. I've found this is what I need to 1) have the patience to wait for my setup and 2) hold winners longer because I have a fair idea what the failure of it looks like so I'm not anxious to take profit too quickly. Obviously that's very high level so if you want to learn more then I recommend reading Thor's book (in general Thor's teaching of the market but I personally only somewhat follow the pivots, a lot of people use them completely as it gives them structure but I've found if I make indicators the main part of my trading I put too much emphasis on them. However, if I get correlation between what they're doing and what I'm looking at then it might increase my confidence in the trade or I might use them as a profit target). Anna Coulling (A complete guide to volume price analysis), Jim Dalton's books. I traded full time for a period but when I was working in the city, it was very difficult in the summer as I just didn't have time for sleep, during COVID lockdowns it was easier as I got rid of the commute times and I could do it a night or all weekend. However, once they tried to force us to go back to the office, long story short I resigned and given what was happening at the time they allowed me to work from home while they transitioned away from me, in the end I did that full time for about a year and even now I still work part time for them (but completely on the hours I want to work to get the tasks done). I won't pretend to know about your business but I used to run my fathers business which was high value/low frequency products, I used to try do all the business stuff (ordering inventory, tidying up, accounting etc) in the morning when there's wasn't a customer then in the afternoon I would go into the office and study (to become an accountant) if a customer wasn't there, if we had two of us working on the day they would take first customer and so I'd only need to go out of the office if we had 2+ customers in at the same time or if they specifically needed me. Not sure if it's doable for your situation but it's the only experience I have that might be similar.. No I haven't day traded ASX, only thing I saw was an interview on youtube of someone who did. They were basically trading an arbitrage style trading. I just wanted to focus on one market, one platform etc till I feel my learning curve is pretty much flattened and US market just has most material and best platforms to learn.

Hey, Ok it's a pretty big topic so can't do it any real justice in a forum post but let me try give you a start. In terms of some materials, Thor touches a little in his book and is just a good book for understanding the market in general, basically a lot of the stuff he teaches here if you like his pivot style of trading. Anna Coulling book "a complete guide to volume price analysis" is also excellent for volume/price analysis in isolation. Jim Dalton also talks about the whole principal of that style of trading, those are also excellent and widely recommended here. There are a number of Youtube people who also talk about the subject a lot but a lot of the main volume profile traders on it trade futures. Korbs, Tradepro academy are some I watch and cover volume profile specifically. Also some of the interview style channels like chat with traders or B the Trader have volume profile traders on there sometimes. Basically all supply and demand is, is where are buyers buying and where are they selling (and short sellers selling and buying back). What do their positions currently look like, did they already profit take? will they step in and buy more? will it pass through their buying area and they get stopped out? It's just areas where a lot of volume has taken place recently and so will probably do so again as traders have to make decisions. In volume profile the high volume areas you'll expect choppy price action because that's where fair price has been established and buyers and sellers are happy to trade at the price so is where positions get built. Once we are done in the range bound a traverse to the next area will take place through the low volume area as it is not a fair price for buyers or sellers (on an up move too expensive for big buyers and not high enough for short sellers to step in). An upcoming low volume area will pause price and we will trade/range in a high volume area immediately prior (and either get ready for the next push or big players profit take and opposite side steps in and we'll reverse), alternatively we'll pullback to get the momentum to push through the low volume area. Given this you therefore need to have strategies about how you will trade the exit from range bound markets and avoid (or trade) false breakouts. It is also worth noting that DAS doesn't calculate volume profile correctly (and refused to fix it when I asked them). Basically they put all the volume at the close of the candle so if you're looking at a daily chart for example the entirety of the days volume is at the closing price of the day rather than where the volume was actually traded. As far is DAS is concerned I therefore look at the prior day on a 1 minute chart (as accurate as you can get DAS to be) or you need to use an alternative source such as bookmap. I will ultimately leave DAS because of it, just need to get time to deal with a new platform.

Hi @yashupl These are Camarilla Pivot Points. @Thorwho is part of the BBT team has a whole trading strategy based around these and Level 2. Thor's insights, experience and teachings on this strategy was a game changer for me as I was starting out my trading journey. If you look through the Education Center Thor has a number of lessons on price action and using the Camarilla Pivots system. You should also watch all of Thor's Thursday Mentor sessions in the Webinars section of BBT as in everyone of these you will pick-up something new to further advance your learnings. Thor has also just released his book which, in my opinion is the new go to resource on Camarilla Pivots and Level 2. It is a solid investment, and combined with his lessons and webinars on BBT will give you a great foundation to trade this strategy. https://www.amazon.com/Complete-Day-Trading-System-psychology/dp/B0BMT39CTJ/ref=sr_1_1?crid=3ANVEGYYGM8NY&keywords=thor+young+a+complete+day+trading+system&qid=1674013607&sprefix=thor+youn%2Caps%2C290&sr=8-1&ufe=app_do%3Aamzn1.fos.006c50ae-5d4c-4777-9bc0-4513d670b6bc I've really started to find an edge trading this strategy, especially in the afternoon session and the more 'saddle time' I get trading either in Sim or Live, the more it starts to 'click'. Good luck and hope this helps. TC

Just wanted to share my hotkeys with the BBT fam. These hotkeys are made for speed and built with a range order to take profit of your choosing at an R/R of your choosing. So the examples below are of a long and short with a $100 risk, a 10c stop, and sell 20% at 2:1. I'll break them down so you can edit for different amounts to your needs. The Share=100/.10; is your risk in dollar amount, so $100 in this example with a 10c stop. Change the 100 to 50 for $50 risk (or whatever you want). If you change the stop change the .1 accordingly (eg. .2 for 20c). The AvgCost2-.10 and AvgCost-.10 are your 10c stop. So if you change these to -.20 (20c stop) then also change Share=100/.2; as noted above. The :AvgCost2+.20 is the (in this case) 2:1 profit target, so 20c reward. If you make one with a 20c stop then this one could be .40 for a 40c reward. The QTY:POS*.20 and QTY:POS*.80 determines how much it sells at the profit target. In this case we are selling 20%. You could make both numbers .5 if you wanted to sell half at the profit target. Long $100 risk with 10c stop : Share=100/.10;ROUTE=LIMIT;Price=ask+.05 ;BUY=send;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:AvgCost2-.10 HighPrice:AvgCost2+.20ACT:SELL QTY:POS*.20 TIF:DAY+;TriggerOrder=RT:STOP STOPTYPE:MARKET STOPPRICE:AvgCost-.10 ACT:SELL QTY:POS*.80 TIF:DAY+ Short $100 risk with 10c stop : Share=100/.10;ROUTE=LIMIT;Price=BID-.05 ;SELL=send;TriggerOrder=RT:STOP STOPTYPE:RANGE HighPrice:AvgCost2+.10 LowPrice:AvgCost2-.20ACT:BUY QTY:POS*.20 TIF:DAY+;TriggerOrder=RT:STOP STOPTYPE:MARKET STOPPRICE:AvgCost+.10 ACT:BUY QTY:POS*.80 TIF:DAY+ Enjoy P.S. If you're just looking to double-click on the chart and have a fixed risk entry with a stop and a target, look for the 1:2 Risk:Reward Hot Key Scripts found here: Most frequently used hotkeys - DAS Trader Pro Tips and Tricks - Bear Bull Traders Forums

Heh Miah!, Thanks for sharing these hotkeys I've just been trying these Hotkeys out today and they're great for my strategy! Just noticed that the Short Script wasn't working so I've had a play around and I think I've managed to get something that works Short 10c: Share=100/.1;ROUTE=LIMIT;Price=bid-.05 ;SELL=send;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:AvgCost2-.2HighPrice:AvgCost2+0.1ACT:BUY QTY:POS*.50 TIF:DAY+;TriggerOrder=RT:STOP STOPTYPE:MARKET STOPPRICE:AvgCost+.50 ACT:BUY QTY:POS*.50 TIF:DAY+ I hope that helps, Alex, UK.

there are plenty of strategies that does not use L2 and relies on market profiles, patterns, trend lines, levels, moving average configuration, engulfing pattern, divergences, price action on multiple time frames, and other combinations of market internals.

Happy Holidays! Instead of clicking on the chart to get a stoploss price, can you help advise a hotkey to buy or sell with a 20 cents stoploss relatively to the entry price? The fixed $risk amount will be $20/entry, and ideal targets would be 50%position at 3R and all out at 5R. Thank you so much for your help.

I use the default study and shows the ATR (average) for the last 14 days on daily, on 2 min chart will be the last 14 candles. On daily when the ATR is pointing up means stock is trending, expanding the range. When flat, not much activity so I am not expecting outsized days. If you want to see the ATR of the previous candle you can change it to 1 in the study and it will show you the value in $ for only this candle. If you want to include last 30 candles for example, you change it to 30 in the study. The shorter you make it, the more difficult to read it as gives lots of signals. You can also see the spikes in the ATR line on the shorter TF if you plot it on you chart (the volume section), which you will read as increased volatility and you anticipate breakout or near reversal point based on the price action, volume candles, where is the stock on the longer TF. I don't use it this way, but it is another way to look at ATR and use it in your analysis. The easiest way is to use the daily ATR and % of the daily ATR for a SL. In some stocks like $TSLA your SL could be 1$ and in not so volatile stocks could be 0.05$. It always reflects the volatility in the stock, if trending ATR will be increasing so is your SL. That's particularly useful at the open not to be stopped out all the time and later in the session to capitalize on tighter stops and better R: R. I also keep wider stops for wicky stocks like $ABNB, $COIN for example.

I am having trouble getting the hotkey to work. It keeps saying can't get valid price. It puts a number in the montage that isn't rounded to the nearest 2 digit cents. Is that problem? I've tried putting price=round2 in the formula but still can't get it to work. Any ideas?

Hello, i've got a strange problem with this hotkey: Cover % of Your Position Placing a New Stop Loss at Break Even Note: The text in red is the percentage of your position being covered. The script user can change it to any amount they like. In this example it is set to 50%. Also, understand that the stop is a market order and price slippage may occur. CXL ALLSYMB;ROUTE=LIMIT;Price=ASK+0.05;Price=Round2;Share=Pos*.5;TIF=DAY+;BUY=Send;ROUTE=STOP;StopType=Market;StopPrice=AvgCost;Share=Pos+share;TIF=GTC;BUY=SEND When i take my first partial lets say 50%, the stop goes to break even but it ads 50% to the amount it will cover so i shorted 100 shares, i take 1 partial > the stop hits my break even and now im suddenly long 50 shares. It does that only on my first partial. the second partial it will take 50% of the shares off.. so i go from 100 > 150 > 75> 37 and so on. the long version of this hotkey works perfectly fine for me. ive been struggling with this for a while now, hopefully someone knows the solution. thnx!

I did have a request for a version of this script that entered the trade and made a single order at 1R for 12.5% of position and the remainder at 3R. This is what I came up with (Long version based on BP only) CXL ALLSYMB; StopPrice=Price-0.01;DefShare=BP*0.5;Share=DefShare*0.333*Price*0.01;Price=Ask-Price+0.01;SShare=Share/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;Share=Share/8;Share=Share*8;TogSShare;ROUTE=SMRTL;Price= Ask+0.05;TIF=DAY+;BUY=Send;DefShare=1000;Price=Ask-StopPrice+Ask;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:StopPrice HighPrice:Price ACT:SELL QTY:POS*.125 TIF:DAY+;Price=Ask-StopPrice*3+Ask;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:StopPrice HighPrice:Price ACT:SELL QTY:POS*.875 TIF:DAY+;

I would love to hear from Paras and see what he thinks. When I first made the post I had only seen them on AMZN, but since then I see them on just about every ticker I trade (blue chips) and on nearly every day. I agree all data is important, but the effect these orders have on the tape is really terrible. They will run in a constant stream like that for minutes at a time and all at the exact same price, and so if price is trading near to this price you get the effect Martin is talking about, and the tape will flash back and forth from above ask to below bid and it makes it impossible to tell what is actually happening. If I pause my recorded I would love to find a solution that doesn't eliminate data, but the removal of single shares has a minimal effect relative to the negatives that these orders bring. Also, these orders do show up in sim as well, so if anyone wants to see them these day's for sure have them: 8/22 -AMZN, 8/24 and 8/25 -NVDA, 10/25 -TSLA. Just watch the first 2-3 minutes on any day and you'll see them. +Here is a clip of TSLA on 10/25, the orders don't stop until 9:32:16. (Please excuse the video quality) TSLA 10-25 -Short clip.mp4

Specifically 1 share dark pool orders? The tape gives a story about what's going to happen but having watched AMZN do this before that's not what was happening, there were thousands of 1 share orders went through at that price for several minutes. As the price traversed up and down through it the orders went from above the ask to below the ask over and over, in other words just noise. Given the amount of shares that the market trades I'm not sure anyone can convince me that filtering out 1 share trades is bad. Like Thor I run 3 tapes that filter different size trades, I've actually been experimenting with removing FADF from my smaller 2 tapes (retail size). Given the size that participates in dark pools it doesn't feel like I should be bothered with 100 shares on it, doesn't feel like their true intentions. I keep missing Thor's mentorship live but have been meaning to ask him about it next time I make it, will try do it this week.

I'm going to update this in case someone else sees these orders in the future and finds this post looking for answers. For anyone who trades the opening 5 minutes, these orders are a huge pain. They completely obscure the tape at times, and are sometimes multiple points away from the last trade price. After a very long and completely unhelpful exchange with a very unfriendly DAS support rep, I finally know what these are (I think). They are real orders that are being reported at the time they come through the tape, and by turning "exchange" on in the T/S settings you can see that all these orders were routed through FADF which is a apparently any one of a number of dark pools. So this is why they are coming in way outside of the spread, they were likely executed seconds or minutes earlier, and are only being reported at the time you see them on the tape. The solution to getting rid of them, so they don't ruin your ability to judge order flow, is to set T/S settings to only display transactions greater than one share.

So I found that you can use this hotkey to cover say 25% of the position: Route=LIMIT; Share=Pos*.25; Price=Bid-.05; NoRR=N; TIF=DAY; SELL=Send That works fine. but then if you use it again it covers 25 % of the postion you now currently hold after covering 25%. You hit it again and now it covers 25% of the existing postion and so on. How can you make a key where your original position was 100 shares. You cover 25% (25 shares) putting you at 75 shares. and then you hit the hotkey again and cover 25 shares leaving you at 50 shares, and then again 25 shares leaving at 25, and then again closed? This is what you would want. As it stands you cover 25 shares of 100 then have 75 share position. Then you cover 25% and then you are covering 18.75 shares, then have 56.25, then cover 25% and have 42.2 shares and so on. Is there a solution to this? Thanks all. Mike

Hi best people in the world! Want to share a tip that I found today. Basically you take Time/Sale and remove Price, Qty and everything else, except time. Move it closed to your Market Clock and you're done. Now you have quick check up whether DAS is lagging or not. Shout out to @Thor for showing how to use it in time/sale.