Hotkey command to cover either LONG / SHORT position

[ryan_pdt 10]

Hi Guys,

I wanted to share a hotkey command / script I got from @Robert H that I find very useful.

Let me tell you a short story about my frustrations in covering a position. There were times that I'm in a stock just right at the open and it shoots super fast and in favor of my direction. Ofcourse your initial reaction is in shock for few milliseconds. And Instead of covering my LONG/SHORT position, I always end up adding half or full at your target. Imagine how stressful that was! So I've always been curious if there's a magic hotkey to cover either a LONG or SHORT position without worrying which side you are in. And believe or not, @Robert H has the answer! 

Not sure if some of the guys in our BBT forum has this command already but Let me share it anyways and see if we can tweak it for our favor.

ROUTE=SMRTM;Share=Pos*0.5;TIF=DAY+;SEND=REVERSE  (for half position Long/Short)

ROUTE=SMRTM;Share=Pos;TIF=DAY+;SEND=REVERSE  (for full position Long/Short)

The only issue I think with this I guess is, it's set as Market order. Meaning, you can get filled at any price (blank cheque) and this is  bad if you are trading non liquid stocks or stocks that has huge spreads. This is probably only suitable for smaller trade sizes or with liquid stocks that has tight spreads.

If someone has an idea to convert this into a LIMIT order to Hit the Ask when you're LONG and Hit the Bid when you're SHORT that would be great!

 

Hope you find this hotkey useful somehow. 

Cheers,
Ryan (ryan_pdt)

[ryan_pdt 10]

Hi,

Here's another hotkey command for STOP Market at avgcost or at breakeven whether you are Long or Short.

ROUTE=STOP;StopType=Market;Share=Pos;StopPrice=AvgCost+0.00;TIF=DAY+;SEND=REVERSE

Thanks,
Ryan

Edited June 20, 2019 by ryan_pdt