Jump to content
Travis Weirich

Hot Key calculate share - limit entry with stop loss

Recommended Posts

Good morning Team,

How would I modify the Kyle hotkey to set a limit entry order at a set price as well as set a stop loss price and have the algorithm calculate the number of shares like it does now. For example, current price is at $49.97 and I want to enter a position at $50.07 and a stop loss at $49.53.  Right now the Kyle hot key would set the stop loss at $50.07 but enter the position at a marketable limit, however, I want to set that exact limit trigger entry price to enter the position as well as set the exact stop loss price then let the hot key calculate the shares exactly as it does now.  I would appreciate anyone's feedback if you have accomplished this or Kyle would consider developing it if there is enough interest.

 

Sincerely,

Travis Weirich

Edited by Travis Weirich
error
  • Like 2

Share this post


Link to post
Share on other sites

Hey @Travis Weirich, in order to do it with Kyle's hotkey we would need to split the hotkey in two. One hotkey to record where you want the stop loss, and then one key to record where you want your entry. In order for the math to calculate how many shares you need based on your margin/risk profile, we need those two points. In the current hotkey we only need to click once, because the second point is automatically given to use by being the current price.

I have some interest myself in this... I'll have a crack and get back to you!

  • Like 1

Share this post


Link to post
Share on other sites

Justin,

Thank you, I really appreciate it. Yes, you are correct it needs two inputs: 1. the limit entry price and 2. the stop loss making it a bit more complicated than the current hotkey.

I look forward to your feedback.

Travis Weirich

Edited by Travis Weirich
grammar error
  • Like 1

Share this post


Link to post
Share on other sites

Thanks for posting this.  I have had the same question myself.  I look forward to hearing if there is a solution.

Share this post


Link to post
Share on other sites

I tried something similar... I wanted to put in a STOP LIMIT order like you mentioned (click on Price --> Hotkey --> Place STOP LIMIT at Price) with a certain percentage of my buying power (10% maybe 25%). That part is easy... the trick was to create a TRIGGER ORDER that would be placed with the STOP LIMIT order is filled. I wanted to TRIGGER ORDER to be a STOP LOSS at my AVGCOST - ($ Risk / POS).

I can't get that to work either as my variables don't seem to carry through into the TRIGGER ORDER...

Share this post


Link to post
Share on other sites

staying tuned, being guilty of premature entries on reversals 🙂

Share this post


Link to post
Share on other sites

hey everyone,

how do you guys set up a STOP range based on a percentage of the AvgCost or price?

DAS seems to expect only a price + cents but doesn't allow price * 0.98

this sounds weird to me we can't do this kind of things to generalize a stop order hotkey...

thank you for your help!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...

Important Information

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.