DAS - Stop Limit Order for Future Entry with Dynamic Share Calculation - Using $Risk with a Stop Loss

[evan 17]

On 2/2/2021 at 4:14 PM, Justin said:

This will show on the chart (below) as a range order, as the hotkey is set to do a 5 cent range (Price=Price+.05) - you can change this to whatever you're comfortable with.

Could I have this trigger a market order instead of a range?  In other words, one the selected price is hit, I'm fine getting in at any price.

[Justin 264]

12 minutes ago, evan said:

Could I have this trigger a market order instead of a range?  In other words, one the selected price is hit, I'm fine getting in at any price.

Long

DefShare=BP*0.97;Price=Price-StopPrice;SShare=20/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare; SShare=Share;Share=Price*100; Price=StopPrice; DefShare=Price*100; Price=Share/100; Price=Price+StopPrice; StopPrice=Price; Share=SShare; TogSShare; Price=Price;TIF=DAY+;Route=Stop;StopType=Market; Buy=Send; Share=DefShare;Price=Share/100; StopPrice=Price; DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+;

 

Short

DefShare=BP*0.95;Price=StopPrice-Price;SShare=30/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare; SShare=Share;Share=Price*100; Price=StopPrice; DefShare=Price*100; Price=Share/100; Price=StopPrice-Price; StopPrice=Price; Share=SShare; TogSShare; Price=Price;TIF=DAY+;Route=Stop;StopType=Market; Sell=Send; Share=DefShare;Price=Share/100; StopPrice=Price; DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+;

 

[Alxander 0]

Hi Justin,

This is something i've been looking for.

how will this script look for long/short without the calculated risk% but with manually set stop loss?

and how will it look like if its for marked order and limit - short/long.

I'm not at the level that i can reverse engineer the ones you have provided, sorry!

Edited March 11, 2021 by Alxander

[Justin 264]

1 hour ago, Alxander said:

how will this script look for long/short without the calculated risk% but with manually set stop loss?

Like, you just want to set an order in the future to go long for a fixed $, but the stop is a fixed amount... like 20c?

[Alxander 0]

** Changed it myself - Justin and Kyle, this Script is amazing!! this is something you should learn people to use, this is also great for risk management when you want to catch a break out! 

ten out of ten! 

 

Sorry Justin, my head is a little slow these days due to the flu. Ignore my first post.

Is it possible to change the script to buy a fixed amount of 100 shares?

the stop loss is perfect as it is !

My head is just better at handling fixed shares and when i get better i can change the number as i grow as a trader 

Edited March 12, 2021 by Alxander

[jeremy.o 0]

Hi Justin,

Great work, I am testing this out myself and I prefer trailing stops instead of a limit stop.

Will it be possible to help me adjust the code to a trailing stop?

[justinstrommer9 18]

I just started using this and running into an issue. It works in my simulator perfectly, but when I switch to my live account it does not work.  I set the stop and then the second hotkey is not sending an order.  Any idea why this would be happening?   Do i need to add anything to the hotkey script for it to work in live?

[justinstrommer9 18]

My broker is interactive brokers.  I am using the same exact hotkey script in this post.  I have it set to CTRL+1 and CTRL+2 to execute the stop and entry hotkeys.   It works perfect in papertrade mode, but no entry hotkey does not respond when live. 

[justinstrommer9 18]

this is the LONG ENTRY HOTKEY:

DefShare=BP*0.97;Price=Price-StopPrice;SShare=20/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare; SShare=Share;Share=Price*100; Price=StopPrice; DefShare=Price*100; Price=Share/100; Price=Price+StopPrice; StopPrice=Price; Share=SShare; TogSShare; Price=Price+.05;TIF=DAY+;Route=Stop;StopType=Limit; Buy=Send; Share=DefShare;Price=Share/100; StopPrice=Price; DefShare=400;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+;

•  

[justinstrommer9 18]

I changed Route=Stop to Route=SMRTL.  This did not work.  It made me immediately enter the trade at the current price, instead of entering at the entry target I selected. 

[Justin 264]

9 hours ago, peterB said:

you need to have Route=SMRTL for Interactive brokers

No, not for stop orders @peterB.

@justinstrommer9 It's either a syntax error from when you copied it into DAS or you're not executing the script properly.

If you could outline a real example and step by step of exactly what you're doing that would be helpful. Like down to the detail. "I double click on the chart at x price, then hit the first hotkey. Then I double click on the chart at y price and hit the second hotkey."

[justinstrommer9 18]

Hey guys thank you so much for the help. I’m not sure what happened before but I was able to use it correctly with the original script on Friday. Seems to be working fine now. Not sure what went wrong before.  I’m going to use this a lot or make trades as I prefer to get in on a break of a candle vs just jumping in. 

[ivo1969 0]

I tried looking at the script , what would i have to change to setup a script for a 50 , or 100 dollar risk ?

Any help woudl be appreciated

[Justin 264]

12 minutes ago, ivo1969 said:

I tried looking at the script , what would i have to change to setup a script for a 50 , or 100 dollar risk ?

Any help woudl be appreciated

SShare=20/Price;

That number denotes the risk. It's set to $20 currently.

Edited April 2, 2021 by Justin

[ivo1969 0]

Thank you Justin , I cant believe I missed  that , must have been looking further down in the script