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

[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 253]

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 253]

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

[koreanwon97 0]

I can't seem to use the hotkey for some reason. I keep getting "ERROR: Can't get valid price!"

 

Edit: The hotkey only works for shorting, when I try to use the long hotkey it does not work at all. I copied the hotkey exactly as I saw it so I'm a bit confused on that...If there's a fix for that, please let me know. Also, when I try to use my cover or sell hotkeys, it does not work. It brings up this in the picture and I did manage to find a solution which was going into my montage and changing the type of order from "limit" to "market" and it worked. If there's another way to fix it without doing that, please let me know. I'm trying this in replay by the way.

Edited April 14, 2021 by koreanwon97

[Justin 253]

16 hours ago, koreanwon97 said:

I can't seem to use the hotkey for some reason. I keep getting "ERROR: Can't get valid price!"

 

Edit: The hotkey only works for shorting, when I try to use the long hotkey it does not work at all. I copied the hotkey exactly as I saw it so I'm a bit confused on that...If there's a fix for that, please let me know. Also, when I try to use my cover or sell hotkeys, it does not work. It brings up this in the picture and I did manage to find a solution which was going into my montage and changing the type of order from "limit" to "market" and it worked. If there's another way to fix it without doing that, please let me know. I'm trying this in replay by the way.

This hotkey doesn't work in replay mode. You'll need to test it out in SIM when the market is open.

[tamago168 0]

Hi Justin & Kyle,

This script is very awesome!

Can you please provide the script for the flip side (i.e., Short situation)?  Thanks

Henry

 

[Justin 253]

3 minutes ago, tamago168 said:

Hi Justin & Kyle,

This script is very awesome!

Can you please provide the script for the flip side (i.e., Short situation)?  Thanks

Henry

 

It's already there in the first post

[tamago168 0]

Sorry, I overlooked it.  Thanks a lot!

[tamago168 0]

Hi Justin,

I think you were looking for a solution for Part 2 of the script to send 2 separate range orders.  I'm looking for a similar solution like below.

When my Buy Stop/Sell Stop is triggered and filled, 2 separate range orders are created.  The first one is 60% of shares with 1R target and the second one is 40% with 2R target.  Both of them have the same original stop loss.

That'll be very helpful if a script exists for this case.

 

[peterB 291]

https://forums.bearbulltraders.com/topic/716-das-dynamically-calculate-shares-on-risk-or-risk-hot-key-configuration-updated-91019-v21/?do=findComment&comment=21951

[tamago168 0]

Peter,

I posted the same question under that topic, too.  I saw you responded over there as well.  It seems that currently there's no one key to accomplish this.  So, the workaround for now is to send 60% at 1R, and manually send another 40% at 2Rs.  Thank you for your time.

[tamago168 0]

I'm using the following script to short sell at the bid with $25 (1R) risk and covers 60% at 1R target with one key:

CXL ALLSYMB;StopPrice=Price+0;DefShare=BP*0.925;Price=Price-Bid+0.00;SShare=25/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price=Bid-0.05;TIF=DAY+;SELL=Send;DefShare=100;Price=StopPrice-Bid*1;Price=Bid-Price;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:Price HighPrice:StopPrice ACT:BUY QTY:POS*.6 TIF:DAY+

Based on the above script, I think, hopefully, we can modify the syntax of Part 2 (reproduced below) to create a range order (High = Stop Loss and Low = Profit Target).  I'm not a tech guy, so I need your opinions on this.

DefShare=BP*0.97;Price=StopPrice-Price;SShare=25/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-.02;TIF=DAY+;Route=Stop;StopType=Limit; Sell=Send; Share=DefShare;Price=Share/100; StopPrice=Price; DefShare=100;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+;

 

I really need this hotkey, as at the opening, I'm sending multiple orders (if they meet my setup rules), and I can't manage if I have to manually modify the stop loss order created by Part 2 to be a range order.  Thanks guys.