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Justin

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

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Is there a way to do this with trailing stops instead? 

Even better, is there just a script to double-click on the chart to place a future order with a set trailing stop?

EDIT: Figured it out, this will allow you to double-click on the chart and press the hotkey for the below command to set a buy/long price at the share amount shown in the montage, and when triggered sets a 10c trailing stop. 

ROUTE=STOP;StopType=LIMIT;StopPrice=Price;TIF=DAY+;BUY=SEND;TriggerOrder=RT:STOP STOPTYPE:TRAILING STOPPRICE:0.10 ACT:SELL QTY:POS TIF:DAY+;

 

Edited by MiahX

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As i have started using these keys, 2 questions arose for me:

1. Is it possible to incorporate a route into the hotkey and thus leverage the SMART abilities from IB?

2. Why is the hotkey not working, when I already have an open position in that ticker and I am using the hotkey as an 'add'?

Seems the answers are as follows:

1.  The script uses a STOP route to be able to do the delayed entry and IB handles that internally (they don't offer a Smart Stop equivalent). As such, this is not possible with DAS' current capabilities.

2. This hotkey only works for initial entries.  If you want to scale into a position, or add if that's how you are looking at it, then you can consider Kyle's scale-in hotkeys from his hotkey spreadsheet.

I hope this information proves helpful for other people as they consider whether/how to use these awesome hotkeys.

All the best,

Hamish

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Hi All - I am trying to create a hotkey that will do something similar. However, I would like to be able to short a stock heading higher in price at a certain price (let's say $100) and if it breaks above that level have an automatic stop set to buy it to cover at $100.05. The same goes for the inverse of this, buy a stock at a certain price (let's once again say $100) and sell it if it hits $99.95. I like to trade off of moving averages and keep a really tight stop. Does anyone know how to do this or if it exists? Thanks.

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I am confused then. I am having trouble getting it to work. I can get them to work on break of high of day, but not on what I describe. For a break of HOD it will buy it back if it falls below a certain level. However, I need it to short it the HOD and buy it ABOVE that level. Coding is very confusing to me and I appreciate all the help I can get. Thanks.  

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First - thank you very much for helping me out. Attached is a great example. I wanted to short it right at the 9EMA - $463.76. If it broke higher (let's say to $463.86) I wanted to cover immediately. I am looking for an immediate turn in price with a very tight stop. If these hotkeys do that then I am simply confused on how to use them.

01-14-2022 SPY 60.PNG

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Do you have an issue where it subtracts down a certain amount of pennies from where you actually place the stops? For example - I set a trigger price on the SPY of 456.01, I then place an order to short it at 455.94. However, the actual position will get filled shorting it at 455.89. Do you have any idea why? Here is the exact code the hotkey is using.

DefShare=BP*0.97;Price=StopPrice-Price;SShare=5/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-.05;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+;
 

Thanks. 

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Hi, Justin.

Your hotkey is amazing. I have been using it for almost a year. Thank you.

Recently I have adjusted my trading strategies and have been looking for a hotkey which is slightly different than this one.

For example,

The current price is $10, I am going to set a limit order at $9.2 and set the stop loss at $9. (It's like catching a falling knife)

I want to double click $9(stop loss), hit part 1, then double click $9.2(entry), and hit part 2, to put a limit order at $9.2 risking an R.

Once my order got filled, there would be a stop order sent.

I think it's similar to this one you made, but I have no idea to make the one I want at the moment.

Would you give me a hand on this, please?

I would truly appreciate that.

Thank you

 

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hi guys, trying to get an idea if what i'm thinking of is doable:

i primarily trade fib retracements at the open calculated based off high/low.

For instance, High of Day = 405, Low of Day = 400.

I enter limit order short at 50% retracement ie 402.5 with SL at 405+2c.

Currently I'm using the 2 part hotkeys which works wonderfully (1st part to set SL at 405+2c, 2nd part to set limit order at 402.5).

Just wondering if I can word the hotkey using High and Low of day as reference?

i.e for Short

Part 1 for Stoploss and calculating of shares = High of Day + 2c

Part 2 = Limit Short at Level : [High of Day - (High of Day - Low of Day)*0.5] 

Any help will be much appreciated!

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