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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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you described just the hotkeys posted in this OP

Edited by peterB

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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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i might misunderstood your use case then. maybe describe or show the price action and what do you expect and what it does instead. for me it works both directions both for longs and for shorts

always try in sim and with wider stops which would allow easy counting

Edited by peterB

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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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i do something similar but i do it this way:

i set the limit order for the price i want to short and count the risk manually with the risk in your case $0.10 is easy count if you want to risk $50 you need 500 shares. once my order is filled i have a sound alert so i need to click on the stop and press a hotkey where my stop is put. sunds kind acomplicated but it is really easy to do and no stress as the stop i draw a line on the chart.

anyway if you want to do it with automatic static risk counted to your stop, with this priced stock 10 cents is just the spread sometimes so once you enter on the ask side you can be triggered already on the bid size so it exits your position immediately. therefore i instructed you to test with wider stop if the hotkey does what you need.

how to use them is written in the first post. you double click where you want your stop to be and press hotkey 1. you double click where ou want your entry to be and you press hotkey 2

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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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13 minutes ago, rob_smith said:

- I set a trigger price on the SPY of 456.01

you first select stop

then you select the trigger where you want the trade to happen

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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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everybody with wrong hotkey syntax or wrong action does get that error

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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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you can use these variables for the price

image.png.dd2ac1111dff0684440e93fe4076ee81.png

but it will not work with the calculations you wrote as it is too complex for DAS

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