Hotkey to Move Stop Loss to Break-Even with "Limit Order"?

[ZackBauer 0]

Before posting this question I scoured this forum and the internet at large to avoid re-asking something that has been answered before but could not find anything!

I want to create a hotkey that updates my stop limit to break-even using a limit order that has a trigger price of AvgCost and then a price of AvgCost+0.05.

Is it possible or are market orders the only way to setup a stop limit hotkey?

Edited July 30, 2020 by ZackBauer

[Abiel 474]

Hi Zack

This is a B/E stop market order:

ALLSYMB;Route=Stop;Price=AvgCost;StopType=MARKET;STOPPRICE=AvgCost;StopPrice=Round2;Share=Pos;TIF=DAY+;Send=Reverse;ROUTE=SMRTL

I guess you just need o change StopType to LIMIT

ALLSYMB;Route=Stop;Price=AvgCost;StopType=MARKET;LIMIT=AvgCost;StopPrice=Round2;Share=Pos;TIF=DAY+;Send=Reverse;ROUTE=SMRTL

Not sure if you can use Price=AvgCost+.05 maybe you can test this in the sim and let us know if it worked for you. 

[ZackBauer 0]

17 hours ago, Abiel said:

Hi Zack

This is a B/E stop market order:

ALLSYMB;Route=Stop;Price=AvgCost;StopType=MARKET;STOPPRICE=AvgCost;StopPrice=Round2;Share=Pos;TIF=DAY+;Send=Reverse;ROUTE=SMRTL

I guess you just need o change StopType to LIMIT

ALLSYMB;Route=Stop;Price=AvgCost;StopType=MARKET;LIMIT=AvgCost;StopPrice=Round2;Share=Pos;TIF=DAY+;Send=Reverse;ROUTE=SMRTL

Not sure if you can use Price=AvgCost+.05 maybe you can test this in the sim and let us know if it worked for you. 

Thanks for the response Abiel, I appreciate it!

I imported the script you provided into DAS and in the "Order Script Wizard" tab, the "Stop Type" field is locked/brayed out onto "Market" which tells me there's no way to change to a "Limit".

I notice that the "Route" of your script uses "SMRTL" , I can't seem to find a definition for that route on DAS' support site, do you know how "SMRTL" differs from the generic "LIMIT" route?

Thanks again!

[Abiel 474]

8 minutes ago, ZackBauer said:

Thanks for the response Abiel, I appreciate it!

I imported the script you provided into DAS and in the "Order Script Wizard" tab, the "Stop Type" field is locked/brayed out onto "Market" which tells me there's no way to change to a "Limit".

I notice that the "Route" of your script uses "SMRTL" , I can't seem to find a definition for that route on DAS' support site, do you know how "SMRTL" differs from the generic "LIMIT" route?

Thanks again!

SMRTL is an Interactive Brokers route.