Add-in Hotkey that moves your original risk (not freeroll)

[Christopher 129]

What up BBT! I'm looking for a hotkey that is similar to the freeroll hotkey, but it calculates and adds the amount of shares needed so if you stop out at your new stop, you'll lose your original -1R. Right now I'm using 100% / 150% / ect.. adds and estimating where my new -1R stop is, but I'd like to have something more precise. 

So assuming price went your direction, and you add, you're risking all your unrealized + 1R. 

-Chris 

 

[KyleK29 257]

On 10/30/2020 at 6:09 PM, Christopher said:

What up BBT! I'm looking for a hotkey that is similar to the freeroll hotkey, but it calculates and adds the amount of shares needed so if you stop out at your new stop, you'll lose your original -1R. Right now I'm using 100% / 150% / ect.. adds and estimating where my new -1R stop is, but I'd like to have something more precise. 

So assuming price went your direction, and you add, you're risking all your unrealized + 1R. 

-Chris 

 

 I have a prototype that I haven't completed. It's in a batch of hotkeys I have to create videos and instructions for that I plan to release next month. That particular hotkey will be called "Scale-In w/ Refactored Risk".

[Cody Vincent 0]

On 12/10/2020 at 9:21 AM, KyleK29 said:

 I have a prototype that I haven't completed. It's in a batch of hotkeys I have to create videos and instructions for that I plan to release next month. That particular hotkey will be called "Scale-In w/ Refactored Risk".

yes!  excited for this hotkey!  ive tried to modify the freeroll hotkey to do this, instead of a BE stop its a 1R stop. and instead of using unrealized to buy shares afforded, it uses a fixed dollar amount.   With no success at this point...

[Alastair 110]

On 12/10/2020 at 11:21 AM, KyleK29 said:

 I have a prototype that I haven't completed.

@KyleK29, These r the ones u were planning but wanted DAS to complete a small fix ? Including the multiple OCO targets ? Wow, cool.....looking forward man. BIG BIG Thks.

[Julien Maisan 4]

Hi Guys,

Actually, I did it by myself and it works pretty well after a 3 month test (in sim and live). You just have to tweak it based upon your fixed risk amount.

I hope it will help you and let me know if you have any questions about it.

 

To add 10$ risk LONG :

CXL ALLSYMB;StopPrice = Price;Share=Price*100*Pos;Price=AvgCost;SShare=Price*100*Pos;Share=Share-SShare+1000; Price=Share/100;Share=Price;Price=Ask-StopPrice;SShare=Share / Price;DefShare=BP*0.97;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;SShare=DefShare-SShare;Share=0.5*SShare;Price=Ask+0.02;TogSShare;TIF=DAY+;ROUTE=LIMIT;BUY=SEND;DefShare=10; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+;

 

To ass 10$ risk SHORT :

CXL ALLSYMB;StopPrice = Price;Share=-Price*100*Pos;Price=AvgCost;SShare=-Price*100*Pos;Share=Sshare-Share+1000; Price=Share/100;Share=Price;Price= StopPrice-Bid;SShare=Share / Price;DefShare=BP*0.97;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;SShare=DefShare-SShare;Share=0.5*SShare;Price=Bid-0.02;TogSShare;TIF=DAY+;ROUTE=LIMIT;SELL=SEND;DefShare=10; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+;

 

As usual, you have to change the route from LIMIT to SMRTL if you trade with IB, and the risk amount is multiplied by 100 in the hotkey script, so you just have to change the underlined and bold 10.

 

Just one additional important point, it only works when your new stop loss and your new entry are in the direction of your trade, which anyway corresponds to your add strategy. However, if you select a wider stop for your add (which is theoretically impossible if you want to keep the same R amount), it still calculates a nb of shares (because one of the field used in the script automatically transforms negative values in positive ones)

 

I hope it helps.

[Cody Vincent 0]

On 12/21/2020 at 12:39 PM, Julien Maisan said:

Hi Guys,

Actually, I did it by myself and it works pretty well after a 3 month test (in sim and live). You just have to tweak it based upon your fixed risk amount.

I hope it will help you and let me know if you have any questions about it.

 

To add 10$ risk LONG :

CXL ALLSYMB;StopPrice = Price;Share=Price*100*Pos;Price=AvgCost;SShare=Price*100*Pos;Share=Share-SShare+1000; Price=Share/100;Share=Price;Price=Ask-StopPrice;SShare=Share / Price;DefShare=BP*0.97;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;SShare=DefShare-SShare;Share=0.5*SShare;Price=Ask+0.02;TogSShare;TIF=DAY+;ROUTE=LIMIT;BUY=SEND;DefShare=10; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY+;

 

To ass 10$ risk SHORT :

CXL ALLSYMB;StopPrice = Price;Share=-Price*100*Pos;Price=AvgCost;SShare=-Price*100*Pos;Share=Sshare-Share+1000; Price=Share/100;Share=Price;Price= StopPrice-Bid;SShare=Share / Price;DefShare=BP*0.97;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;SShare=DefShare-SShare;Share=0.5*SShare;Price=Bid-0.02;TogSShare;TIF=DAY+;ROUTE=LIMIT;SELL=SEND;DefShare=10; TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY+;

 

As usual, you have to change the route from LIMIT to SMRTL if you trade with IB, and the risk amount is multiplied by 100 in the hotkey script, so you just have to change the underlined and bold 10.

 

Just one additional important point, it only works when your new stop loss and your new entry are in the direction of your trade, which anyway corresponds to your add strategy. However, if you select a wider stop for your add (which is theoretically impossible if you want to keep the same R amount), it still calculates a nb of shares (because one of the field used in the script automatically transforms negative values in positive ones)

 

I hope it helps.

Julien Thanks for posting this, ill try em out.  

[Christopher 129]

@KyleK29

What up Kyle! Any update on this??

 

[Julien Maisan 4]

Hi Christopher,

 

I don't know if you tried the scripts I posted above but they work pretty well.

 

Let me know if you have any issue with them.

Edited February 11, 2021 by Julien Maisan

[Alastair 110]

1 hour ago, Julien Maisan said:

Hi Christopher,

 

I don't know if you tried the scripts I posted above but they work pretty well.

 

Let me know if you have any issue with them.

This looks great.......currently I add a percentage when the trade is in my direction, guessing/calc in my head.  So this would stream line my percent adding I assume.

Where do u suggest to double click to set the stop ?

[Julien Maisan 4]

3 minutes ago, Alastair said:

This looks great.......currently I add a percentage when the trade is in my direction, guessing/calc in my head.  So this would stream line my percent adding I assume.

Where do u suggest to double click to set the stop ?

The new stop must be closer to the price than your initial stop to add risk on your trade (if not, the hot button miscalculates the share size). 

Then for the stop placement it depends on your strategy, but I would still put it under a technical level where you consider your setup to be failed. 

I hope it helps