Short with trailing stop setup

[Ekhall 0]

Hi guys,

 

Couple questions about orders with trailing stops

 

I've setup a "Buy with trailing stop" as so:

 

ROUTE=LIMIT;Price=Ask+0.05;TIF=DAY+;BUY=Send;TriggerOrder=RT:STOP STOPTYPE:TRAILING STOPPRICE:0.15 ACT:SELL QTY:POS TIF:DAY+

 

I'm trying to setup a "Short with trailing stop" as well. But this I _think_ is setting up an inappropriate stop.

 

ROUTE=LIMIT;Price=Bid-0.05;TIF=DAY+;SELL=Send;TriggerOrder=RT:STOP STOPTYPE:TRAILING STOPPRICE:0.15 ACT:BUY QTY:POS TIF:DAY+

 

I can't for the life of me find a tutorial or manual on this type of setup for DAS. Can someone see where I'm not doing this correctly or show me where there are some docs on this sort of customization?

 

Additional questions:

1. How does one set a Percentage Trailing Stop?

2. When I try to scale into a position I'll get duplicate stop orders, one for the first quanity and the second for the first quantity + second quantity. Way to clear the first trailing stop?

 

E.g. I buy 100 shares, a 100 trailing stop sell is added. I add 100 shares, there's a second trailing stop order for 200 and the original for 100 is still there.

 

Thank you!

[Robert H 453]

Ekhall, here's an

which covers all stop types.

 

This is a sample script for a SELL trailing stop, with a 0.50 trailer:

Share=Pos;ROUTE=STOP;StopType=Trailing;TrailPrice=0.50; TIF=DAY+;SELL=Send;

 

For a BUY trailing stop, try this:

Share=Pos;ROUTE=STOP;StopType=Trailing;TrailPrice=0.50; TIF=DAY+;BUY=Send;

 

1. In the video they demonstrate the percentage stop, but I haven't gotten it to work in DAS. Perhaps they removed it in newer versions?

 

2. Since your hotkey sends both a BUY/SELL and a STOP, of course a second stop order will be queued. It would get pretty complicated trying to script for this. How about creating a second hotkey for scaling in? You could try something like this so the 2nd trailing stop is only for half of your entire position:

ROUTE=LIMIT;Price=Ask+0.05;TIF=DAY+;BUY=Send;Share=Pos/2;ROUTE=STOP;StopType=Trailing;TrailPrice=0.50; TIF=DAY+;SELL=Send;

 

Let me know how it goes.

[Yuanzhi 8]

On 4/4/2018 at 8:22 AM, Robert H said:

Ekhall, here's a....

Hi Robert,

Thanks for sharing.

I understand the trailing stop for short or sell. As the price move up we want the most profit as possible. So when I long a stock the trailing stop should below current price.  No problem.

\

But if I am now short a stock, I want to cover at using trailing strategy. Shouldn't the order be above the current price? Why the green hollow arrow still below the current price?

[baxtroker81 13]

On 4/4/2018 at 5:22 AM, Robert H said:

@Robert H

I tried the trailing stop hotkeys this morning in simulator.  Those didn't seem to work for me.

[RHadley 3]

In regards to HotKey scripts...

Is it necessary to set positive or negative values on the trail price for Short Trail vs. Long Trail ? ....or does the Buy or Sell stop order determine that automatically ?

[Carlos M. 230]

On 1/29/2019 at 3:58 PM, RHadley said:

In regards to HotKey scripts...

Is it necessary to set positive or negative values on the trail price for Short Trail vs. Long Trail ? ....or does the Buy or Sell stop order determine that automatically ?

No need to set neg or pos.. Just enter the amount you want the trail stop to be and based on your position Das will execute based on your Sell or Buy. 

[DennisO 0]

I have set both of these up as for Long and Short hotkeys on my Simulator and will try it tomorrow.  Tonight I am getting a timeout, but will no market activity I think that would be normal. 

 

[SpoTT Trader 35]

Good morning from Toronto.

I feel a bit embarrassed however I am having an issues simply setting a Market Stop order to work.  Never can seem to get any sort of stops working in DAS.

Perhaps anyone here can simple tell me what in there opinion this script means... (I know what it should do... But it doesn't) perhaps I am missing something.... Can anyone offer any leads or tips to my issue?

 

ROUTE=STOP;StopType=Market;StopPrice=Last-0.1;Share=Pos;TIF=DAY+;SELL=Send

 

Thank you.

[SpoTT Trader 35]

I was just informed by DAS support that " STOP orders may or may not execute during pre/post market hours "  Thought I would share this to the community.  Many of the times I am testing out my orders pre-market... I will test further during open market times and will update.

 

Thanks.

[baxtroker81 13]

Yeah they never seem to work for me pre or post market hours, that’s the main reason I’m scared to swing trade

[BBT Member 001 27]

I have a question, maybe someone here could help me.

Currently use Kyle's 1:1 Hotkey to partial out. I would like to know if someone has tried making it so when 1R profit is reached, you partial x% but you also trigger a trailing stop of 0.5R. THat way once i get 1R of x% of my position, the rest of the position will stop out automatically.

 

[Justin T 5]

Hi All,

Are there any rules of thumb when it comes to setting a selling / buying stop percentage? Or is it better to use a fixed dollar amount?

Cheers,

Justin

 

[Brendon 146]

1 hour ago, Justin T said:

Hi All,

Are there any rules of thumb when it comes to setting a selling / buying stop percentage? Or is it better to use a fixed dollar amount?

Cheers,

Justin

 

Hi Justin, I would never use a % amount, I would use the $ amount you're comfortable with losing in that trade without wincing too much/increase heart bpm when you get stopped out lol. Also use a $ amount that wont blow up your account either and you can absorb several losing trades without affecting your typical position size buying power ability. 

[Justin T 5]

12 minutes ago, Brendon said:

Hi Justin, I would never use a % amount, I would use the $ amount you're comfortable with losing in that trade without wincing too much/increase heart bpm when you get stopped out lol. Also use a $ amount that wont blow up your account either and you can absorb several losing trades without affecting your typical position size buying power ability. 

Hi Brendon,

This isn't for my initial stop, this is for implementing a stop after I have partialled out and are letting a position ride throughout the day. I'm based in Australia can can typically only trade the first 1-2 hours and have subsequently have missed some large moves that have occurred later towards close.

I ask because I definitely exited trades too early the last couple of days!

[Brendon 146]

19 hours ago, Justin T said:

Hi Brendon,

This isn't for my initial stop, this is for implementing a stop after I have partialled out and are letting a position ride throughout the day. I'm based in Australia can can typically only trade the first 1-2 hours and have subsequently have missed some large moves that have occurred later towards close.

I ask because I definitely exited trades too early the last couple of days!

Oh! In that case I would use a blend of huge L2 orders sitting at daily or intraday levels to partial out (if they are there). But if you're at work and want to set limit orders, you cant use the L2 that far down the line, so I would just set those orders to daily levels, high/low of day break or pre-market, whole or half dollar numbers, and previous day high low areas. I wouldn't use % for anything.