Hot Key Question

[Jason Brumm 1]

Here is my Buy 1:3 risk $1 hot key script:

ROUTE=SMRTL;Price=Ask+0.10;TIF=DAY+;BUY=Send;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:AvgCost2-1.0 HighPrice:AvgCost2+3.0 ACT:SELL QTY:POS TIF:DAY+

So what I am trying to do is configure this to be a 1:2 range order which is easy and I can do that but I want it to only sell half my POS at 2r but if it stops me out the whole POS is liquidated.  When I change the current ACT: SELL QTY: POS to *.5 it sets the whole range order to half of my default position size so it sell 50% at the target profit but if it goes against me it only sells 50% of the position when I want it to stop out the full position set in the range.

Any ideas would be great

 

 

 

[Jason Brumm 1]

OCO Is what DAS said Thanks

[KyleK29 260]

2 hours ago, Jason Brumm said:

ROUTE=SMRTL;Price=Ask+0.10;TIF=DAY+;BUY=Send;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:AvgCost2-1.0 HighPrice:AvgCost2+3.0 ACT:SELL QTY:POS TIF:DAY+

In the latest versions (5.5.2.1 and above) of DAS you can do this with a hotkey. Test this in your SIM account:

ROUTE=SMRTL;Price=Ask+0.10;TIF=DAY+; OCO=RT:STOP STOPTYPE:MARKET PX:AvgCost-1.0 STOPPRICE:AvgCost-1.0 ACT:SELL QTY:Pos TIF:DAY+; BUY=Send; TriggerOrder=RT:STOP STOPTYPE:RANGE PX:AvgCost-1.0 LowPrice:AvgCost2-1.0 HighPrice:AvgCost2+3.0 ACT:SELL QTY:POS*0.5 TIF:DAY+;

This would create an order setup like this:

• Open a position 
• When the position opens, create two Open Orders pending with:
  • STOP Order for 100% out at the StopPrice of AvgCost-1.00
  • STOP RangeOrder for 50% out at the LowPrice of AvgCost-1.0 and HighPrice of AvgCost+3.0
• These STOP orders are linked together, if either triggers it will cancel the other one. Keep in mind that if the RangeOrder for 50% triggers it will cancel out the other STOP order, and you'll need to create a new STOP order for your remaining position.

 

Alternatively, you can do it this way as well:

ROUTE=SMRTL;Price=Ask+0.10;TIF=DAY+; BUY=Send; TriggerOrder=RT:STOP STOPTYPE:RANGE PX:AvgCost-1.0 LowPrice:AvgCost2-1.0 HighPrice:AvgCost2+3.0 ACT:SELL QTY:POS*0.5 TIF:DAY+;TriggerOrder=RT:STOP STOPTYPE:RANGE PX:AvgCost-1.0 LowPrice:AvgCost2-1.0 HighPrice:AvgCost2+5.0 ACT:SELL QTY:POS*0.5 TIF:DAY+;

This would create an order setup like this:

• Open a position
• When the position opens, create two Open Orders pending with:
  • STOP Range Order for 50% out at the LowPrice of AvgCost-1.0 and HighPrice of AvgCost+3.0
  • STOP Range Order for 50% out at the LowPrice of AvgCost-1.0 and HighPrice of AvgCost+5.0
• If one of these orders is hit, the other still remains for the remainder of the position.
• As an important note, keep an eye on the Position Qty for these orders. Rounding errors doing Pos*0.5 could cause the two orders to not add up to exact 100% of your positions (e.g. if your position is 51 shares, both maybe qty: 25, you'd have 1 share unaccounted for). To move a STOP up the chart, you'd need to drag both orders.

 

When I finish the new Dynamic Hotkey configurator tool, it'll take these rounding errors into account and adjust the script accordingly. 

Edited January 27, 2021 by KyleK29

[Jason Brumm 1]

Thanks KYLE I need to make sure I have the latest version it's doing the same thing as before.  Ill get back to you on this after lunch.  Seriously thanks for responding with a possible solution!!!
 

[Jason Brumm 1]

Kyle I updated to the latest version and I am getting this. hen when I click ok it sets a range order of 50% of the default share size on my TMP

Edited January 27, 2021 by Jason Brumm

[KyleK29 260]

55 minutes ago, Jason Brumm said:

Kyle I updated to the latest version and I am getting this. hen when I click ok it sets a range order of 50% of the default share size on my TMP

I made a tweak to the scripts above, I forgot about that bug. 

If a Trigger Order doesn't have a PX value defined, it causes this error .. even if it doesn't use the PX value (you only use it with Limits and Stop Limits).

Edited January 27, 2021 by KyleK29

[Jason Brumm 1]

Hey Kyle, sorry for the delayed response did you edit the scripts above or is there a thread I am missing.  Got the ole Covid Vaccine on thursday and I have been a little under the weather since.   Thanks for your help here

[Jason Brumm 1]

KYLE! ok so I read back through your notes and found the edited script.  So it sets 2 range orders both of which sell at your 1r risk if its goes against you and fills and subsequently cancels the high end of the range.  If you go ITM, the first range order sells at 2r and clears leaving the 2nd range order that is 4r with the remaining 50% of your position set to sell all out if hit.  It's a beauty because you can then slide up the low range of your R to wherever you want it and it keeps your final tp set(which can also slide too).I have an active trade going with it so very interested to see how it performs and will report back but so far its amazing!  Thank you

 

Edited February 2, 2021 by Jason Brumm