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justinstrommer9

First minute trade?

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justinstrommer9

I want to trade a strategy based off the last pre market candle before the open. 
I ONLY want to enter if it can break the high/low of the pre market candle with a stop on the opposite side.  This is a very fast scalp. I’m newer to Das so wondering if this is possible. This was possible on TOS active ladder, but the opening fills are unreliable and delayed so I couldn’t do it safely.  I’m thinking with IB and Das Maybe it is possible with more reliable fills, but not sure if I can set the limit order up the same way I was able to with TOS active ladder.  I don’t want to just wait for the price to break and enter with a hotkey, I want to have my order set before the break with target and stop in place  

Long example: basically I need to quickly be able to see what price the final pre market candle high is. I place my limit order right above it, this way I ONLY get into the trade if it breaks that price.  I need to be able to do it quickly and if it doesn’t hit target I need to get out quickly on my stop at the low of the pre market candle price. So I would want to use a bracket order with a 1:1 or 2:1 target and stop.  

is it possible to do this quickly and is execution fast enough at the open to get me in and out at a good price safely?  Or will there be too much slippage with the fills because of the opening volatility? I want to start testing this once I get IB and Das setup, but thought I’d reach out first to get others thoughts.  hope this makes sense. 

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Justin
23 hours ago, peterB said:

"opening fills are unreliable and delayed so I couldn’t do it safely" - it is the same as it is an attribute of market not of trading platform or broker

Not quite true Peter. TOS "live" is not even close to the responsiveness of DAS charts.

On 2/21/2021 at 9:03 AM, justinstrommer9 said:

I want to trade a strategy based off the last pre market candle before the open. 

This hotkey is exactly what you're looking for. You can place the open order above the HOD break (or below the LOD break), and it'll only enter if it hits.

  • Thanks 2

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justinstrommer9
On 2/22/2021 at 9:35 AM, Justin said:

Not quite true Peter. TOS "live" is not even close to the responsiveness of DAS charts.

This hotkey is exactly what you're looking for. You can place the open order above the HOD break (or below the LOD break), and it'll only enter if it hits.

Thank you so much I will give this a try now that I have Das Trader and IB set up!!!

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