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Hamish Arnold

Hotkey to sell/cover existing position and add stop order to reenter with same position size

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I was hoping that someone might have a hotkey script that achieves this.

The scenario would be, say, a long position where you believe that the price is going to head south.  You want to sell your entire position but you are concerned that the price action might turn around and continue heading north.  If I have 100 shares from an entry of $10.00, with a stop at $9.80, and the price has reached $10.50 but is showing a head and shoulders pattern whilst L2 ask ladder remains strong, then I would like to sell the 100 shares at $10.50 as the price is declining, however at the same time I would like to add a stop buy order at $10.55 (Price +0.05) for the same position size.  The stop position I would add back in myself, using the original trade's breakeven level (+5c!).

Similarly, I would need the same for a short position where I am covering the entire position, with a new short stop sell order at 5c below the cover level.

As the price falls, then I can shift that stop order closer to the price action so that if I am right on the exit, I do not lose the profit at the inflection point, but if it does reverse into the L2 ladder upside then I am ready to get back into the original trade.

Here's hoping?!!!!

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