Is there a way to automatically calculate a 1R stoploss after you already have an open position?

[tj10777 1]

Is there a way to make a hotkey that dynamically calculates your stoploss based on the number of shares you already have and a predetermined risk?

The following is an example of what I want to do:

I manually enter a limit order for 50 shares at a price of $100.

After my order is filled, I would like to press a hotkey that will dynamically calculate where my stoploss will be based on a predetermined risk of $10 and the number of shares I have. In this case the stoploss would be at $98.80

I usually like to enter my orders manually with limit orders to get excellent entries on my trades.  I already know my stoploss with be at $98.80 and only want to risk $10 on this trade. I could enter my stoploss manually, but it usually takes too much time. I have used Kyle's hotkeys extensively and they are great. The problem I have is I never seem to be able to hit the hotkey at just the right moment to get the fill that I want.  

I know Kyle's hotkeys automatically calculate where your stoploss will be based on predetermined risk and your share size. I just want to know if the part of the hotkey that calculates where your stoploss should be can be used when you already have an open position.

My apologies if this topic is already open somewhere else in the forum. Thanks for reading.

Edited December 2, 2021 by tj10777

[tj10777 1]

Thank you for taking the time to answer my question Peter. I think the hotkeys in the thread you posted will work for me. I didn't realize there was a hotkey combination that would do this. I'll have to try these out is Sim. Thank you!