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Managing a multi-contract position
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Managing a multi-contract position

  #1 (permalink)
Elite Member
Johns Creek GA/USA
 
Futures Experience: Intermediate
Platform: ThinkorSwim, IB
Favorite Futures: Emini ES
 
Posts: 5 since Aug 2016
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Managing a multi-contract position

My apologies if this is answered elsewhere. I have not been able to find an answer.

I want to manage a multiple contract position in EasyLanguage, doing things like taking profits on one contract, moving the stop to break, then trailing the stop and taking profits on other contracts.

I'm surprised to find that EasyLanguage doesn't seem like much help here. It seems that your choices are to manage the entire position with a single target and stoploss for the entire position, or you can manually enter your own buy and sell orders to manage the position.

I expected something more like NinjaTrader's ATM strategies, where you can predefine movement of orders at certain tick setpoints. Does something like this exist in EasyLanguage that I have overlooked?

In my searches, I came across NWT Exits Suite (https://www.multicharts.com/discussion/viewtopic.php?f=5&t=10377). Is this compatible with TradeStation and EasyLanguage?

Thank you for any insights for this TS/EL newbie.

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  #3 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
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Posts: 1,731 since Apr 2013
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greymatter,

you won't be able to use the build in reserved words for targets and stops as they work on the entire position. However you can scale out of positions at different exits or take several entries (at the same price and time for example) and then manage each independently by tying exits to each entry. You will find several examples on how to do that in the official TS forums (these should get you going: https://community.tradestation.com/discussions/Topic.aspx?Topic_ID=100816#511212)

Regards,

ABCTG

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