I am new to this forum and this is my first post here. I day-traded the S&P in the late nineties using TradeStation, a satellite data feed, and I phoned-in orders to my broker. I quit after a few years, but I'm interested in trading again.
Question: Is there a trading platform that will allow me to enter entry orders with a condition to automatically cancel them and then enter a stop loss if filled?
For example, Buy Stop @ 1397.25, cancel if price hits 1389.50, Sell Stop @1389.50 if filled.
NinjaTrader can be downloaded for free, you can connect to the SIM feed and test it within a few minutes. MultiCharts also has a free discretionary version (I cannot use it because I am not a Facebook member).
The following user says Thank You to Fat Tails for this post:
for just that type of application. You also may want to look at the broker MB Trading as they have some reasonably sophisticated order types that can be used lots of different ways. MB also will give you a free look, BUT make sure that if you integrate those two that you will retain the functionality you desire. DB
The following user says Thank You to wldman for this post:
Not anymore. They cancelled that and removed it entirely from their site.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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The following user says Thank You to Big Mike for this post: