Risk Manage with TOS - ThinkOrSwim | futures io social day trading
futures io futures trading


Risk Manage with TOS
Updated: Views / Replies:4,742 / 15
Created: by realcapri Attachments:3

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 3  
 
Thread Tools Search this Thread
 

Risk Manage with TOS

  #1 (permalink)
Johor/Malaysia
 
 
Posts: 13 since Aug 2014
Thanks: 3 given, 1 received

Risk Manage with TOS

Hi all, I've been demoing with TOS for weeks now.

May I know if there's any method to setup a trade (stocks/ futures / forex) with SL at a predetermined risk ($) in TOS? I've yet find a way to get that information from TOS as it only allows me to setup trade with units / contracts. I need to know my risk$ per trade (using SL) to risk manage effectively.

Thanks.

Reply With Quote
The following user says Thank You to realcapri for this post:
 
  #2 (permalink)
Puerto Rico
 
Trading Experience: Intermediate
Platform: thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: ES
 
rmejia's Avatar
 
Posts: 377 since Oct 2010
Thanks: 3,599 given, 431 received

Check out the "Active Trader" for futures trading. On the Active Trader there is a "Template" drop down menu with OCO order options:
https://tlc.thinkorswim.com/center/video/videos/Active-Trader


For stocks you would use the Order Entry, Advanced Order - drop down. I can't link specific videos, but look under "Trade" "All Products" for a couple of video Tutorials here:
Learning Center

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


* I think OCO orders can only be established on order entry. Once you place an order you can't create an OCO with a stop and target. You can create a stop order, and a target order separately but if one is hit it will not cancel the other if not created as an OCO on the initial order.

Reply With Quote
 
  #3 (permalink)
Johor/Malaysia
 
 
Posts: 13 since Aug 2014
Thanks: 3 given, 1 received



rmejia View Post
Check out the "Active Trader" for futures trading. On the Active Trader there is a "Template" drop down menu with OCO order options:

For stocks you would use the Order Entry, Advanced Order - drop down. I can't link specific videos, but look under "Trade" "All Products" for a couple of video Tutorials here:

* I think OCO orders can only be established on order entry. Once you place an order you can't create an OCO with a stop and target. You can create a stop order, and a target order separately but if one is hit it will not cancel the other if not created as an OCO on the initial order.



Hi rmejia, thanks for the answer. But it's not what I'm asking for. I'm looking for a way to enter a trade with predefined risk dollar (eg. risking $100 per trade by setting SL at a predetermined level & having TOS auto-calculate my trading units/contracts).

The default way of entering trade with OCO doesn't seem to provide any info about how much money would be risked (from SL level) & profit (from TP level) upon order entry. I wonder if it's possible to setup TOS to output such information upon order entry or will I need to do some sort of scripting?

Any idea?

Reply With Quote
 
  #4 (permalink)
Johor/Malaysia
 
 
Posts: 13 since Aug 2014
Thanks: 3 given, 1 received


realcapri View Post
Hi rmejia, thanks for the answer. But it's not what I'm asking for. I'm looking for a way to enter a trade with predefined risk dollar (eg. risking $100 per trade by setting SL at a predetermined level & having TOS auto-calculate my trading units/contracts).

The default way of entering trade with OCO doesn't seem to provide any info about how much money would be risked (from SL level) & profit (from TP level) upon order entry. I wonder if it's possible to setup TOS to output such information upon order entry or will I need to do some sort of scripting?

Any idea?


Anyone has any idea on the above?

Reply With Quote
 
  #5 (permalink)
Market Wizard
Portland, OR
 
Trading Experience: None
 
Massive l's Avatar
 
Posts: 1,796 since Mar 2011
Thanks: 1,313 given, 3,055 received

I just use the Active Trader tab with the p/L displayed in the right hand column
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following 4 users say Thank You to Massive l for this post:
 
  #6 (permalink)
Johor, Malaysia
 
Trading Experience: Beginner
Platform: Sierra Chart
Favorite Futures: CL, GC
 
Posts: 172 since Oct 2013
Thanks: 1,134 given, 158 received

TOS demo

Hi realcapri,

Just to let you know if you're using the free TOS demo version, it's not accurate. The order and the chart price is lagged. Chart price is accurate.


mykee

Reply With Quote
 
  #7 (permalink)
Johor/Malaysia
 
 
Posts: 13 since Aug 2014
Thanks: 3 given, 1 received


Massive l View Post
I just use the Active Trader tab with the p/L displayed in the right hand column

Hi Massive I,

Thanks, that's the information I'm looking for. But is there other ways of viewing "P/L open" upon order entry? Viewing through ActiveTrader for my potential risk$ & profit$ will be my last alternative though if I can't find other ways.

I've coded with MQL4 for metatrader, haven't spend time studying Thinkscript. Is it possible to output "P/L open" somehow through Thinkscript?

Reply With Quote
 
  #8 (permalink)
Johor/Malaysia
 
 
Posts: 13 since Aug 2014
Thanks: 3 given, 1 received


mykee View Post
Hi realcapri,

Just to let you know if you're using the free TOS demo version, it's not accurate. The order and the chart price is lagged. Chart price is accurate.


mykee

Hi mykee,

I'm currently on TOS demo. I'm aware of the lagged data, just wanted to get my hands on TOS since it's one of the best alternative free platform I can find to trade multiple instruments (forex, futures, stocks, etc).

Reply With Quote
 
  #9 (permalink)
Johor, Malaysia
 
Trading Experience: Beginner
Platform: Sierra Chart
Favorite Futures: CL, GC
 
Posts: 172 since Oct 2013
Thanks: 1,134 given, 158 received

Forex

Hi realcapri,

Don't mean to be nosy, but don't think it's legal to trade Forex here(M'sia). If you have an acct in spore, then fine. Hope you're not trading with one of those "illegal/scam" forex company here.


mykee

Reply With Quote
 
  #10 (permalink)
Johor/Malaysia
 
 
Posts: 13 since Aug 2014
Thanks: 3 given, 1 received



mykee View Post
Hi realcapri,

Don't mean to be nosy, but don't think it's legal to trade Forex here(M'sia). If you have an acct in spore, then fine. Hope you're not trading with one of those "illegal/scam" forex company here.


mykee


No worries, I'm doing it all legal.

Reply With Quote

Reply



futures io > > > > Risk Manage with TOS

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

$250 Amazon Gift Cards with our "Thanks Contest" challenge!

Right now
 

Show us your trading desks and win over $5,000 in prizes w/Jigsaw Trading

September
 

The Spirituality of Trading w/Dr Brett Steenbarger

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
FT71's Price Risk vs. Information Risk argument keymoo Psychology and Money Management 23 April 1st, 2017 11:46 AM
Successful traders: Risk Taker or Risk Averse? Big Mike Psychology and Money Management 42 March 7th, 2013 01:00 PM
Export the risk in terms of Risk/Reward using Van Tharp Multiple R daniv NinjaTrader 0 October 21st, 2012 04:52 AM
Warren Buffett: Next Berkshire CEO Will Manage Risk & Make Good Deals Quick Summary News and Current Events 0 May 5th, 2012 11:10 AM
CS Global Risk Appetite Signals Risk-Off As Sentiment Stays In 'Panic' Mode Quick Summary News and Current Events 0 December 22nd, 2011 05:40 AM


All times are GMT -4. The time now is 03:00 AM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts