How to place an order where the stop loss price changes when a price is touched - futures io
futures io futures trading



How to place an order where the stop loss price changes when a price is touched


Discussion in TradeStation

Updated by icanseethefuture
      Top Posters
    1. looks_one hamstonil with 6 posts (4 thanks)
    2. looks_two Blash with 3 posts (2 thanks)
    3. looks_3 kevinkdog with 3 posts (4 thanks)
    4. looks_4 Halb with 1 posts (0 thanks)
    1. trending_up 589 views
    2. thumb_up 10 thanks given
    3. group 6 followers
    1. forum 14 replies
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

How to place an order where the stop loss price changes when a price is touched

(login for full post details)
  #1 (permalink)
Kansas City, MO, United States
 
 
Posts: 6 since Jul 2020
Thanks: 1 given, 4 received

Trying to place the following order and having trouble figuring out how.

This part, I can do using a bracket OSO order: Buy 1000 shares XYZ stop limit, 100 bid stop, 101 bid limit OSO sell 1000 shares XYZ limit at 105 OCO sell 1000 shares XYZ stop market at 99.

Here's what I want it to do after that order is live: If/when the price hits 103 (STT), I want to automatically change the stop market price from 99 to 100 (or preferably the entry price since it's a stop limit order).

Anyone have any guesses on how to place this order?

Thanks in anticipation!

Reply With Quote

Can you help answer these questions
from other members on futures io?
help to convert from thinkscript to ninjascript
NinjaTrader
is there an easy way to obtain by code the price variation percentual
MultiCharts
GBP/ARS Pair
Traders Hideout
Need a near crosses scan help for TOS
ThinkOrSwim
DLL with webrequest function for MC
MultiCharts
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Legal question and need desperate help
185 thanks
Building a high-performance data system
18 thanks
FIO Journal Challenge - June 2020 w/SharkIndicators
15 thanks
VWAP for stock index futures trading?
11 thanks
Is Orderflow An Outdated Concept?
11 thanks
 
(login for full post details)
  #2 (permalink)
San Fracisco California USA
 
Experience: Advanced
Platform: TradeStation
Broker: Tradestation
Trading: Emini ES
 
Posts: 2 since Jul 2016
Thanks: 3 given, 1 received

I donít have an answer but if I wanted to try and create one I would take a look at the custom OSO/OSO function. Hope it helps. HalB

Reply With Quote
 
(login for full post details)
  #3 (permalink)
New York City + NY/United States
 
 
Posts: 225 since Sep 2018
Thanks: 85 given, 181 received


Sounds like you're looking for a custom trailing stop. Your options may be limited by the platform you're trading on.

For example in Ninjatrader 8, you can attach a stop loss order to an indicator. For the indicator, create a custom indicator with a variable that tracks where you're stop would be at any given price.

https://ninjatrader.com/blog/attach-orders-indicators-ninjatrader-8/



hamstonil View Post
Trying to place the following order and having trouble figuring out how.

This part, I can do using a bracket OSO order: Buy 1000 shares XYZ stop limit, 100 bid stop, 101 bid limit OSO sell 1000 shares XYZ limit at 105 OCO sell 1000 shares XYZ stop market at 99.

Here's what I want it to do after that order is live: If/when the price hits 103 (STT), I want to automatically change the stop market price from 99 to 100 (or preferably the entry price since it's a stop limit order).

Anyone have any guesses on how to place this order?

Thanks in anticipation!


Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #4 (permalink)
Legendary Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
Blash's Avatar
 
Posts: 2,231 since Nov 2011
Thanks: 7,056 given, 4,276 received


hamstonil View Post
Trying to place the following order and having trouble figuring out how.

This part, I can do using a bracket OSO order: Buy 1000 shares XYZ stop limit, 100 bid stop, 101 bid limit OSO sell 1000 shares XYZ limit at 105 OCO sell 1000 shares XYZ stop market at 99.

Here's what I want it to do after that order is live: If/when the price hits 103 (STT), I want to automatically change the stop market price from 99 to 100 (or preferably the entry price since it's a stop limit order).

Anyone have any guesses on how to place this order?

Thanks in anticipation!

Depends on your platform. Seems to me you're looking to protect profit once market moves in your favor X amount. Most platforms, these days, can do that no problem.

Please......What platform are you using?

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #5 (permalink)
Kansas City, MO, United States
 
 
Posts: 6 since Jul 2020
Thanks: 1 given, 4 received


Blash View Post
Depends on your platform. Seems to me you're looking to protect profit once market moves in your favor X amount. Most platforms, these days, can do that no problem.

Please......What platform are you using?

Ron

I just assumed posting in the TradeStation forum implied I was using TradeStation.

I know how to do a bracket OSO/OCO order. So I can place an entry order that sends a profit target and stop loss OCO bracket. But making that stop loss adjust to a new price when a certain price target is hit is where I'm lost.

Reply With Quote
The following user says Thank You to hamstonil for this post:
 
(login for full post details)
  #6 (permalink)
Legendary Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
Blash's Avatar
 
Posts: 2,231 since Nov 2011
Thanks: 7,056 given, 4,276 received


hamstonil View Post
I just assumed posting in the TradeStation forum implied I was using TradeStation.

I know how to do a bracket OSO/OCO order. So I can place an entry order that sends a profit target and stop loss OCO bracket. But making that stop loss adjust to a new price when a certain price target is hit is where I'm lost.

oops....

Sorry I missed that.....

Did a quick Google search and found this for you....hope it helps and please forgive me.



Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Blash for this post:
 
(login for full post details)
  #7 (permalink)
Kansas City, MO, United States
 
 
Posts: 6 since Jul 2020
Thanks: 1 given, 4 received


Blash View Post
oops....

Sorry I missed that.....

Did a quick Google search and found this for you....hope it helps and please forgive me.

Ron

Yeah. I've seen all the TS videos already. It's not a simple trailing stop...that I can do. Let's say I'm bullish the stock XYZ and I enter the trade at 100 and place a stop market order (stop loss) at 90. When the price hits $110, I want the stop market order moved to $100. BUT...if the price moves to $105 (before hitting $110), I don't want the stop moved to $95, what a trailing stop would do.

Reply With Quote
The following user says Thank You to hamstonil for this post:
 
(login for full post details)
  #8 (permalink)
Legendary Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
Blash's Avatar
 
Posts: 2,231 since Nov 2011
Thanks: 7,056 given, 4,276 received


hamstonil View Post
Yeah. I've seen all the TS videos already. It's not a simple trailing stop...that I can do. Let's say I'm bullish the stock XYZ and I enter the trade at 100 and place a stop market order (stop loss) at 90. When the price hits $110, I want the stop market order moved to $100. BUT...if the price moves to $105 (before hitting $110), I don't want the stop moved to $95, what a trailing stop would do.

Best way I can figure to help you is to point you to who I consider a TradeStation pro @kevinkdog here on FIO.

Just for your info this is him on Amazon

https://www.amazon.com/dp/1118778987/ref=cm_sw_r_tw_dp_x_ZaKbFb585T0H4

I'm sure he can point you in the right direction at least. Here is his FIO profile where you can find his threads

Take care

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Blash for this post:
 
(login for full post details)
  #9 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,791 since Jul 2012
Thanks: 1,439 given, 5,380 received


Blash View Post
Best way I can figure to help you is to point you to who I consider a TradeStation pro @kevinkdog here on FIO.

Just for your info this is him on Amazon

https://www.amazon.com/dp/1118778987/ref=cm_sw_r_tw_dp_x_ZaKbFb585T0H4

I'm sure he can point you in the right direction at least. Here is his FIO profile where you can find his threads

Take care

Ron

Unfortunately, I'm not the right person for this. I have all my knowledge wrapped up in automated easy language codes, and sounds like OP is using order bar type orders, which is totally different.

I would recommend OP asks in the Tradestation forum if no answer here is given.

Follow me on Twitter Reply With Quote
The following 2 users say Thank You to kevinkdog for this post:
 
(login for full post details)
  #10 (permalink)
Kansas City, MO, United States
 
 
Posts: 6 since Jul 2020
Thanks: 1 given, 4 received



kevinkdog View Post
Unfortunately, I'm not the right person for this. I have all my knowledge wrapped up in automated easy language codes, and sounds like OP is using order bar type orders, which is totally different.

I would recommend OP asks in the Tradestation forum if no answer here is given.

How would you do it in EasyLanguage? I was actually going to figure that out myself as a next step as soon as I figured out how to do it the Trade Bar. Currently, I have a TradingApp I made placing an entry order with 2 OCO's attached to it (OSO): one that's -1R stop, +1R profit and the other is -1R stop, +2R profit. Those 5 trades go in together and work excellent. But I want it to move the -1R stop loss on the -1R/+2R bracket up to 0R as soon as that -1R/+1R bracket trades (i.e., as soon as the stock hits +1R).

Reply With Quote


futures io Trading Community Platforms and Indicators TradeStation > How to place an order where the stop loss price changes when a price is touched


July 22, 2020


Upcoming Webinars and Events
 

Getting Comfortable with Price Action Patterns w/Earn2Trade

Aug 4
 

Live Video Panel: Ask Me Anything w/Ironbeam Brokerage

Aug 6
     



Copyright © 2020 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