Florida
Experience: Beginner
Platform: Ninja
Broker: IB
Trading: GC
Posts: 9 since Jan 2010
Thanks Given: 2
Thanks Received: 3
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Hi All,
I am trying to develop an order management strategy that goes a little bit further than stop/target profit.
What I am trying to do would be something like this:
Order Entry - could be any order, sell @ bid, buy @ ask, market and so forth. Preferably from Ninja´s chart trader
Once the order is in, we get a predetermined stop and a profit target along with a free ride trade
Stop is hit, order executes @market.
Profit Target hits, we Limit Execute at Target
The above is very basic, below is what I am trying to get done
At Limit Execution we get another order in with a pre-determined tight trailing stop.
This new order does not carry a profit target, only a tight trailing stop.
All of this from 1 button click.
To exemplify what I just said.
I go short GC @ 1095.40 (Stop @1096.40, Target @1091.40)
Bla, bla bla, GC Drops to 1091.40, take profit
System shorts another contract with a trailing stop of 0.5-1 points.
Market continues to tumble and I am in.
Market reverses either my order does not fill or I lose the trailing points
Something like that.
I saw this strategy on Buttontrader and found it awesome.
Thanks all in advance for any help, links and pointers.
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