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I am experimenting with a scalping strategy that requires a trade to be put on very quickly. I have been doing it manually, step by step, with good success but I can see where a faster entry would be an advantage.
I have poked through the various order placement tools but I am not finding, or at least not understanding, if there is one that functions like I want.
I am looking for a one button function that will place a market order for the number of contracts I have pre-selected and OSO a stop market at a number of points I have pre-selected.
There would need to be a buy button and a sell button to put on the appropriate trade.
Is this functionality available in the existing order placement tools? If not is it something that can be programmed?
Thanks!!!
Steve
I poked around the Matrix some more and figured out how to do the first part of what I want to do. Put a trade on with an OSO trailing stop at a pre set number of points.
I would like to also be able to have an OSO from a trailing stop at a pre set number of points.
Thanks!
Steve
Can you help answer these questions from other members on NexusFi?
I kept digging and found the functionality I was looking for.
The Trade Bar can be configured to put on a position and a stop with one button. I set the number of contracts in advance and the points offset for the stop. But you can only have a Trade Bar pre-set for one type of stop and I wanted to have a one button order macro for both a fixed stop and a trailing stop which I would use depending on current volatility. I opened a second Matrix window on my Desktop but it was cluttered and TradeStation changes focus each time you click in a different window which is clunky and defeated the purpose of having two Trade Bars pre-configured.
I opened second Desktop and in it opened two Matrix windows and configured the Trade Bars for the two stop types I want to have.
Now I have a tool to place a Buy Market or Sell Market that will OSO a Stop Market or Trailing Stop with one button.
It took some digging but I was able to find the functionality I wanted.
I am working on a new strategy that requires putting on a trade very quickly when I see the setup. Having the Trade Bar ready to put on a position and a stop by OSO was part of it. Sometimes I want a fixed stop and sometimes I want a trailing stop. I opened a second Matrices in a separate Desktop and sized them down to see only the Trade Bars. Now, with a single click, I can put on a position, buy or sell, fixed or trailing stop or any combination.
By the time I got the Trade Bars worked out the market was only open for another 2 hours, 22 minutes. According to the Trade Manager Analysis I took 1 long, 5 shorts with 4 winning trades for a total of 6.5 points (MES). Total time in the market, 1 minute. Longest period with no position was 1 hour, 12 minutes.
I will keep working on the strategy. Looks promising.
