If only Ninja would make some slight adjustments for swing traders. The DOM is unfortunately too difficult to enter 3 targets on when the targets are a LONG way from the present price. The only option is to scroll the mouse for 30 minutes to try and find where to place the order! A simple option to enter actual prices would make NT awesome for swing trading. Similarly, some FX spreads are so wide that the DOM is hard to use, this should be looked into also. NT, which is great for futures, would then be great for FX and Stocks too : )
Hi IB AN, Again, thanks for the answer. I note the individual above mentions this order can't be modified. I've also tried to follow the above and have also noted that while it seems I can make modifications to the profit targets and increment in TWS Classic, the changes are not reflected on the chart trader, nor are they modifiable on chart trader. When I change the order in Classic, is the order INDEED changing, even though not reflected on chart trader? If so, isn't this a bug in chart trader that should be fixed?
Unfortunately the bug is still there - so my optimism about this useful thread has been dashed. I have previously found Button Trader to be a decent interface for trading IB as amongst other things, it allows you to concertina the price ladder. But there is a monthly charge, so I'll head back to using Multicharts for now
That was great info. Thank you. Is it possible to get scale trader like an algo order accumulate distribute for inclusion in auto trade code ?
Seems that orders can be changed right up until they are executed. The quick and dirty way to set split/scaled target or stop orders is to place TWO entry orders with attached brackets. Just hit your hotkey twice. Bam Bam. Move the target and stop loss orders as you see fit by clicking and dragging on the chart. Or type the desired values in the Orders window. My preset is 1% below parent order for stop loss, and 3% above it, for target. So I first worry about getting my entry in, then I move the bracket orders on the chart to suit me. I don't like to diddle around when I see an entry. I get on the board quick, then scoot my stop to where I want it ASAP, and take my time adjusting target. <EDIT> I should add that I use Mosaic and the Chart Trader window. I set up multiple instances of that window, one for each stock on my watch list.
I got from IB-AN's suggestions how to convert a stop-limit order into scale out order. I applied your hot key suggestion. I mixed them and now by pressing hotkey only once, I am able to place buy (Limit/stop-limit) order for total quantity, attach scale-out order with initial component size, subsequent size and price increment and a single stop-loss orders. Thank you. I was looking for help regarding coding the scale trader, like the algo order accumulate distribute, for auto-trading (in C++)!!
On the Edit menu select Global Configuration. In the left pane select Hotkeys. Select Buy (or Sell) as the Action and click Create Shortcut. Click the Customize tab. Enter action, absolute quantity, order type details on the left side On the right side Enter the scale field values viz., Initial Component Size, Subsequent Comp Size, Price Increment .....as per your settings... See the screenshot...first exit takes place at 2.0 points increment, subsequent orders are incremented by 1.5 points from the previous one (so it will be at 2.0 + 1.5 = 3.5, etc) If you do not enter any details in target order fields, the first scale out will be at "price increment" from the buy price (1.5) and subsequent scale out will be at 1.5+1.5 = 3.0 like that Record short cut key of your choice and do remaining settings as per your requirement...see also https://www.interactivebrokers.co.i...uretws/hotkeys.htm#XREF_39191_To_create_a_Buy
Thank you so much! Thank you so much, just use chart trader so hotkey would be even faster,thank you!
This is an extremely useful method which I have been using for some time. I have just one question. To 'scale-out' of Options positions, is the Price Increment part relative to the Option price, or underlying Ticker price? Thanks!