Hello, I would like to build the following to automate my Money Management after entering a trade. Lets pretend I place a Stop Order long /ES 1004, 2 contracts. I would like to automate the following. First contract, 16 tick stop loss (1000 stop loss price), profit target 10 ticks (1006.50). If entry price (1004) go up 5 ticks in my favor, I would like to move stop up by 5 ticks (1001.25). Second contract 16 tick stop loss (1000 stop loss price). If entry price (1004) tick 5 ticks in my favor, I would like to move stop up by 5 ticks (1001.25). If entry price (1004) go up 10 ticks in my favor, I would like to move stop to breakeven. Once at breakeven and price goes up 20 ticks, I would like to start trailing by 5 ticks for every 5 ticks the price move in my favor. Do this until the market stops me out. Is this possible with ThinkorSwim? If so, please help me setup. Thank you so much. I know NinjaTrader has Advanced Trade Management (ATM) order management technology that lets you pre-define personal trade management strategies including multiple profit targets and stop loss orders, one-cancels-other (OCO) orders, auto-breakeven stops, trailing stops and more. But not sure about TOS.
It is my understanding that you cannot use thinkscript to execute orders. Therefore, from my limited knowledge, it is not possible to do what you are describing. You are limited to the options in Active Trader.