CL Redux

Discussion in 'Journals' started by schizo, Oct 9, 2009.

  1. Thanks Picasso

    I understand the adjusted config better as a result.

    I am trying to config hot buttons and not hot keys, so I actually can get around some of booktrader`s pattent stuff, and or limitations---so that i can utilize the global configs with the touch of a button like on charttrader. i.e., click price establish order, then click button add bracket around order directly from booktrader.
     
    #13011     Nov 21, 2010
  2. btw... In IB there's the Bracket order feature, which allows you to set your oco entry price, each with its respective profit target and loss target. As a matter of fact, after setting these parameters, then you can enter the order modification, which automatically moves your stop target to b/e when the market moves to the designated target.

    Walt
     
    #13012     Nov 21, 2010
  3. NoDoji

    NoDoji

    The example you describe is something I've watched and then tested in my sim account as an additional trading strategy I plan to add at some point. I like the very tight stops you can get that way and also the fact that if the level holds price can really take off in your favor quickly.

    When I move my stop to b/e it's usually +1 to cover commission, but I occasionally place it at exactly break even and in a few instances that's been the 1-tick difference between a b/e stop out and remaining in what turns out to be a very profitable trade. It's easy to say, Oh well if I'm stopped out b/e I can always re-enter, but often price just jumps without you after that little pullback to shake out the traders who move their stops.

    I trail my stops and targets manually. Throughout the day I memorize previous S/R and price bar levels so that if I'm in a trade during a volatile move I can manage things directly off the DOM without looking back at the chart. As an example, if I'm in a short position with a price target of 15 ticks below a previous support level, I want to know each support level beyond that one as well, so if price comes in really fast to my target I can manage the trade without looking at the chart.

    Thanks, Picaso, for the detailed IB info! I will play around with those settings and see what treachery I can induce. :p
     
    #13013     Nov 21, 2010
  4. I cannot get the hotbuttons on bt to all be on the same key as the parent order, so the best solution for me, using beta platform, config hotbuttons on the bottom of chart for bracket, another for just stop, and a couple others that i use like trades, etc, and just move booktrader slightly up, so chart buttons appear at bottom of screen, and boom perfect integration between booktrader and chart, so i can literally click a buy, confirm in booktrader, and then pop on a stop or bracket order depending upon market dynamics from the chart button configs and they all have the same key, and can be canceled as a group, this is all i need, i am good to go from here with this setup.
     
    #13014     Nov 21, 2010
  5. Taking one off at 82.65 tonight if touched.


     
    #13015     Nov 21, 2010
  6. spd

    spd

    Is anything about IBs order platform easy? Everything seems so convoluted. Ive never used IB live, all my futures trades are executed through Ninja and I just use Fidelity for stock trades.
     
    #13016     Nov 21, 2010
  7. nt only works with the standalone platform, not an option for me.................fidelity active trader pro platform was nice, but no futures when i was there...............ib is complex, but if you can wade through some of the confusion it works fine.....and I actually like it better than tt or nt because I know how to get around its limitations, and it has certain advantages that I missed when I used other platforms---plus they keep trying to make improvements some are great, some not so great, but with trial and error i think they keep being cutting edge--they obviously have quite a staff working on these features as you can tell by the evolution of the betas each time out----like graphical price ranges, daily ranges for an instrument calculates each day, and line for your position on the chart for in the money to name a few.
     
    #13017     Nov 22, 2010
  8. 85.50 by wed close target.
     
    #13018     Nov 22, 2010
  9. spd

    spd

    Still no futures with Fidelity, just use them for equities and options, I use Mirus for futures. Many times though Ive been tempted to just move everything over to IB for simplicity sake, TWS has been the only thing that has changed my mind to date. Maybe I'll keep playing around with it.
     
    #13019     Nov 22, 2010
  10. EON Kid

    EON Kid

    maybe a run at Wednesdays low first ?
     
    #13020     Nov 22, 2010