closing positions across different instruments

Discussion in 'Risk Management' started by bigbigbird, Jun 8, 2010.

  1. Hello, my broker is IB and I am pair trading futures/ stock/forex.
    May I know how can I close all the positions automatically if the total profit/loss of the open positions exceed certain dollar amount? I can't find any order type which is capable, thx
  2. Bob111


    custom application?
  3. I don't know programming.
    do you know what's the cost effective way of doing it? :)
  4. Bob111


    it shouldn't be hard for pro. if you are with IB-there is a very active yahoo group -TWSAPI. plenty of programmers, you can ask them about the price. people do that all the time. or ask on IB website forum. again-if you with IB-you talk to Dav here,on ET. they may consider your request and add this feature in TWS.
    i was proposing something similar long time ago-alert\alarm\exit on single position PnL,portfolio PnL. ended up writing my own soft,but it's sorta semiautomatic. just a sound alarm based on PnL or % PnL, i'm making decisions about type of order,routing etc. and it's for stocks only