i am trying to configure booktrader so that with just a click of the mouse i can instantly send a lmt order to initiate a buy/sell with a stop attached that will automatically cancel when i manually close the postion with the very same click of the mouse. so, since i want to use the same shortcut to close the postition, the stop order not only doesn't automatically cancel but another stop order for the closing trade is also automatically created. is there any way to get around it? in any case, even if i wanted to use different shortcuts for the two actions, i still found no explanation as of how to set up oca orders on booktrader. if anyone knows about it and can lend us a hand i would be grateful. cheers.
Bitstream, No offense meant, but your question is not clear: too many compound statements/ideas. Just what is it that are you trying to accomplish? Please break it down: one step at a time. No computer program could execute your fuzzy thinking. http://www.interactivebrokers.com/en/trading/orders/oca.php I hope this helps. Tom
I don't use book trader but I think your manual exit order will have to have the OCA group name. Meaning you would have to go in the order window and fill that out, which would be cumbersome if your scalping. I think what you'll have to do is either have a hot key that attaches a stop to your entry order then manually cancel the stop after you exit. Or have a hot key that attaches both an exit and a stop order to your entry order. Then simply adjust the limit exit order as you like until it's filled at which time the stop would cancel automatically. I could be wrong but I don't think you can do what your asking, unless you add the OCA group name to the manual exit order as I mentioned earlier.
ok lemme try again. i want to create a shortcut to send an order with a stop attached trough booktrader, and the stop order to automatically cancel if i close the trade manually. prob is that i cant find the instructions on tws guide to accomplish this on booktrader. also if possible, i wanted to use the same hotkey [simple click of the mouse] for both actions: initiate and close the postion.
that's what i was thinking after i read oca section in the guide. there's no reference to booktrader configuration. thx for the suggestions.
How about a bracket order? If you close the position with the non-stop side, then the stop order will be cancelled, because the stop and non-stop orders are parts of a OCA.
yeah that's a good option, thx. hmnm...just tried and both lmt-tgt and stop orders are still working after i manually close the trade
I think you have to "manually" close the trade by adjusting the lmt-tgt order, then hit transmit. That should get the stop to cancel when your lmt-tgt order is filled.