Powerful Automatic Trade Creator

Discussion in 'Trading' started by I$land, Aug 15, 2007.

  1. I$land


    I trade on intraday bars and I usually use a BUY STOP-LMT order. I will set the price at 1 penny above the last candle's high and allow a range (the limit part of the LMT order) of a few cents. I will always send a STP loss order at the same time using IB's bracket order feature. The number of shares for the position is based on the maximum I am willing to lose (100$, 200$, etc.).

    My problem is I often miss out on some trades because I can't build my order fast enough. By the time I'm done, the stock is way too far away from my desired entry point.

    How do you guys deal with this problem ?

    Is there a powerful trade creator program that could accomplish what I need ?


  2. nidarian


    Who is your broker? and what software are you using? Do say internet exploer please.
  3. I$land


    Thank you for your interest Nidarian.

    I use QuoteTracker & InvestorRT for my charting.

    My broker is Interactive Brokers so I use TWS for order entry.
  4. I$land


    Anyone got a solution for this problem ?

    You guys just send MARKET orders all the time ?