Trading ES, all I want to do is place a market order with a stop market a predefined distance from the fill, without regard to direction(long or short). MBT offers a limit + stop market, but it would take to long to implement. I thought I could do it with a market + TTO, until I realized that you can only set upper and lower parameters, rather than target and stop parameters. This means you would have to reset the upper and lower values every time you changed directions, again something a scalper does not have the time to do. I need to be able to enter a position with one click, exit with a second. Thanks. Alan
Hi, Experiencing the same problem right now. that i suggest you is to Try Ninja Trader (it does work with MB) they have a very nice Chart trader feature that allows you to put very complexed orders with one click only. download the demo and check it out.
Well I'll be. A thread where somebody actually helps somebody else without all the typical sarcastic bullshit opinions, and smartass "I'm better than you" horseshit. Congratulations to both of you. Seriously.
which brokers offer a limit + stop limit combo order? as in, it places a limit order which upon being filled places 2 stop limit orders(1 for your stop, 1 for your target)?
I just ran across another solution to this problem as well... MBTrading has what they call an SDK, or software developer's kit. If you have programming skills you should be able to configure order entries and other trade management strategies, easily overcoming problems like the one I posted here.
Ummm, you *can* do anything with their SDK but I would not use the word "easily". Since they don't give you the source code to their platform, if you want to reproduce their Navigator with the addition of a few custom features that you add you basically have to re-invent the wheel (re-code the navigator from scratch) And in case you are thinking you will write a fast and dirty order-entry-only app and use that app with the navigator to manage/monitor your trades (so you don't have to re-invent all the features already in the navigator) - no go on that plan. They don't let you run more then one app concurrently with your login, so its either the navigator or your sdk-developed app, not both at once.
They don't have OCO order? I use the Global Strategy Trader platform and I can enter a trade, which places an OCO. After that I can hit the "trade out" button and the OCO will be cancelled and I'll exit at the market or I can hit the reverse button but I would have to cancel the OCO manually but it's only 1 click. Is this what you are trying to do?
This is what I need to be able to do. It seems simple enough, and the TTO almost gets it done, but not quite. A couple of simple changes and the problem would be solved. I hadn't even thought of what happened after I was in the position, as I couldn't get that far. I would think(hope) that stops would automatically be canceled when the position is closed. It sounds like Ninja Trader should be able to handle it.