Tradestation 7 matrix/order/trailing stop/strategy question

Discussion in 'Trading Software' started by mc_sunw, Feb 7, 2004.

  1. mc_sunw



    I'm thinking about switching to Tradestation 7. I've had a read through the website and have a couple of questions which I mailed Tradestation about but they've been unresponsive. No doubt you Tradestation gurus will know.....

    So, my questions are related to the matrix order screen and placing orders with a trailing stop.

    What I want to do is place an order via the matrix and when it is executed have a trailing stop loss automatically placed. I don't want to have to manually do this, I want to be able to place the trade and move on to look for the next opportunity and if the trade gets executed know that the trailing stop loss will have been applied. Is this possible?

    Also, is it possible to write up some kind of exit strategy in EasyLanguage and have that applied to a trade which has been manually placed via the matrix? I don't want to automate the entry to the trade as it is discretionary, but I would like to implement an automated exit strategy. Is this possible?

    Finally, I've been reading through the EasyLanguage manual and it makes reference to the fact that orders are sent at the close of the current bar or at the open of the next bar. Does this mean that it is impossible to send an order within the current bar?

    Many thanks,

  2. chessman

    chessman Guest

    Trailing stops and exits are applied as a strategy to a chart, so entry can be discretionary, then you just apply whatever stop or exit strategy you would like.

    TS has about 15 built-in stops and exits, they can be applied to a chart with one click or you can write your own.

    I believe you're correct TS cannot evaluate the current bar, other than placing a mkt order at the close of bar.