I run a day trading strategy using stocks. After a position is entered a stop and a limit order is generated for the exit. The problem is since TS brokerage does not allow two open exit orders for one current position only one of my orders gets entered in the trade server. Surely there must be a way around this without switching to IB (I would if I could automate my strategy with them in a simple way).
So are you saying that TS will not allow you to program a strategy in which a stop can be generated from multiple conditions being met, entering the order from whichever is met first? Ex. (Sell at break of 15 min low or $0.50 cents below entry price. Whichever comes first. ) Hope im being clear enough for you
You can program that fine, the problem comes with implementing it in the actual trading account. TS brokerage does not allow you to enter more sell orders that you have open shares. So if my strategy gets me long 1000 shs of DELL and my strategy enters a stop at 22.15 and a profit take at 23.41, one of these orders will be rejected by the trade server. Hope I am wrong, but this was my experience today as I went live my strategy.