I've been spoiled by TradingView's order entry system and have come to love their position sizer tool. If you're not familiar with it, it simply auto-sizes your position based on your stop-loss and the amount of risk you'd like to take as a percentage of account equity. Has anyone come across a similar tool that can be used in TWS?
That's nice ... I love to see for position sizing something even more complex and better in TWS. I'm new to IB, does it have strategy creation tool and testing?
I am using DAStrader with IB, the order-window is not what you want, but I have delegated everything to hotkeys. My buy-hotkey does this: 1. cancel previous stop-loss 2. buy shares for 5000 $ at Ask + 0.05 % (makes sense as shares have different prices) 3. create stop-loss for the now new whole position at 0.05 % above Bid (same) I could also use xx % of my account as a buy-price; My sell-longs hotkeys do this: 1. cancel previous stop-loss 2. sell 25 % of shares at Bid - 0.05 % 3. create stop-loss for the now new whole position at 0.05 % below Ask I could also use the average until-now buy-cost instead Bid - 0.05 % I am still simulating and have used TradingView until last week because it has a more refined Indikatorssystem than DAS. But I was always wondering why my trades sometimes looked so weired in the outcome. Then I made a screenrecording and noticed that prices vary between DAS and TV from second to second, sometimes up to 20 cent. TV was lagging behind up to 10 seconds sometimes. Andrew Aziz says DAS is also even faster in orders than IB itself. DAS is costly however. The basic version is 100 per month, if you want to trade options or want to have level 2, it's 150.