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For both puts and calls, if you buy them (=you’re long), you can't lose more than what you paid. Just close them before expiry (see above comment) In your scenario, do consider volatility. When volatility is high, buying options becomes more expensive. Take a hard look at your break-even: it's...

Yes, conditional order on IB can do that. Kind of a pain to access, interface-wise. You'll set a trigger, and it sets whatever type (stop, limit, trailing) below once the limit is reached.

Did you shut down the API? I've had it happen where I'd cancel an order manually that was sent from algo via API, and the algo immediately resent it.

TIL that banks give out personal loans for speculation, post-2008.

That's going to be tough to establish without a lot of really good data. Consider the fact that 2 cents of extra slippage on a 100 share lot costs you 200% of what commission would have been. 1 extra tick slippage on 20+ ES trades will eat up all the commission you'd have paid on the Pro...

Exactly. I trade some instruments with tight stop losses, and others with much wider risk management. The former clearly underperformed this week, because winners that could have been managed in normal conditions were taken out within seconds.

UAL has been a lot less choppy than I would have expected. Nice to trade if you trade momentum.

I'm not a fundamentals trader, but I'd be weary of BA, or any company with a lot of debt. Don't know where COVID's taking us, but a lot of corporate debt in times of high uncertainty makes me uncomfortable.

I've been trading UAL and MSFT a lot this past week, profitably. My advice? Don't hold overnight; trade short momentum swings; take profit where you can and don't beat yourself up for getting out too early (I got out of a short-term MSFT play with some profit a few minutes before closing today...

Ok, boomer.

It's a temporary level based on how data gets loaded and how the visualization is made. Nothing's leveling off.

I wanted to get the pulse of this community about something I've been considering. For those of you who trade two very different styles -- in my case, short-term algo-driven trading, and mid-term (3-6 weeks) news-driven trades -- do you use multiple accounts? Or are you running everything...

If you'd be mad about losing $300 (but are ok losing $200), stay at $200. Every risk management strategy will miss some trades that could have been winners.

I do a 50% hard stop at a target and 50% trailing stop for my manual trading -- it takes a lot of mental energy out of managing a winning trade. But I found it almost impossible to backtest trailing stops for my algorithmic trading, and had to move away from them.

I use chartvps with IB. Completely seamless experience, their datacenters are near exchanges, and good customer service. Probably a bit pricier than spinning up your own AWS or DigitalOcean, but I'm ok paying for the convenience.

Just jumping in to say that this is a great thread. I recently went live with my first automated/algo strategy (after much paper trading, backtesting, and even more testing the backtesting), and it's been fun -- and so far, profitable -- process. You learn a different facet of how markets work...

Do smart routing for a month, then route to NASDAQ (or wherever) directly for a month. Compare results. It's imperfect, but there is no perfect way to compare.

"local" =/= "data farm". Data farms were fine this morning, and OP's issue could not have been related to a data farm (reread their original message).

Again, your $ risk is in gap up (your buy stop gets filled at $860, e.g) or quick gap down after you’ve already purchased the shares (TSLA inches against you, your buy stop triggers at $830 as intended, then drops overnight to 700). It’s TSLA — the reason you’re getting that kind of premium on...

It’s up. Must be a local issue. I can’t see IB — a large public company — not sending out some form of notification if they had a system-wide outage.