Hello,
I would like to build the following to automate my Money Management after entering a trade.
Lets pretend I place a Stop Order long /ES 1004, 2 contracts.
I would like to automate the following.
First contract, 16 tick stop loss (1000 stop loss price), profit target 10 ticks (1006.50). If entry price (1004) go up 5 ticks in my favor, I would like to move stop up by 5 ticks (1001.25).
Second contract 16 tick stop loss (1000 stop loss price). If entry price (1004) tick 5 ticks in my favor, I would like to move stop up by 5 ticks (1001.25). If entry price (1004) go up 10 ticks in my favor, I would like to move stop to breakeven. Once at breakeven and price goes up 20 ticks, I would like to start trailing by 5 ticks for every 5 ticks the price move in my favor. Do this until the market stops me out.
Is this possible with ThinkorSwim? If so, please help me setup. Thank you so much.
I know NinjaTrader has Advanced Trade Management (ATM) order management technology that lets you pre-define personal trade management strategies including multiple profit targets and stop loss orders, one-cancels-other (OCO) orders, auto-breakeven stops, trailing stops and more. But not sure about TOS.
I would like to build the following to automate my Money Management after entering a trade.
Lets pretend I place a Stop Order long /ES 1004, 2 contracts.
I would like to automate the following.
First contract, 16 tick stop loss (1000 stop loss price), profit target 10 ticks (1006.50). If entry price (1004) go up 5 ticks in my favor, I would like to move stop up by 5 ticks (1001.25).
Second contract 16 tick stop loss (1000 stop loss price). If entry price (1004) tick 5 ticks in my favor, I would like to move stop up by 5 ticks (1001.25). If entry price (1004) go up 10 ticks in my favor, I would like to move stop to breakeven. Once at breakeven and price goes up 20 ticks, I would like to start trailing by 5 ticks for every 5 ticks the price move in my favor. Do this until the market stops me out.
Is this possible with ThinkorSwim? If so, please help me setup. Thank you so much.
I know NinjaTrader has Advanced Trade Management (ATM) order management technology that lets you pre-define personal trade management strategies including multiple profit targets and stop loss orders, one-cancels-other (OCO) orders, auto-breakeven stops, trailing stops and more. But not sure about TOS.
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