dynamic exit in excel

[Crispy]

Quote from syswizard:

I've got the OEC Excel docs....you are aware they do support STOP orders ?:
Here's an example of a stop limit:

=TEST1|send!’Buy_10_ESU7_StopLimit_1550_1600’_

This likely goes to the OEC Servers.
The other technique is to track the price locally and place a market order when your stop price is hit.

]

No, I was not aware. Nevertheless if you know how these trade, I would be 15 sell stop on some calls...she goes 15x15.5...then next actual print is 14 on a downswing. Stops are pretty much useless based on last sale.

Do you think the same excel link to OEC be used to track the price locally and shoot an order when my stop price becomes the bid?

 

[syswizard]

Quote from Crispy:

]

No, I was not aware. Nevertheless if you know how these trade, I would be 15 sell stop on some calls...she goes 15x15.5...then next actual print is 14 on a downswing. Stops are pretty much useless based on last sale.

Do you think the same excel link to OEC be used to track the price locally and shoot an order when my stop price becomes the bid?

Definitely doable. However, you are aware that locally, there is no stoplimit. If last print is 15.50 and you are sell stop 15, if it goes quickly to 13, that's your fill price.
Expect a lot of "slippage" like this. Whereas with Server or Exchange stops, you might be filled earlier like at 14 all depending on your position in the queue at that price level.
Got it ?

 

[Crispy]

Quote from syswizard:

Definitely doable. However, you are aware that locally, there is no stoplimit. If last print is 15.50 and you are sell stop 15, if it goes quickly to 13, that's your fill price.
Expect a lot of "slippage" like this. Whereas with Server or Exchange stops, you might be filled earlier like at 14 all depending on your position in the queue at that price level.
Got it ?

Yeah , got it..best to just tick F it and watch closely instead. Oh well it was worth a shot at saving my eyeballs from extra screen time.

Thanks for all replies!

 

[Rodney King]

If you're trying to manage an options book via stoploss orders, http://bit.ly/lwpXnD

 

[Crispy]

Quote from Rodney King:

If you're trying to manage an options book via stoploss orders, http://bit.ly/lwpXnD

LOL...nice pic

No book though....I day trade ES options. Thats all I trade in fact. My stops are always mental, thus the entire exchange about simply automating a bid hitting function when it goes my stop price.

My eyes just need a rest...lol

 

[syswizard]

Quote from Crispy:


No book though....I day trade ES options. Thats all I trade in fact.

How is this better than trading the futures ? Options tend to be less liquid and wider spreads, no ?

 

[Crispy]

Quote from syswizard:

How is this better than trading the futures ? Options tend to be less liquid and wider spreads, no ?

Not better, just slower paced. .50 delta ATM allows me wiggle room for certain setups.

Spreads are only 1/2 a buck typically to pay up, and usually can get them mid point or better as long as they are not trending too strong.

I will take the underlying sometimes, usually pre-mkt as the spreads are wider then.