E-mini traders....any advice
- Thread starter catman
- Start date
I use one cancels all (or other) everyday on futures. In TWS page layout, check OCA group on. Then on the order line, type anything (a letter, number, whatever) into that cell before you transmit the order. Type the same thing on the order (or orders) you want cancelled if it's hit, before you transmit them. Works perfect.
-JPB
-JPB
I use alot of Buy Stops to get long and Sell stops to get short. I have no slippage on my normal lot of 3 to 4 contracts on the es.
On J-Trader, you need to use a limits on that stop order but the contract is so liquid that .25 cents limit is fine.
I was a NYSE TRADER and really do not miss the $1 slippage on some of my stop orders during the volatile market periods.
MINI ES is KING.....look at Bonds. they trade in 1/32 and are active at times. I do not miss the Specialists at ALL. Trading along side the pit contracts is the market going forward............:eek:
On J-Trader, you need to use a limits on that stop order but the contract is so liquid that .25 cents limit is fine.
I was a NYSE TRADER and really do not miss the $1 slippage on some of my stop orders during the volatile market periods.
MINI ES is KING.....look at Bonds. they trade in 1/32 and are active at times. I do not miss the Specialists at ALL. Trading along side the pit contracts is the market going forward............:eek:
Quote from bobcathy1:
Enter a trailing stop when you place the buy/sell order. That should make it less stressful for you. IB has that capability.
Cathy,
My concern with a trailing stop, is if it doesn't get filled, how long will it take to cancel and re-submit new order.
What I have noticed trading equities with IB, is that order cancellation was not nearly as fast as TS or Cyber. It seems so far that the best approach for me would be to enter a market order in a fast market and be ready with a limit order in a slower market. I like the simplicity of that. I appreciate all responses and opinions.
set everything up with hotkeys. So now, in your example, let's say you buy and you want to enter a sell stop, but not if your buy isn't hit first...so you set up a hot key to buy (mkt, limit at bid or ask or last or last minus .25, whatever you like) then auto stop. So your sell stop will not be working until your buy is filled. And you can cancel or modify the sell stop at any time without affecting the buy order. And..if you cancel the buy (either before or after you transmit it) it will automatically cancel the coupled stop.
You'll see, it's much easier to do it than it is to explain it.
I use hotkeys for everything. I use them to change size and price, I've got one set up for every type of situation I usually trade, and some I never trade.
Problem is, I set so many up and keep changing them, I never know what is going to happen when I hit one.
Like there is one in there, how'd it get in there? sell limit last plus 4.00. Man, that must have been from back in my good days.
thanks JPB, yeah, thats really nice. Now maybe a guy can get a little sleep once in a while.
Yeah, I'll have to second that thanks JPB. That's a really nice one to know. I won't have to freak out if my connection goes down. Plus, I can walk away from the monitor when I'm in a trade and pretend I don't care (yeah right). I think I have to agree with profitseer though as to the most important point: catnaps.
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FYI, if not clear from one of the earlier posts OCA works with IB futures and with release 783 there is a bracket order function:
Create bracket orders
TWS lets you create bracket orders for buy and sell limit orders. This order type brackets a buy limit order with two automatic sell stop orders; one on the lower side to limit your losses, and one on the high side to initiate a sell order when the share price reaches your desired sell price.
If you set it your defaults with hot keys it is very easy and fast to enter.
Create bracket orders
TWS lets you create bracket orders for buy and sell limit orders. This order type brackets a buy limit order with two automatic sell stop orders; one on the lower side to limit your losses, and one on the high side to initiate a sell order when the share price reaches your desired sell price.
If you set it your defaults with hot keys it is very easy and fast to enter.