hotkey automated stop

[aki108]

Hi,

Strange things happen.

First, I have to set a minus-mark at the share-settings so it puts the stop below bid instead of above ask in a long position (see pic), I could live with that.

But second, once I use the hotkey and click on send, a sign pops up "main order cancelled", and then the stoploss vanishes.

any idea, I'm grateful.

 

[aki108]

PS I think I have no security limits that would hinder it's execution

 

[HobbyTrading]

Are you trying to set up a bracket order around an already existing position? Or do you want to use it in combination with an opening order?

 

[aki108]

I want to set up a bracket order around an already existing position, because I always add in and scale out of positions.

If I combine stops with buy/sell-orders, I end up with three or four different stops, and that's confusing.

So I set up one around to the first entry, and then modify it after each additional entry or exit; at least that's the plan.

I wish they had the same elaborate system as the DAStrader platform, in which I can configure a buy-key in a way that it first cancels open stops, then buys, and then sets a stop for the new whole position.

What I also miss is the option to buy/sell at a certain $-amount instead of number of shares (I know it's available in direct orders, but not in hotkeys), and the option to buy/sell/ at % of the position, and to set stops at % of the price;

All this is available in DAS, which I use as an intermediate to trade with IB for US-stocks, but DAS doesn't have Europe.

thanks for answering!

 

[HobbyTrading]

I am not familiar with the classic menu, more with mosaic. In mosaic is it easy to add a bracket order when you open a new position. The order to open a position is then considered the "parent order" and the two sides of the bracket are then the "child orders". The software understands that the child orders must become active only when the parent order gets filled (not before that time). You could use very wide stops initially, and adjust the limit prices (stoploss, profit taker) later. However, the steps you need to take are different if you want to create a OCO order for an already open position. In that case is there no "parent order" and thus does it not properly understand how to handle the two "child orders".

I think that IB recently added the possibility to open a value-based position size instead of a quantity-based position size. Again, that seems available in mosaic, I don't know if it is also available in the classic menu. I haven't tried it myself though.

 

[aki108]

thanks for your reply.

yes, they added amount-based position size, but not as hotkeys