Is there trade management in Laser or Lightspeed

W

whitetanman

I am switching to IB, Genesis Laser, or Lightspeed. I've read many hours of ins and outs of all three.

IB with TWS or using button trader etc have ability to place a trade with an auto-stop, and let you scale in or scale out with some automation. Does Laser or Lightspeed have any way to do these things?

I need to fight my worse enemy (myself) so some trade management is essential as a backup to myself.
 
Quote from whitetanman:

I am switching to IB, Genesis Laser, or Lightspeed. I've read many hours of ins and outs of all three.

IB with TWS or using button trader etc have ability to place a trade with an auto-stop, and let you scale in or scale out with some automation. Does Laser or Lightspeed have any way to do these things?

I need to fight my worse enemy (myself) so some trade management is essential as a backup to myself.
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Laser has no "complex" orders/management like that; as far as I can tell.

Are you just scalping or swing? You could look into thinkorswim, if you're doing some swing trading.
 
I do both, but scalping pays the bills. I just would like to be able to have an emergency stop automatically entered with the trade. Sometimes you don't even get a chance.

I also manually calculate break even as I add shares, so it would be really nice to have the stop adjusted for it (+/- 20 cents).
 
I was going to write up a simple module for Laser that would have something very similar to that, but finding documentation for compiling modules is impossible to find.

However, you could still use Excel to hack up some sort of order entry along those lines if you really wanted to, I suppose.
 
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