hi,DAV,
there is one feature we daytrader really need is to one click mouse to send an bracket order which has different stop and target on booktrade, for example, YM, one click to buy with -10 to be stop and +20 to be target. the way booktrade works now is awkward for us:
1. I know we can create shortcut to do this, we can specify stop and target in shortcut configuration, but since stop and target is different for different contracts, we have to create different shortcuts for everyone, for example, for YM, stop can be -10, target is +20, for ES, stop can be -1.5, target is +2.5, for ER2, stop can be -1.5, target can be 3, etc. considering there are always buy side and sell side, the shortcuts can be too many to remember, besides it can be challenge to hit correct shortcut when market is moving fast,
.
2. config mouse action to do this, but the same mouse configuaration only works for that contract, for example, left click on bid size to send buy bracket order with stop -10, target +20, this will only work for YM, but stop is too bid for other contracts, i.e ER2. and mouse action is limited.
3. use order defaults configuaration in TWS configuaration. under FUT, add contracts I will traded, config the default stop and trailing, now TWS can only config default offset amount for stop and trailing, if user enter a bracket order with default setting, stop amount is used for both target price and stop price, but usually we want to have ratio > 1:1, for example, if trading YM, we want stop 10 points below, but target limited price to be 20 above. this is very useful when using booktrader to quickly enter order. please add a target limit price in default order offset amount.
I use method 3, and manually change target everytime when order is filled, this can be very time consuming and won't work when market is moving fast, by the time I want to change target, it already past my target etc. so please consider adding default target offset in order defaults configuaration.
and for bracket order to work with stock with wide range of price (i.e , $1 stock to $500 stock), set amount offset is not practical, for example, $1 offset is too big for 1$ stock, but too small for $500 stock, please add an option to choose percentage as default offset amount., for example, stop is 3% below, and target is 5% above
thanks a million time
jet
there is one feature we daytrader really need is to one click mouse to send an bracket order which has different stop and target on booktrade, for example, YM, one click to buy with -10 to be stop and +20 to be target. the way booktrade works now is awkward for us:
1. I know we can create shortcut to do this, we can specify stop and target in shortcut configuration, but since stop and target is different for different contracts, we have to create different shortcuts for everyone, for example, for YM, stop can be -10, target is +20, for ES, stop can be -1.5, target is +2.5, for ER2, stop can be -1.5, target can be 3, etc. considering there are always buy side and sell side, the shortcuts can be too many to remember, besides it can be challenge to hit correct shortcut when market is moving fast,
.2. config mouse action to do this, but the same mouse configuaration only works for that contract, for example, left click on bid size to send buy bracket order with stop -10, target +20, this will only work for YM, but stop is too bid for other contracts, i.e ER2. and mouse action is limited.
3. use order defaults configuaration in TWS configuaration. under FUT, add contracts I will traded, config the default stop and trailing, now TWS can only config default offset amount for stop and trailing, if user enter a bracket order with default setting, stop amount is used for both target price and stop price, but usually we want to have ratio > 1:1, for example, if trading YM, we want stop 10 points below, but target limited price to be 20 above. this is very useful when using booktrader to quickly enter order. please add a target limit price in default order offset amount.
I use method 3, and manually change target everytime when order is filled, this can be very time consuming and won't work when market is moving fast, by the time I want to change target, it already past my target etc. so please consider adding default target offset in order defaults configuaration.
and for bracket order to work with stock with wide range of price (i.e , $1 stock to $500 stock), set amount offset is not practical, for example, $1 offset is too big for 1$ stock, but too small for $500 stock, please add an option to choose percentage as default offset amount., for example, stop is 3% below, and target is 5% above
thanks a million time
jet