Powerful Automatic Trade Creator

I

I$land

I trade on intraday bars and I usually use a BUY STOP-LMT order. I will set the price at 1 penny above the last candle's high and allow a range (the limit part of the LMT order) of a few cents. I will always send a STP loss order at the same time using IB's bracket order feature. The number of shares for the position is based on the maximum I am willing to lose (100$, 200$, etc.).

My problem is I often miss out on some trades because I can't build my order fast enough. By the time I'm done, the stock is way too far away from my desired entry point.

How do you guys deal with this problem ?

Is there a powerful trade creator program that could accomplish what I need ?

Cheers,

I$land
 
Quote from I$land:

I trade on intraday bars and I usually use a BUY STOP-LMT order. I will set the price at 1 penny above the last candle's high and allow a range (the limit part of the LMT order) of a few cents. I will always send a STP loss order at the same time using IB's bracket order feature. The number of shares for the position is based on the maximum I am willing to lose (100$, 200$, etc.).

My problem is I often miss out on some trades because I can't build my order fast enough. By the time I'm done, the stock is way too far away from my desired entry point.

How do you guys deal with this problem ?

Is there a powerful trade creator program that could accomplish what I need ?

Cheers,

I$land
More...

Who is your broker? and what software are you using? Do say internet exploer please.
 
Thank you for your interest Nidarian.

I use QuoteTracker & InvestorRT for my charting.

My broker is Interactive Brokers so I use TWS for order entry.
 
You must log in or register to reply here.
Back
Top