Support Board
Date/Time: Sun, 24 Nov 2024 20:05:22 +0000
Attached orders - Setting diverging quantities for stop and target
View Count: 220
| [2024-05-13 00:45:20] |
| AntoineOpala - Posts: 66 |
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My trade tracking spreadsheet tells me I should adjust my trade management. Instead of a full stop out, I should only leave half my position at -1R. I will then add back. I want to exit the entire position at +1R, taking into consideration the new average entry price. I'm trying to set this up via the "targets" tab. Let's take this example: Our main order quantity is 10. Our stoploss is $1 (= 100 ticks offset on the attached OCO stop order). Our target is $1 (=100 ticks offset on the attached OCO target order) As a result, this trade would lose us 10 dollars if the stock moved one dollar against us. It would earn us 10 dollars if the stock moved one dollar in our favor. So far, this is rather simple. I want to change the stop order's quantity so it becomes 5 shares instead of 10. Automatically, any change brought to the stop order's quantity is mirrored to the target order. They belong to the same OCO Group 1. Their quantity is strictly identical at all times and I would need to bypass that. I have tried splitting the process by adding one extra target order, one extra stop order to the equation. I've tried setting their quantities to 5. The whole thing is automatically readjusted so I can't step out of the line. Since I'm scalping, I can't afford entering a trade without attached orders then relying on manually placing a stop order of 5 shares. For safety reasons, it has to come preset. It can mean a severe loss otherwise, if the price suddenly rips against me before I ever get the time to place a manual stop. That would also lose a lot of flexibility, since the keyboard shortcuts for quickly moving attached stop and target orders would no longer be of use. Date Time Of Last Edit: 2024-05-13 00:55:42
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| [2024-05-13 16:26:14] |
| John - SC Support - Posts: 36238 |
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What we understand is that you want to have a parent order with a quantity of 10 and a Target with a quantity of 10, but then a Stop with a quantity of 5. If this is correct, then the only way to do this using the Attached Orders on the Trade Window would be to have 2 targets and 1 stop. Where each target has a quantity of 5 and the single stop has a quantity of 5. The Stop would be associated with a single target, that is it would have an OCO Group of 1. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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