Support Board
Support Board
Search Board
Control Panel
View My Posts / Threads
Direct MessagesDate/Time: Mon, 16 Sep 2024 19:18:39 +0000
Trade Management with Multiple Contracts
View Count: 1488
| [2014-07-10 11:19:55] |
| User16114 - Posts: 153 |
|
This question is for SC but if anyone from the SC trading community has a suggestion please feel free to reply. Hopefully I'm missing a better way to quickly manage multiple lot trades with SC. With the SC DOM what is the best way to open a multiple contract position with single contract limits and have the flexibility to quickly exit the entire position at one limit price if desired and also be able to move this one price limit as a single group until desired exit is achieved? Option 1 (time consuming): Open a bracket order of 5 contracts with a stop for the entire position and 5 different 1 contract limits (easily done with SC "Use Attached Orders" enabled). Then if desired, to get out of entire position before all or any limits triggered, move limits to desired price one-by-one until filled. This works but is time consuming to manage because the original limit orders are all individual orders. A button in the trade window (as well as a keyboard shortcut to do the same) changing all limits to a single limit price then managed as a group would be much quicker. Option 2 (requires twice as much margin with broker): Open a bracket order of 5 contracts with a single stop and single limit for entire position. Then use "Support Scale-Out" to place 5 individual limit orders. This also works but requires margin for all working orders and you must remember to cancel all working orders after exit of original position size achieved. Is there a better way to quickly manage multiple contract trades and keep margin requirement down? |
| [2014-07-10 13:52:40] |
| User16114 - Posts: 153 |
|
Option 3 (had never tried this before post above): Open multiple contracts as in Option 1 above. Then disable "Use Attached Orders" without changing quantity and place limit order on same side as individual limits and when triggered all original orders cancelled. No need for anyone to reply unless you have a better way! Thanks! |
To post a message in this thread, you need to log in with your Sierra Chart account: