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Direct MessagesDate/Time: Tue, 07 May 2024 22:00:45 +0000
Post From: Order Management questions + Commands guide + Customize Buttons DOM
| [2020-11-16 10:37:52] |
| MuUs! - Posts: 45 |
|
Dear Sierra, I need your help for setting up the Tradig DOM interface to fit my trading needs. I would like to change the buttons into the Trading DOM These are the buttons that I would like to have in addition to the ones already present. - Buy Limit at Best Ask - #offset - Sell Limit at best Bid + #offset #offset is a parameter that determines the number of units from the current market price. For FOrex it should be pipettes so 1/10th of a pip. Also I would like to understand if Sierra Chart does offer the following functionality. I am using another software for my trading which allows me to set an Automatic stop loss a certain number of points (#offset Stop Loss) below the execution price (for Long positions) or above market price (for Short positions). However it is a particular type of Stop loss. Basically the level of the stop loss order is determined based on the execution price of the order which first establishes the position and changes the "Fla" status to either "Long" or "Short"; this is because I trade like an HFT basically, sending multiple very small size orders in a matter of 1,2 seconds manually: this means that if for example I want to get an exposure of Long 100k, my strategy is to send 100 separated orders of 1k each). This means that often (like for very volatile instruments like Forex or Crypto) I will get filled at different prices for these orders, and my final price will be an average of the 100 orders I sent. So the way the Stop loss works in this example is that the very first executed order which changes my exposure from 0 to Long 1k is the price from whcih the Stop Loss is calculated( entry price of the order that changes the position from "Flat" to "Long" - #Offset Stop Loss); all the other Buy orders that change the position size and that are executed at different price levels do not set any additional stop loss but cause the original stop loss (based on the entry price of the very 1st order) to change in size so that it reflects always the new exposure. Let me explain with an example. Assume I have the parameter #Offset Stop loss = 70 and I am trading EURUSD. I am "Flat" and I want to get Long "100k": my strategy will be to send 100 separated buy orders 1k each. I send the first order and I get filled at 1.18612; the instant the order is filled a stop loss 70 pipettes below market is set (price level = 1.18612 - 0.0007 = 1.18542, size = current exposure 1k) This is the first order that gets filled that changes my position from "Flat" to "Long" and this is the only one that determines the price level of the Stop loss. I send another 1k buy order and I get filled at 1.18608. Now, no stop order will be sent to market but what will change is the size of the origianl stop Loss which will change from 1k to 2k (the stop loss level will not change from 1.18542 but the size will always be equal to the total overall exposure as the position side Long or Short will not change and new orders will be executed). The logic works for take profits as well. If I am long 100k and I want to sell 30k but still being Long, once I sell 30k and my overall exposure decreases from Long 100k to Long 70k, the Stop Loss size will change from 100k to 70k. The logic works also for intermediate stop loss orders. If I am Long 100k and I want to set an intermediate stop loss of 20k between current market price and the level of the original Stop loss, if the intermediate stop loss gets triggered and the overall size decreases from 100k to 80k, the originals stop loss size will adjust to 80k. Another button I would like to set is a Profit target for Long position and a Profit target for Short position The former send a Limit order above price , while the latter sends a limit order Below price. I apologise if the message is quite long but I want to make sure I was detailed enough. Thanks for the support, I look forward to be hearing from you soon. Kind regards, Rokan_G |