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Date/Time: Wed, 29 Jun 2022 00:15:43 +0000



Scale in from twconfig file?

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[2022-05-17 14:25:15]
User993067 - Posts: 104
I trade manually using the DOM reading orderflow. There are times when I want to build a larger position at S/R levels in anticipation of a larger move. I would like to have a bracketed template (twconfig file ) that will not only adjust my stops, but scale in to my existing profitable position (a few ticks higher or lower on a buy or sell ENTRY STOP) and have the bracket order qtys update accordingly and still have manual scale in/out functionality as currently exists. I would like to control the risk by size (maintain close to same risk as initial risk AFTER scale entries are filled) Is this possible? with discretionary entry?
I do not wish to automate the initial entry criteria as with a spreadsheet system, just the additional scale in entry order and (initial targets as currently exists) and dynamic stop exits that are risk adjusted based on scale in size.

thx
[2022-05-17 15:24:12]
User993067 - Posts: 104
An idea for a quick workaround would be to have a max loss per position value added either in $ or tick equivalent, that auto adjusts after scaling in. this way I could just click ask or right click for additional stop entry and risk is auto adjusted. of course the internal SC calc would be lesser of max $ loss position loss or the bracket configuration in twconfig file.

Example: ES 12.50 per tick

existing twconfig file bracket exit is set to 1 lot and has 16 tick bracket stop and target. with offset triggered BE and trail adjustments. Upon adding additional lot to the position the stop is still 16 ticks...risk is doubled when scaling in.

same 16 tick bracket but a max loss per position of say $200 is enabled.. upon adding a second contract the stop adjusts to 8 ticks (from the avg entry)...risk is maintained.

same 16 tick bracket: but now max $ position loss set to 312.50:
if one lot the stop loss remains 16 ticks (twconfig risk is < max$loss), but after scaling in the max loss is reduced:
for 2 lots 12 ticks, 3 lots 8 ticks, 4 lots 6 ticks, 5 lots 5 ticks.


Intent is to try and automatically maintain close to initial position risk after scaling in

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