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Date/Time: Sat, 13 Apr 2024 09:56:16 +0000



Scaling | Support for Adding TP 1 with existing position

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[2024-04-03 17:32:17]
AC7303484 - Posts: 23
Sierra Team,

If I have a 5 lot bracket that has has 2 targets, lets say first target takes 3 lots at 20ticks and the remaining 2 lots at 60 ticks.

In this scenario if my first OCO bracket is taken and I then enter more to the original trade I am left all of the take profits to the 60 tick target (Target 2 from original entry)

Would it be possible such that when an existing position is added that the TP1 or (OCO1) is re-entered based on my configuration.

Currently:

Enter 5 Lot Trade
Target 1 (OCO1) is 3 Lots
Target 2 (OCO2) is 2 lots

If Target 1 is taken I am left with 2 lots at OCO2 which is expected.

Now in the same sequence I add another 5 lots for a total of 7 lots, currently ALL 7 lots get added to OCO2, would it be possible to support OCO1 getting "re added" in this scenario such that I would end up with 3 lots at OCO1 and 4 lots at OCO2?

Thanks!
[2024-04-03 20:37:30]
John - SC Support - Posts: 30833
There is a way to re-add Target1, but then you will not add to Target2, but rather create a new target (Target3) at 60 ticks from the new average price. To do this, you would turn OFF Scale In. You would also have a new Stop created at a different level as well.

You could then move Target3 and/or Stop2 that gets created to the same levels as the desired Target/Stop. Or you could use the "Trade Management by Study" study to move these for you (but you would need to have another study that sets that level to do this).

For exactly what you are wanting, you would have to create a Custom Study. Refer to the following:
Automated Trading From an Advanced Custom Study

List of Third Party Sierra Chart Study and System Programmers
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
Date Time Of Last Edit: 2024-04-03 20:37:59

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