Hi Jerry. Finally got Ameritrade to remove the advanced features so I could use the conditional orders inside MedVed Traders. I was quite ecstatic to see it show up this morning when I launched MT. However, the excite quickly dissipated as I tried to make heads and tails. The first jarring thing is that switching to any conditional order takes away the buy/sell/short/cover buttons I have become accustomed to.
Next, while hovering over each of the OTA/ OTOCA, etc... tells me what type of conditional order each tab represents, it kinda stops there. At that point, I have zero idea on whether I should use same, Reverse for actions etc... I am not sure what my expectations were but I am pretty sure this isn't what I had expected. I am almost embarrassed to say that ThinkorSwim makes it easier especially since I prefer to scale out of trades using predefined 2:1 or better rewards-to-risk ratios.
Is it possible to maybe add another tab that could allow those of who scale out of trades to define our stop loss and then input our preferred ratios for reward to risk (i.e. mine are 1st target 2:1. 2nd target 3:1 and 3rd target is my lotto shares at 6:1 or better)? I have added a screenshot from TOS of how I have it set up now and also how I have save various order templates based on where I have to set my stop losses.
Also another style I trade when I am not using defined RR targets is sometimes if I feel a trade can exceed these targets, I may open a position and sell off half and then raise my stop to Buy price and essentially make it a free trade. Perhaps I have overlooked the correct way or I am doing it wrong, but the process I follow now is 1/2 my position, sell market then I have to reset my stop limit. Is it possible to program MT that upon selling a partial position that we can automatically move our stop loss to our Buy price or Buy price + $.01? The reason I ask is because when I used DAS Trader Pro last year, I was able to configure Keyboard shortcuts and buttons that would accomplish this very task.
My overall goal is to minimize the amount of clicks and/or keystrokes that allows me to get into a trade more quickly and take profits just as quickly as I need to. if we were able to have the ability to add hotkeys/shortcuts and have the ability to turn them into buttons like DAS Trader pro, it would make MT even more valuable to me.
Also, if you have some free time, could you make some tutorials that actually break down each OTA, OTOCA, OTOTA, OTT actually do and maybe provide some examples in which scenarios they should be used?
Sorry to be a pain in the ass but I am trying really hard to minimize any reason to ever fire up the RAM and resource hog that is TOS ever again. Any help at this point would be greatly appreciated.