Attach stop loss order to hotkey

[3acor]

Hey,

Is there a way to attach a stop order when sending an order using hotkeys?

For example, I place a trade on the chart using hotkeys to buy 100 shares.
I would like the hotkey to automatically attach a stop loss order of 100 shares that I myself place and send it on the chart.

 

Thanks !

[Mike Medved]

If you place the order USING the hotkey, you can place another order (or 10 other orders) in the same hotkey.

[Jerry Medved]

ahmm, to clarify - you would want to have the hotkey place a OTA conditional order, not just 2 orders. for example BUY 100 of XYZ at LIMIT of 20.34  and and OTA (One Triggers Another) SELL 100 of XYZ STOP MARKET of 19.90

[3acor]

Sorry maybe I didn't clarify properly.

I meant that in the hotkey, I place an order to buy 100 shares of XYZ at a limit price of Ask+0.1. 
What I do after is that I press F3 on the chart, which I set it in a way that when pressing F3, I drop a stop order on the chart which I then chose which price I want. 

Could it be possible that in the hotkey, on top of sending an order of buying 100 shares of XYZ at a limit price of Ask+0.1, I can attach a stop order(without it being sent, just being dropped on the chart) of 100 shares which I then send it by clicking a price of my desire on the chart, instead of having to press F3?

[Jerry Medved]

Oh sure. here is the code (you can copy/paste it into MT:

{
  "PreHotkey": false,
  "UniqueID": "UATTPX0RAKYQKTCHYNTDVA==",
  "ShortDesc": "Limit+drop Stop",
  "ButtonText": "L+DropStop",
  "ButtonColor": "147, 255, 153",
  "LongDesc": "",
  "Enabled": true,
  "IsSavedOrder": true,
  "ActiveWinType": 63,
  "JSON": {
    "Command": [
      {
        "Disabled": false,
        "Order": {
          "Drop": "false",
          "Send": "true",
          "ConditionalType": "None",
          "Legs": [
            {
              "OrderType": "Limit",
              "Action": "Buy",
              "Quantity": "100",
              "LimitPrice": "Ask+ 0.01"
            }
          ]
        }
      },
      {
        "Disabled": false,
        "Order": {
          "Drop": "true",
          "Send": "false",
          "ConditionalType": "None",
          "Legs": [
            {
              "OrderType": "StopMarket",
              "Quantity": "100",
              "Action": "Sell"
            }
          ]
        }
      }
    ]
  },
  "LastUpdatedTicks": 0,
  "NumOrders": 2
}

OR Visually it is:

[3acor]

Thanks a lot ! I appreciate it

[3acor]

Is there a way to automatically attach the stop loss order a certain percentage from the current market price and have the stop loss order be above the market price if I am Short and below the market price if I am Long?

[Jerry Medved]

sure. the action field can be an expression.  you can do stuff like Pos<0 ? "Buy" : "Sell"

similar stuff for price - can add or subtract the offset from the bid or ask depending on POS being < or > 0.

[3acor]

Sorry could you tell me what the code in the expression should be?

[Jerry Medved]

lets say you want the stop order 5 cents above the ask or below the bid depending on direction. you can set it to be 
Pos < 0 ? Ask + 0.05 : Bid - 0.05

So if you are Short, position will be less than zero, so the stop will be Ask+0.05.  

if you are Long, position will be greater than zero, so the stop will be Bid-0.05.  

[3acor]

and if I want it in percentage? Is it like Pos < 0 ? Ask + 0.1% : Bid - 0.1%

[Jerry Medved]

0.1% is not a valid thing. You can just multiply... so Ask*1.001 or Bid * 0.999

[3acor]

I am getting this

 

[Jerry Medved]

use of POS and PosAbs would require for the hotkey to be hit after you are in a position.

If you want it to be combined with the entry, you would have to do a OTA order so the logic would be different. The Quantity would be the same for both orders and you would just set the price to be the offset.  But in that situation you would know if you are going short or long - would not have to code for it, no?

 

[3acor]

oh yes that is true, I missed that. 

I got it like this and it works.

[Jerry Medved]

well, that would be 2 independent orders placed at the same time. What if it never executes the buy?

[3acor]

The first order is supposed to be Ask + 0.1 but I was just testing it and didn't want my order to be filled so I put Bid-0.2 
 

Edited January 29 by 3acor