I trade with Interactive Brokers and Amibroker.
I want to perform a Multistep Trade, I think it requires using the API and cannot be done inside TWS.
It requires Creation of 2 trades:
1. Standard open + profit taker then
2. If the drawdown on the trade reaches a predefined level, say 2%, then a Backup Bracket Trade is opened which also deletes the first profit taker.
The exact trading steps are:
1. Standard Open + Profit Taker Order
Entry1 Limit, Xnum Shares GTC lasts 2 days
- Profit taker: at 3% from Actual Entry
If this Profit Taker engages Nothing further is done.
2. If 2% Drawdown: Place Entry2: Backup Bracket Order
Entry2 Limit 2% Outside Entry1, Same Xnum Shares GTC lasts 2 days
- If Entry2 Engages
- The position is now 2x Xnum Shares.
- Cancel Entry1 Profit taker.
- Place Entry2 Profit taker for 2x Xnum ( = all positions) at Entry2 at 2% profit from Entry2 Entry.
- Place Entry2 STOP for 2x Xnum (= all positions) at Entry2 at 2% loss from Entry2 Entry.
3. Final Closure- Desirable but not critical
On Day 2 since Entry1 order was placed:
- If Any position is still active with an hour to go in the 2nd day
- Convert to MOC order
Open to suggestions on how to implement this.
Bu iş için 5 freelancer ortalamada $601 teklif veriyor