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As dumb as may be and sound, and as a 45 day newbie to TS6, I cannot figure
out how to place stops in TS6.
This is sort of a critical issue because during intraday trading, when
nature calls, its kind of stressful to leave the PC for a while, with one or
a few or several open trades and no stops.
TS6 help is no help. Couldn't be more vague, at least for me.
The order bar has these entry fields: Symbol; Quantity; Limit Price, Stop
Price, Order Type, Route, Duration. My interpretation is that I can enter a
buy stop or a sell stop but not a stop loss with those fields.
Within Order Type are: Stop Market; Stop Limit; Limit; and Market.
So, let's say that I enter an order with no stop and it is filled. Normally
I prefer having mental stops to having stops placed, since those become
known to the NYSE specialist or Naz market maker, and sometimes there are
some out of range trades that can erroneously trigger stops. Excepting
mental stops are not very good when nature calls.
One solution is to keep a large empty bottle next to the PC for obvious use.
But maybe there are some more elegant solutions among the more experienced
TS6 traders at this forum?
Q1: How can I subsequently enter a trailing stop? From some notes posted at
TradeStation World, I gather that TS6 <amazingly> still does not yet have a
trailing stop order function. Has anyone here created EL code that can
suffice, and that s/she is willing to share?
Q2: Alternatively, how can I subsequently enter a stop loss, for an existing
open order? Then quickly cancel the stop loss when I return to the PC?
If it is some combination of entries and the Stop Limit order or Limit
order, I must be as dumb as one of our proverbial Texas fence posts, because
I sure cannot figure it out from TS help, nor from playing around with the
order types and entry fields.
If doing this requires EL code, which I have not yet learned, is anyone here
willing to share that EL code?
Guess its somewhat unfair to expect TS6 developers to have maybe looked at
competing products and to have then developed easily used and well
documented stop, stop loss, trailing stops and some of the many other order
types missing from TS6. If any such TS6 developers read this, if you send
me an email asking for same, I'll email you back a spreadsheet full of Order
Execution functions that y'all can use as a guide to improving - please!!! -
TS6's or TS7's order execution.
Thanks.
Vince Heiker
Flower Mound, Texas
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