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On Tue, 19 Nov 2002, Vince Heiker wrote:
> 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
> ---
>
>
There is a trailing stop command in TS6.
Looks like the command is
SetDollarTrailing(50);
Where the 50 is $50 and the amount you're willing to lose from the maximum
open position or lose in a position that goes against you.
For day trading also set SetExitOnClose();
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