Complex Order Help for TradeStation

[thrunner]

Hlm probably has the best advice so far as you are most likely trying out different platforms after initially trying Tradestation (TS). These two threads talked about Infinity and OEC: http://www.traderslaboratory.com/for...ysis-3163.html
http://www.traderslaboratory.com/for...or-e-3725.html

One platform that could take data from TS and do trade simulations is Ninjatrader (NT), and that is certainly a free for simulation platform that you should try out. Their DOM is competent enough and feature rich enough and their simulator is probably as good as any out there (IMHO, it is better than the newly released TS simulator because you could quickly switch from simulation to live and you could replay any recorded data for further practice and analysis). Beware that actual live trading with NT is not free and there is no way to trade with TS- RJOBrien as the broker because TS does not allow an open API to route the live orders using a third party software such as Ninjatrader.
What you will learn from NT is not all for loss because there are many other brokers that will take live trade signals from NT.

[nickm001]

trbates,
If your question is if TS strategy ( in auto mode) can do the scaling as in your example, the answer is yes. You would have to program the strat using EL. If you were to try to do that discretionary from Dome ( matrix) in TS, then it would be hard to do. Complex orders are possible in TS, but they are static, and can be adjusted manually, but not in rapid trading with such a close stops.

[Infinity_Tom]

	Quote:	trbates
	Hi, I posted this on the TradeStation Forums ... but they were less then helpful So I thought I would try you all ... and see if I couldnt get some help. Basically I'm looking for either how to do this order, or if you do something similar if I could use your order as a template that would be great as well. Below, I will copy/paste the original Post ... <Begin Copy/Pasted Text> I am new to TradeStation and was wondering if the platform was capable of handling this order ... I scalp the YM and would like for my protective stop to move with profit. What I was thinking is something along the lines of ... Enter at Market Once I have 5 points profit in the trade I would like to move my stop to break even. Once I have 8 Points, then move the stop to 5 points profit. Once I have 10 Points, then move the stop to 8 Points Profit. Once I have 15 Points, then either trail the stop by 3 points (or if its easier ... put my stop to 10 points with a final target of 20 points) This way, the trade doesnt end until I am stopped out. Is this possible? Thanks <End Copy/Pasted Text> Any insights into how I might accomplish something like this would be greatly appreciated. Travis

Travis,

AT has a trailing stop function.
For example:
You can originally enter the market with a 10 tick stop loss.
Once market moves 8 ticks in your favor stop will move to 3 tics below the market and trail the market tick for tick.

AT has a stop loss to break even function
For example:
You can originally enter the market with a 10 tick stop loss.
Once market moves 8 ticks in your favor stop can move to break even plus 1 tick which should ensure you at least break even and cover costs.

AT has a multiple bracket & trailing stop function
For example:
You can set the original stop loss to 10 ticks
Profit objective of 5,10,15 ticks.
Trailing stop can trail market by 5 ticks,once market moves 11 tics in your favor.
In this scenario stop is entered normally with 10 tick stop loss.
market moves in favor of trader 11 tics - meaning first two profit objectives filled.
Last profit objective can be left were it is or it can be manually canceled leaving unlimited upside profit potential with trailing stop automatically moving 5 ticks below market all the way up.

Hope this helps.

Best regards,


Tom

[swansjr]

I'm no expert, but your exit strategy in EasyLanguage for TS might go somethting like this:

Input:
InitalStopValue(20);

Variables:
MyStop(0),
Target1(false),
Target2(false),
Target3(false);

// Place Your Buy Condition Here

{ Entry Code }


// Exit strategy for long trades

If (MarketPosition = 1 ) Then
Begin

If ( OpenpositionProfit < 25 ) Then
MyStop = InitalStopValue;

If ( OpenPositionProfit >= 25 ) And ( Target1 = false ) Then
Begin
MyStop = EntryPrice;
Target1 = true;
End;

If ( OpenPositionProfit >= 40 ) And ( Target2 = false ) Then
Begin
MyStop = EntryPrice + 5;
Target2 = true;
End;

If ( OpenPositionProfit >= 50 ) And ( Target3 = false ) Then
Begin
MyStop = EntryPrice + 8;
Target3 = true;
End;

If ( OpenPositionProfit >= 75 ) Then
Begin
Sell("20pt Target") next bar at EntryPrice+20 limit;
MyStop = EntryPrice + 10;
End;


// Sell on MyStop

Sell("Stop") next bar at MyStop stop;

End;

// Reset target flags once position is closed

If ( MarketPosition = 0 ) Then
Begin
Target1 = false;
Target2 = false;
Target3 = false;
End;

[trbates]

Thank you very much Swansjr, I'll give that a go

Thanks again, I really appreciate it!