Hi,
I have read through the details on quickly adding stop and targets via right clicking on the fill line.
If, for example, a two contract buy is executed is there any "quick" way to choose two different targets for one contract each ?
I know I can put two individual one contract buy orders in but if I choose not to scale in (as ordinarily I don't) can you tell me the quickest way to have different targets but the same stop ?
Thanks
Mobelby,
Good News on this front. We are very actively working on implementing automated trading strategies in Investor/RT and hope to have this available for testing very soon. Once that is available, I think you'll be very happy the functionality on this front in Investor/RT. Stand by.
Thanks Chad.
One thing I really hope for that is a safety issue is the option to automatically have the trading rule indicator button turned off completely after the rule is triggered and a trade is entered. I find it quite dangerous that after the trade is exited the button is immediately "live" again and can get you into another trade immediately if you don't remember to turn it off.
Since it's just a "button" I often forget to notice it and turn it off as a button is quite discreet compared to eg an order on a DOM.
I think it would be safer with an option to reset it to off after it is triggered once.
Cheers
The setup for a trading rule indicator includes a section where you Specify When the Rule is Applicable. If you setup your rule and its signal with the rule applicable only when FLAT for example, the rule's signal will be considered/tested only when Investor/RT determines you are not in a position. If a trading rule does fire and a trading order to buy/sell at market is submitted, the fill will cause the trading order to automatically "dim" since the rule is no longer applicable. On the other hand, if you enter the market with a limit order there may be a delay before the fill occurs and during this time, Investor/RT considers the rule applicable since technically you are flat even though your have a working order in process as yet unfilled.
There is an easy way for you to deal with this inside the RTL signal associated with your trading order. RTL has a token TR_WORK you can use to consider whether or not working orders are present. If you only want your signal to fire when there are no working orders, then include the condition TR_WORK == TR_NONE in your signal, e.g.
TR_WORK == TR_NONE AND CL > MA AND CL.1 <= MA
TR_WORK can also tell you whether you are flat working to buy (TR_WORK == TR_FLAT_BUY) or detect when you are FLAT with a sell working order (TR_WORK == TR_FLAT_SELL). Full details on all of the RTL trading related tokens, including TR_WORK, can be found here: https://www.linnsoft.com/feature/trading-related-tokens
One of the key design aspects of the Trading Rule Indicator is to allow the Investor/RT user to specify when a trading order is applicable vs when the rule should be ignored. Presently, this applicability is limited to consideration of position size - FLAT, LONG or SHRT, with options for position size >= N and <= M, where N and M are position sizes. This gives you great flexxibility to have secondary trading rules that only come into play when you are already long or short depending on position size. For example, if a secondary signal fires after you are long 1 contract, you may want to buy to increase your position size. Once long 2 or more, that trading rule will no longer be applicable. The idea here is to reduce the role of the signal itself so the signal does not have to incorporate testing of position size.
The trading rule indicator could be enhanced to allow you to specify in the setup what working order state(s) to consider. That way, you could specify right in the trading order setup that the rule's signal is applicable only when FLAT and with no working orders, for example. We will consider this for future improvement of the trading rule indicator. In the meantime you can easily adjust your signal(s) to incorporate the criterion of no working orders so your signal does not fire twice.
The Trading Rule Indicator allows you to specify the name of a Trading Order that will be submitted when the rule's signal triggers. Alternatively, you can specify <none> as the trading order to submit and instead specify the name of a Signal Action that will be tirggered. Signal Action setups are very powerful. They can play a sound, show a message, send a trading order or an email alert. Iimportantly, a Signal Action can be setup to test a confirming signal before taking any action. If the confirming signal is presently TRUE, then the signal action performs its prescribed actions, including the submission of a named Trading Order. Thus, you can create a Signal, name it No Working Orders and give it the simple formula:
TR_WORK == TR_NONE
This signal can then be used as the confimring signal inside your Signal Action(s). The advantage of doing it this way is that the analytical signal in your trading rule need not include any consideration of working order state. When a trading rule fires its signal action, no order will be placed until the signal action first confirms that the No Working Orders signal is presently TRUE.
Hi,
I don't think I was being clear enough re my issue.
The trading rule indicator I have only applies when FLAT, which is good.
However, it is applied via a chart button.
Once the button is clicked the trading rule indicator will remain "active" on the chart and come into play every time the position is FLAT.
This is not good if I forget to remove it by clicking the chart button for a second time.
This is not my intended use of the chart button.
Instead I'd like to be able to use the button to apply the trading rule indicator once and only once until I next choose to click the chart button.
ie in a similar fashion to the way one uses a "Buy" button on the DOM. The intention there is if clicked to buy only once and not have another buy potentially submitted once the note on the chart stops being "dim".
I think the sophistication of the indicator is great but I'm struggling to find an "easy" way to activate it without that activation remaining alive or potentially alive until I notice it is there and take affirmative action to deactivate it.
To be crystal clear, if I have not turned the chart button "off" the trading rule indicator will enter another order if its criteria are met. In my case it is not linked to any other working orders and if the button is left on it will become the only working order, albeit an accidental working order.
Since there is so much going on during a busy market session I still find there's real danger that one can easily forget to disable it completely by clicking the chart button again.