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Bekaert
 Regular
  Posts: 52
Joined: 2/1/2008
Location: Oostkamp, Belgium, Europe
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Hi
I’m working with integrated brokerage in OT and Interactive brokers TWS
Suppose I have an open position for stock XYZ of 200 shares
and the following day I want to buy more shares, lets say another 200 shares
Is there a way to do this in Omnitrader using the trading chevrons or by using the buy buttom in the OT tool bar?
Or is the only way to handle this to buy more shares directly in TWS
Regards
Marc Bekaert
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Jim Dean
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       Posts: 3433
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Location: L'ville, GA
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Hi, Marc:
You can definitely do it in the TP ... I'm unaware of how you can do it manually with chevrons ... and if you do it manually via TWS I sorta doubt that OT will be able to continue to manage the trade ...
In the TP, you insert another Condition-row in the Step after the initial entry, with a Condition attached that must be satisfied in order to fire an additional "scaling in" order. If you're writing custom Stop code for this, just pretend that "Signal=ExitSignal" really MEANS "Signal=EntrySignal" in this instance.
Note that there normally should be other Condition-rows in that Step that provide stop-loss Exit protection as well.
If the scaling-in condition hits, then the Jump-To step would have the necessary rules for exit - often they will be dup's of the rules in Step two.
You ARE allowed to enter percentages > 100 for number of shares, btw.
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Brad Kent
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Location: New Jersey
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I just buy more in the TWS interface. When OT closes the larger position by a stop or by my manual action, it apparently sends a "close it all" to TWS. This is based on intraday trading experience. I don't think you can do anything with chevrons because the trade is already running at that point.
- Brad
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Jim Dean
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Location: L'ville, GA
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I'm not sure whether all TPs would react to manual adjustment of shares as you would like, since the TP is *supposed to* buy sell *specific number* of shares, rather than just arbitrarily close out the entire position.
Truly, for purposes of scaling out (partial exits) this would be an important factor.
HOWEVER, since the TP quantity input IS a percentage, and since in real life sometimes an entry order is only PARTIALLY filled, it could be that an active TP queries the broker re nu
ber of shares active and proceeds from that point on a percentage basis. If that is how it works, then your scenario would work fine.
Maybe N will chime in on this to verify reliability of this approach even when complex TP's are involved.
[Edited by Jim Dean on 5/26/2010 10:00 PM]
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Bekaert
 Regular
  Posts: 52
Joined: 2/1/2008
Location: Oostkamp, Belgium, Europe
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Jim, Brat
Thanks for the quick answers
i will try some things out now
Regards
Marc
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Barry Cohen
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This feature is something we've wanted to add for a long time, but weren't able to. It is added in the next pre-release which will be out later today I believe. It will work like this...
From the chart you will right click on the order chevron & click “Orders”. This will bring up the Trade Plan Setup window. Click on the condition under Step 1 of existing trade.
Next you will click on the Add Order button on the Pending Tab at bottom of window to open the Add Order Editor window.
You can increase the amount of shares by entering that amount within the Quantity box, then click on Submit.
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Jim Dean
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Location: L'ville, GA
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wooo-wee!
Great!
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Tony
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Barry,
seems like the next possible step is to allow for partial exits on the fly to account for sells that might not be part of an actual trade plan. Not sure how many would use this. But seems to make sense to be able to move around on both sides of trade..... Add here, take off there ect.
Take Care,
Tony
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Jim Dean
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Location: L'ville, GA
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absolutamente!
good point, Tony!
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