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I am new to Esignal and I don't really have much experience programming. I have learned a lot through trial and error, formula wizard and by changing efs scripts myself. I have pieced a lot together by reading over the posts in the forums, but I'm having trouble with the "big picture".
I am wanting to create a system in which I can enter a position discretionarily, but then have it take over to help me scale out of the position.
I am seeking guidance as to the best way to accomplish this. Any help or feedback is greatly appreciated.
Example:
I manually enter a limit order for 600 shares of XYZ at $10
I would then want the system to take over in the following manner...
A TTO (Threshold Triggered Order) for 1/2 the shares, 300, placed at -2% and +5% of the entry price.
If the lower threshold is hit, I would want the system to immediately close out the remaining 300 shares at market.
If the upper threshold is hit, I would want it to place another TTO order for the remaining 300 shares -1% and 5% of the price that was just hit.
Good til Cancelled orders.
It would be really cool if it could email you and let you know that the order had been placed or filled.
So I have a number of questions I am hoping someone can help me with...
First of all, is this even feasible , specifically with Esignal and MB Trading.
If so, is this the best method to accomplish this. Any better ideas are welcomed. The challenge for me is dealing with the different position sizes. Any better order types?
Is efs the best route here, or some third party software, such as tradebullet?
From what I understand, I would also need a different efs to be able to backtest with it (assuming I add in my entry conditions), Correct? Would you also need another one to paper trade?
Do the generic broker functions work with MB Trading? Do you need any specific referrence to MB in any of the code? I noticed in the examples on the generic broker function page for IB, they are referrenced, but I am assuming because IB has a plug in.
Most of this stuff is over my head, but I would really like to get some direction to try to learn some of this programming before I run out and hire someone to help me with it. Again, any help at all is sincerely appreciated.
By the way, I have read and understand a lot of the arguments for and against scaling out in general, but for now this is the road I want to head down because I can't watch the market all day. I'm not trying to kick up another debate on that subject.
I am wanting to create a system in which I can enter a position discretionarily, but then have it take over to help me scale out of the position.
I am seeking guidance as to the best way to accomplish this. Any help or feedback is greatly appreciated.
Example:
I manually enter a limit order for 600 shares of XYZ at $10
I would then want the system to take over in the following manner...
A TTO (Threshold Triggered Order) for 1/2 the shares, 300, placed at -2% and +5% of the entry price.
If the lower threshold is hit, I would want the system to immediately close out the remaining 300 shares at market.
If the upper threshold is hit, I would want it to place another TTO order for the remaining 300 shares -1% and 5% of the price that was just hit.
Good til Cancelled orders.
It would be really cool if it could email you and let you know that the order had been placed or filled.
So I have a number of questions I am hoping someone can help me with...
First of all, is this even feasible , specifically with Esignal and MB Trading.
If so, is this the best method to accomplish this. Any better ideas are welcomed. The challenge for me is dealing with the different position sizes. Any better order types?
Is efs the best route here, or some third party software, such as tradebullet?
From what I understand, I would also need a different efs to be able to backtest with it (assuming I add in my entry conditions), Correct? Would you also need another one to paper trade?
Do the generic broker functions work with MB Trading? Do you need any specific referrence to MB in any of the code? I noticed in the examples on the generic broker function page for IB, they are referrenced, but I am assuming because IB has a plug in.
Most of this stuff is over my head, but I would really like to get some direction to try to learn some of this programming before I run out and hire someone to help me with it. Again, any help at all is sincerely appreciated.
By the way, I have read and understand a lot of the arguments for and against scaling out in general, but for now this is the road I want to head down because I can't watch the market all day. I'm not trying to kick up another debate on that subject.
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