Exit Strategies, Portfolio Management

[DeepThinker]

@Christopher84
I hope all is well,
I have been following this post, taking notes, aiming to start using this great tool in my trading.
Looks like this post got less attention. I am happy to connect and learn further about your trading style and updates on how you are using thins tool.

Would it be possible to to create a study based conditional order (OCO Bracket with TAILING STOP LOSS) on TOS, using the latest ConsensusConfirmationCandles Indicator setup ? if you could share ideas or provide setup if the time permits.
I do not have much time to trade during the day and looking for any option/help with automating my trading, while reducing the risks.

Thank you in advance,
GK

 

[MerryDay]

@Deep Thinker The ToS ATR Trailing Stop Loss is too complicated for use in the conditional order module.

 

[DeepThinker]

@Deep Thinker The ToS ATR Trailing Stop Loss is too complicated for use in the conditional order module.

Many thanks for your prompt reply,
Would you have a suggestion on what can be accomplished based on the study conditions ?

 

[MerryDay]

@Deep Thinker Conditional Orders are an area that ToS struggles. Anything other than the simplest exit strategies can't be coded into a conditional order due to complexity.
My workaround has been to run a scanner for my exit conditions on my portfolio watchlist
https://usethinkscript.com/threads/create-a-portfolio-watchlist-alerts.8375/

 

[DeepThinker]

@Deep Thinker Conditional Orders are an area that ToS struggles. Anything other than the simplest exit strategies can't be coded into a conditional order due to complexity.
My workaround has been to run a scanner for my exit conditions on my portfolio watchlist
https://usethinkscript.com/threads/create-a-portfolio-watchlist-alerts.8375/

@MerryDay Many Thanks for the feedback and suggestion.
I wonder if anyone externalized this as part of the automating with bot?

 

[MerryDay]

@MerryDay Many Thanks for the feedback and suggestion.
I wonder if anyone externalized this as part of the automating with bot?

The scraping of ToS data is an advance programming concept. You can glean the complexity in these threads:
https://usethinkscript.com/threads/auto-trade-in-tos.7546/
https://usethinkscript.com/threads/automated-python-based-trading-bot.5955/