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May I know if there's any method to setup a trade (stocks/ futures / forex) with SL at a predetermined risk ($) in TOS? I've yet find a way to get that information from TOS as it only allows me to setup trade with units / contracts. I need to know my risk$ per trade (using SL) to risk manage effectively.
For stocks you would use the Order Entry, Advanced Order - drop down. I can't link specific videos, but look under "Trade" "All Products" for a couple of video Tutorials here: Learning Center
* I think OCO orders can only be established on order entry. Once you place an order you can't create an OCO with a stop and target. You can create a stop order, and a target order separately but if one is hit it will not cancel the other if not created as an OCO on the initial order.
Hi rmejia, thanks for the answer. But it's not what I'm asking for. I'm looking for a way to enter a trade with predefined risk dollar (eg. risking $100 per trade by setting SL at a predetermined level & having TOS auto-calculate my trading units/contracts).
The default way of entering trade with OCO doesn't seem to provide any info about how much money would be risked (from SL level) & profit (from TP level) upon order entry. I wonder if it's possible to setup TOS to output such information upon order entry or will I need to do some sort of scripting?
Thanks, that's the information I'm looking for. But is there other ways of viewing "P/L open" upon order entry? Viewing through ActiveTrader for my potential risk$ & profit$ will be my last alternative though if I can't find other ways.
I've coded with MQL4 for metatrader, haven't spend time studying Thinkscript. Is it possible to output "P/L open" somehow through Thinkscript?
I'm currently on TOS demo. I'm aware of the lagged data, just wanted to get my hands on TOS since it's one of the best alternative free platform I can find to trade multiple instruments (forex, futures, stocks, etc).
Don't mean to be nosy, but don't think it's legal to trade Forex here(M'sia). If you have an acct in spore, then fine. Hope you're not trading with one of those "illegal/scam" forex company here.