Auto Placing of Target / Stop Loss as GTC orders
Author: stephenlobo2963
Creation Date: 3/8/2018 9:51 PM
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stephenlobo2963

#1
Hi,

Is there any way to place GTC orders through the orders generated by the strategy monitor ?

Am currently running a strategy on a 30 minute scale and the average hold period is 10+ days. The orders for Tgt/SL are generated and can be placed. However these are only Day (Time in Force) orders get placed.

There are 2 issues with this.
a. The orders only come in at 10 am and so there is an open unprotected period from 9.30 to 10.
b. The same needs to be repeated daily.

Currently I'm manually placing GTC orders directly within the Fidelity system.

Is there any way I can get the orders to be GTC directly from the Wealth Lab platform.

Any thoughts, ideas, work-arounds will be sincerely appreciated.

Tks,
Stephen
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superticker

#2
You can "stage" the Alerts from strategy monitor to the Orders window. From the Orders window, you can convert these staged orders to stop or trailing stop orders with the Good-unTil-Canceled attribute. But be advised, your WL simulation won't know anything about GTC stops orders converted this way.

If you want your simulation performance results to reflect your trades, then you'll have to avoid manually converting staged orders to GTC on the Orders window. Just have your WL simulation re-issue the stop orders each new day after the previous day's stop order expires.
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stephenlobo2963

#3
Tks SuperTicker. Will try same. :-)