How to quickly scale out of a position manually?

[jspot99]

Hello all - new member here!

What is a fast method to manually scale out of a position by 25% or 50% (or some other predefined portion)? Could be market order or a limit order (e.g. bid+$0.10 or ask-$0.10) and linked to a keyboard shortcut for rapid execution.

Coming from DAS Trader and this was very simple to do on that platform.

In MW, I am trying to do this with Exit Strategies, but no luck.

Any help appreciated!

 

[ScottyA]

Welcome @jspot99!

What is a fast method to manually scale out of a position by 25% or 50% (or some other predefined portion)? Could be market order or a limit order (e.g. bid+$0.10 or ask-$0.10) and linked to a keyboard shortcut for rapid execution.

I looked into this a while back, and here's what I came up with... Try using a combination of two things within the DOM or the MotiveWave Trade Panel:

1. Custom Buttons to execute trades. They're very simple to build! I've never been a fan of MKT order Entires, so I created a [LMT -1] tick button for Long entires and a [LMT +1 tick] for Short entries
2. Keyboard shortcuts to change the Quantity Selector within the DOM or Trade Panel. These can be configured to whatever exact value you prefer, but it does not do percentages.

Hope this helps!

 

[MrHwang]

Welcome @jspot99!


I looked into this a while back, and here's what I came up with... Try using a combination of two things within the DOM or the MotiveWave Trade Panel:

1. Custom Buttons to execute trades. They're very simple to build! I've never been a fan of MKT order Entires, so I created a [LMT -1] tick button for Long entires and a [LMT +1 tick] for Short entries
2. Keyboard shortcuts to change the Quantity Selector within the DOM or Trade Panel. These can be configured to whatever exact value you prefer, but it does not do percentages.

Hope this helps!

Thanks for the heads up on the custom buttons, I wasn't aware of this but used it a lot in IRT. Very useful. Will definitely check it out. Thank you.