EA to execute pending order trades faster by 15 times

[optionhk]

Hi Renee,

I have been using Interactive Broker's Scale Trader execution utility for the last two years that catches hippo-like price moves or small surges and has boosted my bottom line.

Can you imagine a 50-pip High Low range, split into 10 pips TP pending order grid generating not 50 pips profit but 150 pips in a consolidation or sideways environment lasting a couple of hours - waiting for FOMC interest rate decision news release. Without putting in more margins, an excellent way of achieving capital efficiency by capturing small surges of price during the waiting period.

This kind of capital efficiency can be achieved only by using futures platform MT5 or NInja Trader and futures platforms and brokers who charge fixed commissions rather than inflating spreads to accommodate commission. Brokers like AMP, Optimus, Dorman, Woodbush, etc. Not many US brokers offer MT5 . Exchanges don't approve Empty4 for futures trading.

I have seen several grid builders - none of which has this unique logic of re-opening TPs or revising last TP price line without touching increment (for Buy Limit ) or decrement (for Sell Limit) .

Let me not explain how it is to be coded. It is explained in detail by IB who coded it to increase their volumes biz some 20 years ago.
https://www.interactivebrokers.com/en/index.php?f=1216

Basically, it is not a thinking machine. Just an utility. So need a good machine operator to find locations where the machine can be operated.

I have practised on demo and real trading for 18 months , sometimes using the tool by moving locations
up to 30 spots in 12 hours of trading. I can test it for you and share my hands-on experience.

Attached is the grid building EA which you may adopt to fit ScaleTRader into it.

1. VR lines: It is a good screen based pending order , each pending order with different lot.
2. Rectangle for range trading and breakouts: This kind of projection and facility to draw the grid on the screen is user-friendly.
3. Timed Execution; ScaleTrader also has entry by time.