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Discretionary Chart Trader

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    Discretionary Chart Trader

    Hello, i am trading with the latest version of nt7, and i am using ib paper trading account.

    I am was manually managing a position that went against, as i was adding orders to the position to minimize loss, what i had hoped was happing was not. i was hoping that as i enter and exited trades that the exit was from the last trade entered not first trade placed.

    as you can see from my image had the last trade entered had been the position that was exited every trade would have been a small profit.

    instead the frist position placed was the trade that was exited which is the reverse of what is desirable in my case.

    is there a setting the will change this behavior as to what trade is exited from first position placed to last position entered?
    Attached Files

    #2
    Hello jupiejupe,
    You can uncheck use FIFO for position avg price calculations
    • In Control Center menu bar goto Tools>Option>Gereral tab and make sure Use FIFO for position avg. price calculation is unchecked.


    However I dont think it will affect the order display settings in TWS. You may also like to contract IB and ask them for any specific settings in TWS to display the extry exits as per LIFO method.
    JoydeepNinjaTrader Customer Service

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      #3
      okay thanks and thanks for the term.

      Comment


        #4
        this seems to be for accounting purposes?

        i need this for trading entry and exit.

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          #5
          Hello jupiejupe,
          Yes, its all about how the trades are accounted for and how the PnL is calculated. It can be either the First in first out (FIFO) or last in first out (LIFO).
          JoydeepNinjaTrader Customer Service

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