Here is the ATM I am using for the following scenario:
Say the market is at 2495 points and trending up. I have a buy stop limit at 2500 to go with the long for a point scalp. My order kicks in, and the ATM above buys 4 contracts. Right now, I have the following orders:
- Limit Sell 3 Contracts @ 2501 (1 point scalp target)
- Limit Sell 3 Contracts @ 2498 (protected stop for the scalp)
- Limit Sell 1 Contracts @ 2498 (protected stop for the runner)
- Limit Sell 1 Contract @ 2510 (my runner reserve in case market shoots up)
Now. What I want to do is that, if the market hits to 2501 and my order to sell 3 contract executes at 2501, then I wish to move the protected stop order for the runner to breakeven point. So as soon as my order to limit sell 3 contract @ 2501 executes, i wish to have following orders:
- Limit Sell 1 Contract @ 2510 (still the same order for the runner. no changes)
- Limit Sell 1 Contracts @ 2500 (protected stop for the runner increased to break even point)
Now, how do I do that using the ATM Strategy option?
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