Multiple stop losses & profit targets for a number of lots while trading on MCX?

#1
I have a strategy for MCX commodities. How can I automate it?

Let's say I limit buy order for crude oil at 3000 with 4 lots with sl at 2990.

I want to sell 1st lot at 3010. When price crosses 3010 then I want to modify my order as followed - sell 2nd lot at 3020 (fixed sl for all remaining lots = 3010). After price crosses 3020, I want to sell the 3rd lot at 3030 (fixed sl for all remaining lots = 3020). After price crosses 3030 then I want to have my 4th lot 's sl changed to a trailing sl of 10.

I am registered to SAS online brokerage.

I just want to put in my limit order buy price and then automate everything else that I've described in the strategy. How can I do it?

Thank you.
 

umeshmandal

Well-Known Member
#2
I have a strategy for MCX commodities. How can I automate it?

Let's say I limit buy order for crude oil at 3000 with 4 lots with sl at 2990.

I want to sell 1st lot at 3010. When price crosses 3010 then I want to modify my order as followed - sell 2nd lot at 3020 (fixed sl for all remaining lots = 3010). After price crosses 3020, I want to sell the 3rd lot at 3030 (fixed sl for all remaining lots = 3020). After price crosses 3030 then I want to have my 4th lot 's sl changed to a trailing sl of 10.

I am registered to SAS online brokerage.

I just want to put in my limit order buy price and then automate everything else that I've described in the strategy. How can I do it?

Thank you.
No idea at all ! Not much of a computer guy ! :p But would request ou to share the solution as and when you find one !
 

trader21

Active Member
#4
For proper automation, you will need an API. Nest Plus API is recommended because it is economical and robust. Check if your broker can provide it.