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conditional order execution on a box trade

Hi Everyone,

I don't have trade station, but I'd like to switch to it.
However it is not available to those living outside the USA for the Trade station brokerage package. I don't have Ninja either.

In Trade station (or Ninja) can you create an order based upon a group of conditions?

For example, ES is trading in a box between 1078.25 and 1072.25.
Let say you create a pair of one-cancels-other orders for a breakout from the box.
1. Buy-stop 1079.25 (for upside breakout)
2. Sell-stop 1071.25 (for a downside breakout)

then it breaks out to the upside triggering your "Buy-stop 1079.25" and canceling order #2.

Your profit target is 1084 (the VAH). You wish to sell at 1084 but only if the momentum (MTN) on the one minute chart is less than the momentum three minutes earlier. So if the MTN is still rising you don't want to trigger your sell and take profits on the long.

So you want an order that:
IF (price =>1084) AND (MTN < Mtn minus three minutes)
sell at market.

{If the momentum is still rising then you want to hold your long to your next target, 1089. Same deal there.}

Note: I have attached a graph with the 1084 order labeled "alert sell-stop 1084"

So can you set up orders, in trade station or in Ninja, that are activated by a group of conditions based on indicators?


Click image for original size
example for box trade question<br>23 Oct 2009<br>ES Dec 2009
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