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AutoScalper: Automated Futures Scalp Trading Software for the individual investor on Interactive Brokers's Trading Platform. - Trade settings

AutoScalper's Autotrade Settings:

AutoScalper is not limited to only placing classic scalp trades, but you can refine the prices and determine when to trade. How does AutoScalper work? Simply put: it throws in a sellorder and a buyorder, waits untill these (limit) orders are executed, and throws in a new combination of a buyorder and a sellorder. When only 1 order is hit, and your position is at your defined stoploss point, AutoScalper will change the resting limit-order to a market-order for immediate order execution, and thereby terminating this losing position. Then it starts over again by placing the combination of a buyorder and sellorder, and so on.

When to trade settings:

You decide when AutoScalper places the trades: immediately after activating AutoScalper and than after each execution of the combined order (Order # 1), or after 1 (or after even up to 5 consequtive) uptick(s) in lastprice/askprice or bidprice movement. And/Or after 1 (or even up to 5 consequtive) downtick(s) (Order # 2) in lastprice/askprice/bidprice movement.
Order # 1 is a combination of a buyorder and a sellorder, placed after an uptick or when immediate trade is selected, Order # 2 is a combination of a buyorder and sellorder invoked after a price downtick.
You can select when to place Order # 1, and define it's price compilation, and when to place Order # 2 with it's own price compilation. If Order # 1 will be executed, or Order # 2, depends on which occurence of when to trade happens first.
For example: you set Order # 1 to place his trades after 1 bidprice uptick, and Order # 2 after 1 lastprice downtick. If the lastprice goes down before the bidprice goes up, the combination of orders from Order # 2 will be executed. You can check the tradelog in AutoScalper to see what occurences triggered the orders, and also if they made you a profit or a loss.


Stoploss and profit are measured in the product's minimum-price-increment, for example in the eMini Nasdaq at Globex (NQ) it's 0.25 marketpoints. We will refer to this minimum-price-increment as MinTick. The profit or loss (PnL) of a position will be determined by it's direction: if the position is "long" the PnL will be the position's buyprice in relation to the market's bidprice, if the position is "short" the PnL will be the position's sellprice in relation to the market's askprice. The trader determines how many MinTicks will be the point of Stoploss. You are in a Stoploss position when only 1 of the 2 placed orders is executed and the PnL of this position will be even to (or smaller than) 0 minus the value of the user selected MinTicks. At this point the not-executed order will be changed by AutoScalper to be executed immediately at the current marketprice to close this position.

Price Compilation

When you made the when-to-trade selection it's time to create the prices for Order # 1 and, if needed, for Order # 2. The orderprices are based on the last received lastprice/bidprice/askprice, and can be the same, or higher or lower based on the selection of + or - in combination with the number of MinTicks.
For example: to set up AutoScalper to perform classic scalptrades, select buy at bidprice, than select sell at askprice, can be done at Order # 1/2/both. But you can also widen the margin by selecting: buy at bidprice - 1 MinTick and sell at askprice + 1 MinTick. You can define even different order compilation prices for Order # 1 and Order # 2, and varying the number of MinTicks from 0 to 99.