A lot of brokers have portfolio rebalancing tools these
days. But don't think of it as just for rebalancing. Plug in a
ticker, plug in the target percentage (as a % of total account) and
hit the create rebalance orders button. No need to think
about number of shares, dollar values, etc, etc. I love the one at
Interactive Brokers - only downside is that it doesn't work well
for option spreads (I use it for everything else). I will
often enter a position at 1.5% increase to 3% on weakness,
potentially scale up to around 5% if it falls down near my stop
price (typically a support area) and then scale out the same way
(if I don't get stopped out).
jtsurfah: Here's one I use for my options spread. I don;t trade
very big size, other than SPX, This is for my stocks. I enter the
credit i receive on my credit spread and it gives me the # of
spreads I should trade.
Thanks! I'm starting to work on my Interactive Brokers Python
API. Something like this shouldn't be too hard to program in
along with live data and order execution. VectorVest seems
expensive. Which of their products does this tool come with?
I'm guessing that even if I can't pull it off myself (this I
can), I could get a developer to build this out for me for less
than VV's subscription cost.
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A lot of brokers have
CHFS broke out and came back inside the pattern. BBX ...
Posted by jtsurfah on 7th of Jul 2020 at 04:51 pm
A lot of brokers have portfolio rebalancing tools these days. But don't think of it as just for rebalancing. Plug in a ticker, plug in the target percentage (as a % of total account) and hit the create rebalance orders button. No need to think about number of shares, dollar values, etc, etc. I love the one at Interactive Brokers - only downside is that it doesn't work well for option spreads (I use it for everything else). I will often enter a position at 1.5% increase to 3% on weakness, potentially scale up to around 5% if it falls down near my stop price (typically a support area) and then scale out the same way (if I don't get stopped out).
jtsurfah: Here's one I use
Posted by brophy on 7th of Jul 2020 at 05:19 pm
jtsurfah: Here's one I use for my options spread. I don;t trade very big size, other than SPX, This is for my stocks. I enter the credit i receive on my credit spread and it gives me the # of spreads I should trade.
Thanks! I'm starting to work
Posted by jtsurfah on 7th of Jul 2020 at 05:42 pm
Thanks! I'm starting to work on my Interactive Brokers Python API. Something like this shouldn't be too hard to program in along with live data and order execution. VectorVest seems expensive. Which of their products does this tool come with? I'm guessing that even if I can't pull it off myself (this I can), I could get a developer to build this out for me for less than VV's subscription cost.