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Save complex conditional

hey all I just wanted to touch base with you and share with you a very phenomenal feature on a thinkorswim platform and it's simply conditional orders right so if you have certain conditions that you want in order to be executed on you can actually create a cadet is called a conditional order that it gets you into your the order that you want at that condition within those parameters that you set you typically would use this feature if you don't know exactly when that condition will occur and you really don't want to miss that opportunity if you are let's say working or your way on vacation when you're sleeping or whatever the circumstances might be you want to be able to get into the to that position based on the condition that you said so here's an example I have a bare-bones chart with just a simple movement not a simple movement out but an exponential moving average running through that chart and this is a daily chart for the pound as a dollar right so the condition this as an example is simply across on the movement average now if you are in our etx program you know that you set the condition based upon when the ET expires up and once you're there it executes right there and then for you into a profit of a trade but let's say you you're just using the exponential moving average by itself and you wanted to create a condition that says I want to enter a trade once it crosses the EEMA line so this is the cross I want to enter that trade on the second open so here's one open and here's a open number two so we would actually take this entry order and we just kind of manage that trade all the way up to when it I guess when it turns you would use whatever a system that you have in place to ensure that your net going on opposite side of the mind alright so and and our condition again is an opening on to cat the second candle right so if we let's say we exited this trade profitably right here and we set a condition that we want to enter based on a cross on the opposite side of this email on two candlesticks clearly you it would take you here as well and you just got to manage that that that position as it would go up and cross back over right so you want to make sure that you use in stocks with your trade but that's none of this is advice and this is not not actually the system that we use to to trade with with the etx but it's a very good example of how you you can use conditional orders to enter into certain traits or so here we are at where prices currently and clearly we're on the bullish side of the email and you know we're probably afraid to take an order on the pullback I mean we could very well take an order on the pullback right we could say if the Imam if price touches the EEMA wanna order enter it and we'll be continuing with this foolish foolish push but we don't want to risk it at least I wouldn't I wouldn't want to risk it and it actually crosses the EMA and never actually bounced right so I'm okay with saying you know what I had wait for a full cross and I want the second bar open to enter into that order that's a pretty safe pretty conservative order and it actually is pretty easy to manage because you're doing it on a daily basis even on this pullback it takes a whole day for this pullback to occur so at some point in time if I'm managing my stops I should be able to get out that trade if I'm monitoring like I said so simply if you wanted a condition to occur where there is a second candle on the bear side of this this indicator you simply it right right click and you enter a sell order and you want to edit that sell order and based upon the parameters that you're gonna set you're gonna click on this widget over here alright you're going to change this to a market order cause if you don't want to give it a set price of every venture because we don't know what price will be at that time so we want it to be executed at market will click on the symbol that we're trading which is a pound as a dollar and then we click on studies and hit Eddy's edit study we're gonna remove the existing study and at our own condition right so we're gonna sit this a price yeah opens less than our EEMA which would be a study and we're gonna pull that up I wanted to you know perfect I prefer to change my my time periods to a twenty and seven nine but that's that's your preference if you want to keep it that way and we want to offset this by two bars right so price at two bars would open less than the EEMA on a twenty time period all right so we're going to hit save all right and you can see the various opportunities here that fires up for this specific trade right so we want to take advantage of it and say you know what we're gonna hit OK as a conditional order and it tells us here submit the following order sell ten thousand pound as a dollar at the current price with the orders valid until it's the order is gonna be valid until it's either filled or cancelled so it's not a little bit literally sit there for days if I if I don't do anything let's say price continues on all the way up up for days and maybe even months it'll sit there waiting patiently for that cross on the other side of the email and that's okay that's okay I'll wait to make that profit so it says it's gonna wait until the following condition is satisfied however so step one is going to do this step two is gonna win until the condition is satisfied with Ozzy or the pound Ozzy study opens from two bars right so it's gonna be open on two bars and it's less than exponential moving average all right so this order will show a wait condition status all right so simply save and there we have our order and we're gonna hit confirm and send right and it's gonna actually execute the order not execute it at market but you literally have a signal there that would say it's a wait waiting for that price to cross not EEMA and two candlesticks open now what you want to do before you actually it could confirm and send is just go ahead right here and save this as a existent custom order so we're gonna call this an emo sell all right so we're gonna call this a e-ma I said every time doesn't matter which currency or which which we can actually close this right so we're gonna close this and we never we never hit confirm instead it doesn't matter what you're trading right so let's say for example your trading app whatever let's find a different stock apparently I don't know and the ticker symbol for Apple is let's say we're training up this this company here let's find something a little bit more robust right so we have some miss this stock right here a pion never heard of them one for the same condition to occur right we want to enter the trade when we have two candlesticks that are open on the opposite side of the mo mo so we're gonna do it right here one two we're gonna jump into this border and carry all the lift at the top right but now as you can tell I'm actually now trading stocks instead of currencies but so what do I do I didn't simply hit right click and I hit sell custom this time and now you can see where it says Iman sell alright because I just saved that condition alright so and you can see see I have to eat ETX setup where I can do that as well and you get kima sell and that order is ready to go at market hit confirm and sin and it'll sit there and wait for that for that condition to occur right when i try it again we're going to try something else let's try let's put up a currency that i've never traded or don't have any information on that can give me a very good let's try the DKK alright USD DKK he he we have the email all right and we have some good flows on either side of this study and like here we you know if we entered it here would have been carrying this all the way down all the way down all the way down to here right and it's in here so right now price is above the EEMA so so what we want to do is tell this system that we want to execute an order on this currents appear on the daily chart and that's important because it's gonna occur on the daily chart now if I had pulled up a 4-hour chart or hourly chart or monthly chart it will respect the the chart that you're doing it from so you simply hit again sell custom and here we have the emo cell we hit confirm and soon it's gonna go as a market order and sit there and wait very patiently for that to occur now simply do the same thing with the the ETX and you'll be fine but this is just how you create a custom order and execute it at a market right if you have any questions feel free to leave them in the comments box or if you have any any concerns there are any any suggestions or tips you can go ahead and leave them in the comments box as well please keep your comments clean as well as if you have any interest in the and utilizing that the system that we use called ETX it's a very robust very comprehensive system that'll make sure that you catching these pushes and actually helps you to compound them by by even adding additional orders while you go along in a certain trend it's a swing system that are ensure that you have a whole lot of profits now one final tip before you go if you already have a script that you want to enter into the system that it's based upon a premade script that you know the conditions already exist that you want to have the order executed on you can go ahead and enter the script in' and bypass all of what what I just did alright so for example the students in the EDX program they would have been given a script and all they have to do is go ahead and enter that script into the custom order type so for example if you were given a script you just enter a buy order here this is if you are doing it to to create that conditional order then you hit edit as you normally would and as I instructed you to do and you would create a market order and try to hit that widget right and that that screen pops up and you want the conditions also to be to be said so you can actually go ahead and just create certain conditions that may or may not be related to your script right so we're gonna just delete this right and instead of going through all that we did of having to add the condition and say you want it to execute on two candle sticks below the EEMA and all that if you had an existing script all you literally would have to do is go to the script editor and copy and paste that script right here and hit OK right and this is gonna all populate to make it green and you hit OK and after you hit OK then you hit save and I'm not gonna save this I'm gonna hit cancel and then you'd be back to the screen and you simply go ahead and hit in before executing the order simple go ahead and and hit save and you'd actually rename it to whatever and you see and you can enter multiple scripts multiple custom orders that you'd like to execute based upon a certain commodity that you're trading or based upon certain trading styles or preferences you may have a scalping preference you may have a a swing trade as we do with the etx or you may have some other method that a day trade method that you'd prefer to use you can add multiple multiple custom orders and that's it that's how you you execute a custom order and try to enter into that trade without you having to sit by a computer every day and labor over it you can actually go ahead and do that automatically or automagically I should say unthink assume it's an awesome platform and you haven't used it you should do it and use it right now all right you have a great day and happy trading traded my friends