Enter a manual trade and set profit target and stop loss

Author: fisher1al

Creation Date: 9/25/2019 5:53 PM

Wealth Lab » Wealth-Lab Developer/Pro » Enter a manual trade and set profit target and stop loss

fisher1al

9/25/2019 5:53 PM

I am trying to figure out how to buy 100 shares of Apple in a sim mode (paper trading) and set Target and a Stop Loss. I am not interested in using a strategy, just plain vanilla entering a manual trade. Can anyone help me please?

Thank You
Alex

Eugene

9/25/2019 6:31 PM

Hi Alex,

You could use the right-click trading feature to start a trade (or close it at market) but not so for profit target and/or stop loss. For that you have to create a Rule- or code-based Strategy. Check out this video to see how easy it is to build a Strategy from Rules:

Wealth-Lab 101: Intro to Strategy Builder

On Paper Trading, refer to the Wealth-Lab User Guide (Help menu) > Orders > Paper Trading.

fisher1al

9/25/2019 10:39 PM

Thanks.

Eugene

9/26/2019 5:54 AM

You're welcome. Please don't hesitate to ask followup questions re: adding stop loss / profit target to your Strategy from Rules.

fisher1al

9/26/2019 4:27 PM

Eugene, I still can't figure out s SIMPLE and EASY way to enter a trade, be able to adjust my Target and adjust my Stop Loss. Is it even possible to do that with Wealth Lab? I don't need conditional statements for Tgt and SL based on SMAs, RSIs, etc. All I want is to enter a trade and move my Tgt and SL based on my own criteria. Maybe there is some kind soul who can help me over the phone. :( :(
Thank You

Eugene

9/26/2019 5:02 PM

Wealth-Lab Pro is a systematic trading tool that focuses on building mechanical trading systems. Sounds like Active Trader Pro may fit your discretionary kind of trading:

https://www.fidelity.com/trading/advanced-trading-tools/active-trader-pro/overview