CQG POSITIONBRKT algo order’s limit price, let it be P, is used as starting point for all price calculations.
Let the order contract tick size be T.
1. BUY CQG POSITIONBRKT:
a. Target1Price = P – Target1PriceTicks * T
b. Target2Price = P – Target2PriceTicks * T
c. Target3Price = P – Target3PriceTicks * T
d. StopPrice = P + StopTicks * T.
2. SELL CQG POSITIONBRKT
a. Target1Price = P + Target1PriceTicks * T
b. Target2Price = P + Target2PriceTicks * T
c. Target3Price = P + Target3PriceTicks * T
d. StopPrice = P - StopTicks * T.
Example: let’s consider a situation when there’s 100 lots long position in E-Mini Futures.
Let P = 5988.00; T = 0.25.
A trader wants to sell 100 lots of EP in 50/50% proportion at 5989.00 and 5989.50 for first and second targets correspondingly..
Trader also wants to sell order’s remaining quantity if market moves below 5986.00
To achieve those results it’s will be needed to send an LMT DAY CQG POSITIONBRKT algo for 100@5988.00 with:
1. StopTicks = 8
2. Target1PriceTicks=4, Target1QtyPct=0.5
3. Target2PriceTicks=6, Target1QtyPct=0.5.
SELL LMT DAY CQG POSITIONBRKT algo with such parameters launch two children: 50@5989.00 and 50@5989.50.
But if market price moves to 5986.00 quantity which was not filled for child orders will be launched as LMT DAY order.