Autotrade - Limit orders not working?
Posted: 24 Jan 2009
I'm autotrading a range trading channel and having trouble with volatile spreads. My chart is of the bid price EURCAD, when the price hits the top of my channel the limit order correctly sells at the channel value (or better).
However at the bottom edge of the channel the limit order should buy when the ASK price reaches the channel. It doesn't, the buy is happening when the BID price reaches the channel. Problem is that although the spread is nominally 10 points, there has been huge volatility lately. I've been filled at 63 pt and 80 pt spreads and worse still, these double up because I'm reverse trading (ie. as well as the shocking buy opening, the already open sell trade is closed at the shocking spread also).
My question is why is the software triggering a buy 80 pt above my limit price? Shouldn't be possible. Is the limit order function in MCFX broken?
This week I'll try a more complicated setup with the ask price as a second symbol on the chart and see if referencing the lower channel line to data2 works.
Any experience with limit order issues anyone?
However at the bottom edge of the channel the limit order should buy when the ASK price reaches the channel. It doesn't, the buy is happening when the BID price reaches the channel. Problem is that although the spread is nominally 10 points, there has been huge volatility lately. I've been filled at 63 pt and 80 pt spreads and worse still, these double up because I'm reverse trading (ie. as well as the shocking buy opening, the already open sell trade is closed at the shocking spread also).
My question is why is the software triggering a buy 80 pt above my limit price? Shouldn't be possible. Is the limit order function in MCFX broken?
This week I'll try a more complicated setup with the ask price as a second symbol on the chart and see if referencing the lower channel line to data2 works.
Any experience with limit order issues anyone?