Feature Request: Enter Order with Bracket attached

Questions about MCFX and MCFX Data Feed.
TraderJ
Posts: 46
Joined: 14 Jul 2009
Location: Germany
Has thanked: 4 times

Feature Request: Enter Order with Bracket attached

Postby TraderJ » 29 Jul 2009

Broker: Interactive Brokers
Exchange: IDEALPRO
Trading Systems: 100% Automated

I am currently flat. I would like to submit an opening LIMIT order with a BRACKET attached. A bracket consists of a take profit LIMIT order and a stop loss STOP order, tied together as an OCO group (One Cancels Other). This means that the order I am looking for consists of three orders in total (1 enter, 1 take profit, 1 stop loss). Let us call such an order a TRIPLET.

It is the fastest way to trade because the orders hit the exchange directly and become active immediately. I will get a fill on my profit target even if there are only a few milliseconds between the price hitting my entry price and then my profit target. It is the safest way to trade because almost nothing can go wrong. I am safe even in the event of an internet connection loss or a computer breakdown (already had that).

I would like to issue two TRIPLET orders at the same time, e.g. an enter LIMIT BUY and an enter LIMIT SELL SHORT order. Both TRIPLET orders must go directly to the exchange (not to IB's server for holding). Once one of the two orders is filled, the other gets cancelled. If possible, the best realization of this behaviour would be to tie both TRIPLETS together as an OCO group.

Because of its massive benefits, I would like to see the feature of a TRIPLET order realized in a future release of MC. Are there currently any plans to this?

zukkaweb
Posts: 125
Joined: 08 Feb 2008

Postby zukkaweb » 27 Feb 2010

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