Is there any option that the Stop Loss/Take profit targets in a Exit Strategy are saved on the client rather than sent to the broker?
What is happening is that when the SL and TP orders are sent to the broker, the margin for those orders is deducted from my account thereby reducing the amount available to trade. Basically by using MC exit strategy I am using up 3x Margin for every position I open. I never noticed until today when I had several positions open and I got a margin call imminent warning email from the broker.
Is there any way to hold the orders client-side?
Stop Loss & Profit target in Exit strategies [SOLVED]
Re: Stop Loss & Profit target in Exit strategies
I'd be interested to hear about this too. In other packages I've used, you can have what is known as a "soft" stop or "virtual" stop that is held on the client side so the order book at the broker knows nothing about it. When it gets triggered client side, it sends a market order to close out the position.
This adds latency but you have the benefit of only revealing the trade when you have to.
Do all stop loss, trailing stops and profit targets get sent immediately to the broker with MC?
I guess the obvious work around is not to use stops or profit targets but instead monitor the price and issue a market or limit order as required. However, it would be good to be able to keep the code the same and then use a setting in MC to change between virtual and real stops.
Thanks
This adds latency but you have the benefit of only revealing the trade when you have to.
Do all stop loss, trailing stops and profit targets get sent immediately to the broker with MC?
I guess the obvious work around is not to use stops or profit targets but instead monitor the price and issue a market or limit order as required. However, it would be good to be able to keep the code the same and then use a setting in MC to change between virtual and real stops.
Thanks
- Henry MultiСharts
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- Henry MultiСharts
- Posts: 9165
- Joined: 25 Aug 2011
- Has thanked: 1264 times
- Been thanked: 2957 times
Re: Stop Loss & Profit target in Exit strategies [SOLVED]
Hello EdL,
As our tests shown when stop and limit orders are sent to Interactive Brokers the margin for those orders is not deducted from account. With IB orders are sent either to IB TWS platform or to the exchange directly. Here is how it works exactly.
The workaround you have provided for auto trading is correct:
As our tests shown when stop and limit orders are sent to Interactive Brokers the margin for those orders is not deducted from account. With IB orders are sent either to IB TWS platform or to the exchange directly. Here is how it works exactly.
The workaround you have provided for auto trading is correct:
I guess the obvious work around is not to use stops or profit targets but instead monitor the price and issue a market or limit order as required.