Request relating to Async vs Sync mode of Auto Trading

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oakshadows
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Request relating to Async vs Sync mode of Auto Trading

Postby oakshadows » 06 Sep 2008

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Please go directly to the 3rd post below for this thread. I simplified this issue in that post.

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Last edited by oakshadows on 02 Oct 2008, edited 4 times in total.

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Marina Pashkova
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Postby Marina Pashkova » 17 Sep 2008

Dear oakshadows,

In the Sync auto trading mode the synchronization with the broker is real. Only those orders that have really been filled at the broker are plotted on the chart. Thus, the option to replace unfilled orders and force-fill them simply because they are already there on the chart (as in the async mode) is not necessary. If you need the real synchronization, just use the Sync mode and it will be enough.

If you need any further clarifications, please let me know and I will be happy to help you.

Best regards,

Marina.

oakshadows
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Joined: 01 May 2007

Postby oakshadows » 17 Sep 2008

BACKGROUND:

When I auto trade with Multicharts, I ALWAYS use the Sync mode; never the Async mode.

The "Unfilled Strategy Order Replacement" function is not available in the Sync mode, only in the Async mode.

REQUEST TO MULTICHARTS:

Add the "Unfilled Strategy Order Replacement" function to the Sync Mode.

REASON FOR REQUEST:


I am requesting that the "Unfilled Strategy Order Replacement" function made be available in the Sync mode so that traders using the Sync mode for trading (everyone, I presume) may convert a Limit Order into a Market Order if the Limit Order is not filled within a specified delay period after the limit price is hit.

Thanks.
Last edited by oakshadows on 02 Oct 2008, edited 1 time in total.

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Marina Pashkova
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Postby Marina Pashkova » 25 Sep 2008

Hi oakshadows,

Maybe we are talking about different things. But there is not such a thing as unfilled orders in the sync mode. Orders are either filled and then they are plotted on the chart or not filled and then there aren't shown anywhere. They are simply not there.

Regards.

oakshadows
Posts: 33
Joined: 01 May 2007

Postby oakshadows » 25 Sep 2008

True.

But, because a trader cannot use "Unfilled Strategy Order Replacement" in the Sync mode, limit orders cannot be converted in the Sync mode to market orders after a specified delay period, thereby defeating the best utility of the "Unfilled Strategy Order Replacement" function.

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Marina Pashkova
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Postby Marina Pashkova » 26 Sep 2008

Hi oakshadows,

Could you please explain to me why you would like to have orders converted after a delay? The only reason we implemented in the Async mode was to ensure at least some degree of synchronization b/w the charts and the broker. In the Sync mode there is simply no need for that.

But maybe we are talking about different things?

Thank you in advance for your clarifications.

oakshadows
Posts: 33
Joined: 01 May 2007

Postby oakshadows » 26 Sep 2008

Marina, thanks for asking.

TRADING EXAMPLES -- Use of the "Unfilled Strategy Order Replacement" function in the Sync mode:

1. To synthesize a Market-if-Touched order (in which case the delay period would be set to zero).

2. For a stop and reverse system with limit orders, to assure that an order will be filled in the market if the limit order is not filled within the delay period.

3. If not "1" or "2" above, then to have the choice to be filled if the limit order is not filled within the delay period, as opposed to missing that entry or exit signal entirely.

oakshadows
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Postby oakshadows » 06 Oct 2008

bump for reply.

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Marina Pashkova
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Postby Marina Pashkova » 07 Oct 2008

Marina, thanks for asking.

TRADING EXAMPLES -- Use of the "Unfilled Strategy Order Replacement" function in the Sync mode:

1. To synthesize a Market-if-Touched order (in which case the delay period would be set to zero).

2. For a stop and reverse system with limit orders, to assure that an order will be filled in the market if the limit order is not filled within the delay period.

3. If not "1" or "2" above, then to have the choice to be filled if the limit order is not filled within the delay period, as opposed to missing that entry or exit signal entirely.


Hi oakshadows,

From what you are saying it looks like the best option for you would be to use the asynchronous autotrading mode with the option to convert unexecuted limit/stop orders to market orders enabled. The time-out should be set to 0. This mode would allow you to do exactly what you are describing above.

Let me know if you need further clarifications.

Best regards.

oakshadows
Posts: 33
Joined: 01 May 2007

Postby oakshadows » 07 Oct 2008

Marina,

The proposal to use the Async mode while daytrading is not realistic.

Async, as you know, is not syncronized with the brokerage account. Only Sync mode is. Thus, only Sync mode should be used for Auto Trading.

Because the "Unfilled Strategy Order Replacement" function is not available for Auto Trading in the Sync mode, it is of no use for trade execution strategies.

I won't press this issue any further, but I am surprised by the result and by Multichart's perspective.

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danilo
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Postby danilo » 07 Oct 2008

Marina,

There is another option: the "simulation" of stop/limit orders (as implemented in MC 2.1) is a good compromise since:

1) If IB was reliable 100% will be not necessary any Sync mode since AA mode should be enough. But we know that IB is not reliable 100% for the normal investors (Institutionals pay much more and can have 100% relible platforms and/or network-protocols).

2) It's not necessary a sync mode since the order is directly sent to IB as market order and the execution is assured by the exchange, is this way isn't necessary any acknowledge from IB (in MC2.1 I have never encountered sync problems)

3) With this implementation isn't necessary to send market's limit/stop order, in this way disappear by "definition" the need of any sync protocol and it's possible to hide the strategy's limit/stop values.

I hope to have better clarified my point of view on the issue, although I must admit that the new Sync Mode is a great leap forward, but may not be suitable for all types of strategy especially when a trader prefers to have sub-optimal(*) execution rather than not have it at all.

Best Regards,
Danilo


note:
(*) among the sub-optimal strategies the one that provides an execution nearest to the requested price is the best


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