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Open Feature request MC-221

semi-automatic trading

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Description

Some have made the comment that a fully automatic trading system is dangerous and very risky.  I tend to agree as a trader may fall into the false sense of security and walk away from the screen only to discover when back that a glitch has occurred somewhere leading to a bad trade.  The worst-case scenario, although hopefully never would happen, is the trader finds himself with a disastrous state of financial affairs possibly leading to bankruptcy.  So, for those traders who want to be extra careful and take virtually no risk of this happening, the DOM feature is very useful since the user is forced to be in front of the screen all the time for a trade to be made.  It's not perfect since the trader can still leave the screen with an open trade but at least the trader is aware and no new trades can be made unless there are limit orders placed.  On the other hand, automatic trading using a signal study has its benefits too.  One major benefit is to removes the emotion out of trading and avoid second-guessing the market, which is almost an impossible thing to avoid but essential for a successful trader.  So, for completeness it would be even better if the discretionary trading can be tied to a study in the following way.  It would semi-automate the strategy but still keep things under human control to minimise the risk if a disaster.  It would also help to reduce the emotion of trading.
Allow orders generated by a signal study to activate visually the appropriate button on the DOM window.  The trade is not made until the user confirms it by clicking on the highlighted button itself.  If the user doesn't hit the button within a predetermined time (which can be infinite) or another trade is automatically generated or manually selected the button is reset and the initial trade is missed. This would be a nice feature to put in a future release, say version 8 of MC.

Steps to reproduce this issue

Not possible now

Comments (1)
#0
user-offline.png  Stan_MultiCharts (Stan_MultiCharts)
May 16, 2011 - 16:00

Dear Janus, 
"Require order confirmation" has been available since we built manual trading. You need to right click on the chart, go to Format Chart Trading > Common settings tab and tick the Require Order confirmation. If the user doesn't click OK, the order will not go through.

History
Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    MultiCharts 7.0 (RELEASED)
  • Status
    Released
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (3)
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
  • Severity
    Normal
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