Difference between revisions of "Rithmic Paper Trading Broker Profile"
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| − | '''<div style="background-color: #E3FBE5;">Click [http://www.multicharts.com/downloads/tutorials/zenfire_rithmic_server_sim.mp4 here] to see the video tutorial on how to connect | + | '''<div style="background-color: #E3FBE5;">Click [http://www.multicharts.com/downloads/tutorials/zenfire_rithmic_server_sim.mp4 here] to see the video tutorial on how to connect Rithmic Paper Trading Broker Profile.</div>'''<br> |
| + | If you need '''data''' from Rithmic data source, make sure you have [[Rithmic 01|'''Rithmic data feed''']] set up. | ||
If MultiCharts sends a stop order with the price equal to current market price or better (guaranteed to be executed) it will be rejected by the broker. Therefore, MultiCharts converts such stop orders into market orders. | If MultiCharts sends a stop order with the price equal to current market price or better (guaranteed to be executed) it will be rejected by the broker. Therefore, MultiCharts converts such stop orders into market orders. | ||
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Buy Stop-Limit orders with Stop level higher than Limit level and Sell Stop-Limit orders with Stop level lower than Limit level are rejected by the broker. | Buy Stop-Limit orders with Stop level higher than Limit level and Sell Stop-Limit orders with Stop level lower than Limit level are rejected by the broker. | ||
| − | Open position Profit/Loss is calculated by | + | Open position Profit/Loss is calculated by Rithmic broker and displayed in MultiCharts. |
| − | Unrealized Profit/Loss for the account is calculated by | + | Unrealized Profit/Loss for the account is calculated by Rithmic broker and displayed in MultiCharts. |
| − | + | Rithmic does not support Native One-Cancels-Others group. In this case MultiCharts emulates OCO group on its end. Simulated OCO-group means that all OCO orders are sent to the broker, price is monitored by MultiCharts and once one of the orders is filled, other orders from this OCO group are cancelled by MultiCharts. When one of the OCO orders is filled, MultiCharts sends a command to cancel the second OCO order to the broker. Note that the second order may also be filled if price reaches its level before the cancellation is processed by the broker (see [[Trading Risks#OCO-Orders Risk|OCO-Orders Risk]]). | |
| − | ====Setting up | + | ====Setting up Rithmic Paper Trading Broker Profile==== |
| − | + | In the '''Properties Rithmic Paper Trading Broker Profile''' window (see [[Broker Profiles Overview#Managing Broker Profiles|Managing Broker Profiles]]) enter the information provided by your broker to connect to Rithmic. | |
| − | + | # Authorization section. <br/> Enter '''Login''' and '''Password''' <br/> SSL certificates path is set up by default. | |
| + | # Connectivity section. <br/> Select the required '''Gateway''' in the corresponding field. ''Do not change anything else in this section.'' <br/> The '''Reset''' button next to '''Aggregated Quotes''' is to restore default connection settings. | ||
| + | # Default Order Settings section. <br/> Click '''Lookup''' and wait a bit while MultiCharts receives '''Trade Route''' information from the Broker. It can be, for example, only one option - '''simulator''' Trade Route, or it will be necessary to select one of the Trade Routes from the dropdown menu, depending on the traded instrument. | ||
| − | + | <div style="background-color: #E3FBE5;">Note: In case Trade Route search gives no results, most likely the Login or password or other settings are incorrect. </div> | |
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| − | # | ||
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| − | + | If you’d like to use the Rithmic account in MultiCharts and in the Rithmic software simultaneously you need to enable the '''Connect via R|Trader Pro''' option in '''File''' -> '''New''' -> '''QuoteManager''' -> '''Tools''' -> '''Data Sources''' -> '''Rithmic 01''' -> '''Settings'''. If this option is enabled, it is necessary to have Rithmic software running. | |
| + | <div style="background-color: #F0F8FF;">After the broker profile is set up, you can select it for trading, see the '''[[How to Select a Broker Account For Trading]]''' guide.</div> | ||
[[Category:Broker Profiles]] | [[Category:Broker Profiles]] | ||
Latest revision as of 13:33, 2 October 2023
If you need data from Rithmic data source, make sure you have Rithmic data feed set up.
If MultiCharts sends a stop order with the price equal to current market price or better (guaranteed to be executed) it will be rejected by the broker. Therefore, MultiCharts converts such stop orders into market orders.
Stop-Limit orders: if at the moment an order is sent its stop level or both stop and limit levels are met, then it will be converted to limit order.
Buy Stop-Limit orders with Stop level higher than Limit level and Sell Stop-Limit orders with Stop level lower than Limit level are rejected by the broker.
Open position Profit/Loss is calculated by Rithmic broker and displayed in MultiCharts.
Unrealized Profit/Loss for the account is calculated by Rithmic broker and displayed in MultiCharts.
Rithmic does not support Native One-Cancels-Others group. In this case MultiCharts emulates OCO group on its end. Simulated OCO-group means that all OCO orders are sent to the broker, price is monitored by MultiCharts and once one of the orders is filled, other orders from this OCO group are cancelled by MultiCharts. When one of the OCO orders is filled, MultiCharts sends a command to cancel the second OCO order to the broker. Note that the second order may also be filled if price reaches its level before the cancellation is processed by the broker (see OCO-Orders Risk).
Setting up Rithmic Paper Trading Broker Profile
In the Properties Rithmic Paper Trading Broker Profile window (see Managing Broker Profiles) enter the information provided by your broker to connect to Rithmic.
- Authorization section.
Enter Login and Password
SSL certificates path is set up by default. - Connectivity section.
Select the required Gateway in the corresponding field. Do not change anything else in this section.
The Reset button next to Aggregated Quotes is to restore default connection settings. - Default Order Settings section.
Click Lookup and wait a bit while MultiCharts receives Trade Route information from the Broker. It can be, for example, only one option - simulator Trade Route, or it will be necessary to select one of the Trade Routes from the dropdown menu, depending on the traded instrument.
If you’d like to use the Rithmic account in MultiCharts and in the Rithmic software simultaneously you need to enable the Connect via R|Trader Pro option in File -> New -> QuoteManager -> Tools -> Data Sources -> Rithmic 01 -> Settings. If this option is enabled, it is necessary to have Rithmic software running.
