Getting Started with AutoTrading: Difference between revisions

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-Implementing automated trade execution involves:
+== Setting Up Auto Trading in MultiCharts ==
-# Setting Up the Order Execution Gateway, and
+# Determine the symbol to plot on a chart.  In QuoteManager, verify that that the '''Price Scale''', '''Min Movement''', and '''Big Point Value''' settings for the symbol are correct.  MultiCharts will have the correct settings for most of the symbols, but it is not possible to cover every symbol.  If these settings are not correct, then the chart will not plot properly and orders may be rejected by the execution gateway.  To learn more, see [[Setting Properties]].
-# Setting Up Auto Trading in MultiCharts
+# Create a chart of the necessary symbol.  To learn more, see [[Creating Charts]].
+# Add the necessary signals to the chart.  To learn more, see [[Using Studies]].
+# Set signal and strategy properties.  To learn more, see [[Signal Settings]] and [[Strategy Properties]].
+# Open the '''Strategy Properties''' window.<br><br>To open the '''Strategy Properties''' window:
+## Open the '''Format Objects''' window.<br><span>{{FormatObjectIS}}</span>
+## Select the '''Signals''' tab.
+## Click '''Properties''' to open the '''Strategy Properties''' window.<br><br>
+# Select the '''Auto Trading''' tab.
+# Select the '''Require order confirmation''' check box to have the opportunity to confirm or reject each order before it is sent to the execution gateway.
+# Select '''Replace to Market Partially Filled Orders''' check box to automatically convert the remaining portion of a partially filled limit order into a market order.  For example, there is a sell limit order above the market price for 10 contracts.  The trading price touches the sell limit price, but pulls back.  Six of the contracts are filled and the remaining four contracts are unfilled.  MultiCharts will convert the sell limit order for the remaining contracts to a sell market order at the close of the bar.  (e.g., If the chart is plotting 5 minute bars, then the remaining portion of the limit order will be converted to a market order at the close of the 5 minute bar.)<br><br><div style="background-color: #E3FBE5;">Note: Since Multicharts 11 Beta 1 this option has been replaced with the [[Auto_Trading#Partially_Filled_Orders_Replacement|"Partially Filled Orders Replacement"]] controls.</div><br>
+# Select the '''Show order execution status''' check box to have a status message displayed every time an order is sent, canceled, filled, or rejected, or any other informational message is received from the gateway application.<br><br><div style="background-color: #E3FBE5;">Note: Since Multicharts 9.0 this option has been disabled.</div><br>
+# Select the '''Audio Alert''' check box and choose a sound file to activate an audio alert every time a notification window appears.
+#: Selecting an Alert Sound File:
+## Enter the path and name of the wave (.wav) sound file to be used into the '''File''' text box, or click the '''...''' http://www.multicharts.com/img/wiki/portfolio/ellipse.gif button on the right side of the text box for '''Open''' dialog box, navigate to and select a sound file, and click the '''Open''' button.
+## Click the '''Test''' button to test the alert.
+## Select '''Play Once''' or '''Repeat''' for the alerts to be played once or repeatedly, respectively.
+# In the '''Price Orders Emulation''' section you can switch between native and emulated Stop, Limit and Stop-Limit orders. This feature requires real-time data subscription on your broker account.
+#* '''Native orders''' are server-side orders. As soon as an order is sent to the broker, it is managed by the broker.
+#* '''Emulated orders''' are managed in MultiCharts, and when the price conditions are met, MultiCharts sends a market or a limit order to the broker.
+# In the '''Mode Selection''' section, there are two options: synchronous and asynchronous [[Understanding Automated Trade Execution|mode]].
+## In '''synchronous''' mode '''[SA]''' one can see the same open market position and active orders on the chart as at broker. All orders generated by historical calculation during Backtesting are wiped out from the chart when auto execution is turned on. Executed order is displayed only if it has been executed at broker and the final status of the order has been received by MultiCharts. To use synchronous mode for auto trading select '''Entries/Exits are based on the execution confirmation by the broker (Sync)'''.
+## In ''' asynchronous ''' mode ''' [AA] ''' the strategy on the chart starts auto trading based on the historically calculated orders and open position, displaying all generated by the script orders on chart even if an order was not executed at broker. In AA strategy on chart acts separately from broker.<br>To use asynchronous mode for auto trading select '''Entries/Exits are independent of the execution status at the broker (Async)'''.
+#: To learn more, see [[Auto_Trading#Mode Selection|Mode Selection in Auto Trading Mode]].
+# In the '''Assign Initial Market Position to Strategy''' section choose the initial position.
+## Select '''Flat''' to set the initial position to 0.
+## Select '''From Chart''' to set the initial position to the position that's on the chart.
+## Select '''From Broker''' to set the initial position the same as actual position at the broker.
+## Select '''Always show dialogue window''' to display a dialog box to input the initial position and average entry price.  This dialog box will appear when auto trading is turned on in the chart (see last step).
+## Select '''Show dialogue window only if market position on chart is different from broker''' to display a dialog box to input the initial position only when there is a difference between chart position and broker position.
+#: If AA is selected, the '''Show dialogue window only if market position on chart is different from broker''' option is replaced with '''Show dialogue window only if market position on chart is not flat'''.
+#: To learn more, see [[Auto_Trading#Assign the Initial Market Position at the Broker Settings|Synchronization of Market Position in Auto Trading Mode]].
+# Choose the broker/gateway from the list box in the ''''''[[Auto Trading#Select Broker Plug-in|Select Broker Plug-in]]'''''' section.
+# Click '''Settings'''.
+# Input the settings for the appropriate broker/gateway.
+<categorytree mode=pages  showcount="on" depth=2>Broker Plug-ins</categorytree>
-<br>
+== Turning on Auto Trading in MultiCharts ==
-== Setting Up the Order Execution Gateway ==
+#Turning on auto trading on the chart
+#* SA Mode
+#*# Select the [[Auto_Trading#Distinguished Features of Auto Trading|Auto Trading Status Switch]] and select '''Automate Order Execution'''.
+#*# Make sure that the proper Broker Plug-in is selected.  You can click on the name to access its properties. If the wrong Broker Plug-in is selected, then please click '''No''', and select the correct one in Auto Trading settings.
+#*# Read the disclaimer and click '''Yes'''.
+#*# The button will turn green which means auto trading is on.
+#* AA Mode
+#*# Select the [[Auto_Trading#Distinguished Features of Auto Trading|Auto Trading Status Switch]] and select '''Automate Order Execution'''.
+#*# Make sure that the proper Broker Plug-in is selected.  You can click on the name to access its properties. If the wrong Broker Plug-in is selected, then please click '''No''', and select the correct one in Auto Trading settings.
+#*# Read the disclaimer and click '''Yes'''.
+#*# If '''Show the Assign the Initial Market Position at the Broker dialogue''' was selected earlier, then a dialog box will appear.<br>Enter the initial market position and average entry price. Then select '''Yes'''.
+#*# The button will turn green which means auto trading is on.
+#Turning on auto trading from main menu
+#* SA Mode
+#*# Select '''Format''' from the main menu.
+#*# Select '''Automate Order Execution'''.
+#*# Make sure that the proper Broker Plug-in is selected.  You can click on the name to access its properties. If the wrong Broker Plug-in is selected, then please click '''No''', and select the correct one in Auto Trading settings.
+#*# Read the disclaimer and click '''Yes'''.
+#*# The button will turn green which means auto trading is on.
+#* AA Mode
+#*# Select '''Format''' from the main menu.
+#*# Select '''Automate Order Execution'''.
+#*# Make sure that the proper Broker Plug-in is selected.  You can click on the name to access its properties. If the wrong Broker Plug-in is selected, then please click '''No''', and select the correct one in Auto Trading settings.
+#*# Read the disclaimer and click '''Yes'''.
+#*# If '''Show the Assign the Initial Market Position at the Broker dialog''' was selected earlier, then the dialog box will appear.  Input the initial market position and average entry price.  Then select '''Yes'''.
+#*# The button will turn green which means auto trading is on.
-Please choose the order execution gateway and follow the instructions.
+== Turning off Auto Trading in MultiCharts ==
+#Turning off auto trading from the chart
+#*# Select the [[Auto_Trading#Distinguished Features of Auto Trading|Auto Trading Status Switch]] and deselect '''Automate Order Execution'''.
+#*# If there are orders pending, a dialog box will appear to ask if pending orders should be cancelled.  Select '''Cancel Orders''' or '''Do Not Cancel Orders''' to proceed.
+#*# If there are open positions, a dialog box will appear to ask if open positions should be closed.  Select '''Close Positions''' or '''Do Not Close Positions''' to proceed.
+#*# The Auto Trading Status Switch will turn gray which means auto trading is turned off.
+#Turning off auto trading from the main menu
+#*# Select '''Format''' and deselect '''Automate Order Execution'''.
+#*# If there are orders pending, a dialog box will appear to ask if pending orders should be cancelled.  Select '''Cancel Orders''' or '''Do Not Cancel Orders''' to proceed.
+#*# If there are open positions, a dialog box will appear to ask if open positions should be closed.  Select '''Close Positions''' or '''Do Not Close Positions''' to proceed.
+#*# The Auto Trading Status Switch will turn gray which means auto trading is turned off.
-<br>
+== Enabling and Disabling Auto Trading on Multiple Charts ==
-=== Setting Up FXCM ===
+Since MultiCharts 14 it is possible to enable automated trading on all charts from all of the currently open MultiCharts desktops.<br>
+To ''turn on'' auto trading on several charts:
+# Select '''Format''' from the main menu.
+# Click '''Enable Automated Order Execution for Multiple Charts'''.
+Or
+# From the '''Main''' toolbar select the '''Enable Automated Order Execution for Multiple Charts option'''.
-Please refer to FXCM's documentation.
+In the opened up window put the checkmark next to the strategies/workspaces/desktops that you would like to enable.
+The window displays the essential information about the signals applied to each chart, the selected mode of trading (SA or AA), the selected broker plugin and the [[Auto_Trading#Assign_the_Initial_Market_Position_at_the_Broker_Settings|Assign the Initial Position]] option.<br>
-<br>
+To ''turn off'' auto trading on several charts:
-=== Setting Up Interactive Brokers TWS ===
+# Select '''Format''' from the main menu.
+# Click '''Disable Automated Order Execution for Multiple Charts'''.
+Or
+# From the '''Main''' toolbar select the '''Disable Automated Order Execution for Multiple Charts''' option.
-# Install a standalone version of Trader Workstation according to the instructions provided by Interactive Brokers.
+== Managing Active Orders and Open Positions ==
-# Start Trader Workstation and log in using a user name and password provided by Interactive Brokers.<br><br><div style="background-color: #F8F6CD;">Important: It is strongly recommended that automated order execution process is initially extensively tested using a '''Simulated Account'''.  Testing strategies and automated order execution using a real account can result in a substantial financial loss! All Interactive Brokers clients with a real trading account also receive a simulated trading account that provides real-time data and enables traders to and test the functions and features of the Trader Workstation platform.</div><br>In addition, Interactive Brokers provides a '''Demo Account''' that is accessible by people who aren't clients.  A demo account supports only some of the symbols, has limited historical data, and provides delayed quotes.<br><div style="background-color: #E5F6FF;">The user name is '''''edemo''''' and the password is '''''demouser'''''.</div>
-# In Trader Workstation, click the '''Configure''' icon on the toolbar, or click '''Configure''' in the main menu.
-# Click '''API''' and then select the '''Enable ActiveX and Socket Clients''' check box.
-<br>
+If you want to enable or disable the pending orders dialog box when turning off auto trading, select '''File''' in the main menu, click '''Preferences''' and select the '''Trading''' tab. In the section '''Managing active orders when autotrading is turned off''', choose the necessary option:
-=== Setting Up Patsystems ===
+*Cancel active orders sent by the strategy;
+*Do not cancel active orders sent by the strategy;
+*Require manual confirmation
-Please refer to Patsystems' documentation.
+If you want to enable or disable the open position dialog box when turning off auto trading, select '''File''' in the main menu, click '''Preferences''' and select the '''Trading''' tab. In the section '''Managing open position when autotrading is turned off''', choose the necessary option:
-<br>
+*Close the open position opened by the strategy;
-=== Setting Up Rithmic 01 ===
+*Do not close the open position opened by the strategy;
+*Require manual confirmation
-Please refer to Rithmic's documentation.
+<div style="background-color: #E3FBE5;">Note: If the workspace (or MultiCharts) was closed while auto trading mode was enabled on one or several charts, a dialogue asking you if you want to enable auto trading on these charts on restart. Click '''Yes''' to enable auto trading or '''No''' to open charts with auto trading disabled.</div>
-<br>
-=== Setting Up Rithmic Test ===
-Please refer to Rithmic's documentation.
-<br>
-=== Setting Up Trading Technologies ===
-Please refer to Trading Technologies' documentation.
-<br>
-=== Setting Up Zen-Fire ===
-Please refer to Zen-Fire's documentation.
-<br>
-== Setting Up Auto Trading in MultiCharts ==
 [[Category:AutoTrading]]