Forums ProRealTime English forum ProOrder support ProOrder stopped – stop below minimum distance (IG Index) Reply To: ProOrder stopped – stop below minimum distance (IG Index)

#232030

This is meant as a heads-up :

 

I’ve got a workaround (after working with GraHal a year or so ago) but that means MUCH fewer trades since the limit orders are so far away.

It is not totally clear to me what you mean with “since the limit orders are so far away”, but I can say this :
I almost fully stopped with Pending Orders (Stop or Limit) because they are literally killing (the systems); with dozens of systems running all together it is unmanageable. And notice that IB is even worse than IG because with IB it is just about (interface) communication. Long story short : those Pending orders don’t work out – period.

So make them market orders.

This is not as bad as people may think. But, you must approach all differently, and possibly a bit more coding skills. Also, turning a system for exits (also entries) into something with a lower timeframe (like minutes instead of hours) seems quite undoable at first, but when accomplished it works perfectly. Still it is not easy to do, and this is because of the adverse effect of, for example, trailing; you can’t make a trailing system in for example 1 second bars. Nothing will trail. Not with real trailing like IG allows to do it, and also not with self-made trailing, which is a requirement for IB (because the “auto trailing” is not allowed there.
Anyway not undoable but more difficult.

Any system which has been set up for e.g. Pending Limit Orders will make way less profit (or lose instead of win) when the Limit Order is changed to a Market Order. I have tried and retried in numerous occasions, and it always turned out that the Limit Orders were way way better. Until I decided that I did not want them any more, and started to sit back on how to adjust the consistent system as a whole. And in 100% of cases I managed to make them even more profitable.
When you think about it, it is even theoretically so that a system with Market Orders for Entry, will trade more. Why ? well, easy enough, because a Limit Order may not be filled, while a Market Order usually is (only in very rare occasions it is not) – and it is instantly. Thus, would you be about “more trades make more money”, then you should use Market Orders. And oh, that they glitch and that the price you get may be less anyway (think twice about this latter now – see previous sentences), would you really care if your number of trades double ?
And that is what I mean – you wouldn’t care less, BUT change the setup of your systems. This takes time of course (and creativity), but it will be worth while.

So indeed, I have no thrown out systems any more. Not with IG because of crazy distance idiocy, and not with IB for failing interface communication.
And tbh, I do have a couple of thrown outs per month with IG, but these are exactly those still entering with Limit Orders.