Automated trading with Interactive Broker and ProRealTime – NOW AVAILABLE

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  • 01/26/2023 at 1:01 PM #208355
    Nicolas

    Automated trading with ProOrder and IB is now possible for everyone!

    I am excited to announce that the long-awaited feature of automated trading on the Futures market is finally here! Our favorite trading software now allows users to fully automate their strategies, making it easier than ever to take advantage of market opportunities and manage their risk.

    With this feature, users can now set up their trading strategies, including entry and exit points, stop-losses, and profit targets, and then let the software execute trades on their behalf on the Futures market.

    I believe that this new feature will be a game-changer for many of our users and I am excited to see how it can help them achieve their trading goals. If you have any questions or feedback, please don’t hesitate to ask questions in this dedicated topic to automated trading with Interactive Broker..

     

    What is automated trading with ProOrder?

    ProOrder is an automated trading feature offered by ProRealTime. With ProOrder, users can create and execute trading strategies based on their own technical analysis and codes built especially to be used with ProRealTime.

    These strategies can include rules for entry and exit points, stop-losses, and profit targets. ProOrder also allows users to backtest their strategies using historical market data and optimize their parameters for better performance. Once a strategy is set up, ProOrder can automatically execute trades on the user’s behalf, allowing for more efficient and consistent trading. This can be useful for traders who wish to take advantage of market opportunities without having to constantly monitor the markets.

    Where to find automated strategies for ProOrder?

    There are many free codes available on ProRealCode forums (ProOrder sections) and in the Library. There are also paid strategies that can be purchased on the ProRealCode marketplace.

     

    What is Interactive Broker and why is it different from the current automated trading feature available?

    Interactive Brokers (IB) is an online brokerage firm that provides trading and investment services to individuals and institutional clients. The company was founded in 1978.

    Bascially, it is a broker that provide trading on Futures market and therefore uses different fees and margin requirement. The main pros are:

    Pros of Futures:

    • Lower margin requirements
    • Regulated by futures exchanges
    • Standardized contracts

    What instrument can be traded automatically with ProOrder with Interactive Broker?

    Currently, as 9 October 2023, the available instruments and their costs per contract are listed below:

    • M2K Micro-Mini Russel 5$/point Margin ~850€ Cost 0.62$/contract
    • MES Micro-Mini ES (S&P500) 5$/point Margin ~1500€ Cost 0.62$/contract
    • MNQ Micro-Mini NQ (NASDAQ100) 2$/point Margin ~2000€ Cost 0.62$/contract
    • MYM Micro-Mini DJ (DOWJONES30) 0.5$/point Margin ~1000€ Cost 0.62$/contract
    • DXS Micro-Dax (DAX40) 1€/point Margin ~1500€ Cost 0.38€/contract
      + cancellation fee
    • SXE Micro-ESTOXX50 (EUROSTOX50) 1€/point Margin ~400€ Cost 0.34€/contract
      + cancellation fee
    • All Forex pairs: Maximum 200k / Spot Gold & Silver: Maximum 80k
      Margin ~€1500-2000
      Cost min $2/order
    • DAX DAX40 25€/point
    • DXM Mini DAX 5€/point
    • NQ Mini NASDAQ100 20€/point
    • ES Mini S&P500 50€/point
    • RTY Mini Russell 50€/point
    • YM Mini DJ30 5€/point
    • ESTX ESTOXX50 10€/point
    • FCE CAC40 10€/point
    • BUND Euro Bund 10€/point
    • EURUSD, EEURUSD, MEURUSD, NG

    (updated on 09 October 2023)

    Where can I open a new trading account that allow automated trading with IB?

    You can start by browsing the below page and fill the forms:

    https://trading.prorealtime.com/en/InteractiveBrokers

    Current limitations and differences with ProOrder on CFD:

    _ no trailing stop instruction (currently being developed in order to act the same on any different broker using ProOrder) – It means that: ** SET STOP TRAILING is not possible **

    _ ProOrder codes are stopped on rollover of Futures contract – It means that: On each rollover of contract the strategy must be re-started.

    Be aware that these are temporary and will be modified for better ease in the next upcoming weeks.

    Want to know more? Questions and feedbacks are welcome below 🙂

    4 users thanked author for this post.
    avatar Inertia, avatar trading2, avatar CFD AutoTrading, avatar MAKSIDE
    01/26/2023 at 5:35 PM #208401
    PeterSt
    Nicolas wrote:

    _ ProOrder codes are stopped on rollover of Futures contract – It means that: On each rollover of contract the strategy must be re-started.

    Maybe not. But people must understand the XXXX feature. This is a kind of required for backtesting, and roll over goes unnoticed. As shown it can be traded as well.
    And it’s the real Future.

    It will take until the end of March before I can test it (first RollOver moment); I wasn’t there at the end of December (previous moment).

    01/26/2023 at 5:43 PM #208402
    PeterSt

    Something else is : The “Now Available” is a bit high-fetched.

    I know that you guys received a memo about it, but if you’d try it in an other account (not unlocked for Beta testing)- be that V12 (like you told last night) or just V11.1, it is not unlocked for the instruments you listed. So careful please :

    Automatic Trading itself might be unlocked, but the instruments are not. This can only be noticed at the handing to ProOrder.
    Of course it can be a bug somewhere.

    01/26/2023 at 5:48 PM #208404
    PeterSt
    PeterSt wrote:

    Maybe not. But people must understand the XXXX feature.

    I forgot the attachment for a kind of clarification. Those XXXX versions are named “Full”. Thus in this case Full0323 (compare with Only 0323 which require chart replacement at the roll over to e.g. Only 0623 for the next roll over after March).

    01/26/2023 at 6:01 PM #208406
    Nicolas

    You can launch a strategy between 2 rollovers, but you can also wait for the next one in order to let the strategy run longer because it gets stopped, it is as you want.

    As long as you have a valid subscription to the available instruments data, you should be able to launch a strategy in live.

     

    01/26/2023 at 6:21 PM #208416
    PeterSt
    Nicolas wrote:

    You can launch a strategy between 2 rollovers, but you can also wait for the next one in order to let the strategy run longer because it gets stopped, it is as you want.

    That was not what my subject was about, but never mind.
    And No, of course you will not want to let your system be stopped by an ending future. You want your system to be stopped when in profit.

    Btw, it is good that you mentioned this, because at IG we are not used to rollovers.

     

    Nicolas wrote:

    As long as you have a valid subscription to the available instruments data, you should be able to launch a strategy in live.

    I have subscriptions all over the place. It is not so. 🙁

     

    01/27/2023 at 8:41 AM #208440
    Nicolas

    I know many people have already successfully launched strategies through ProOrder yesterday. What instrument did you try please?

    01/27/2023 at 8:45 AM #208444
    PeterSt

    MNQ …
    (and see error message in my earlier post)

    01/27/2023 at 9:00 AM #208449
    PeterSt

    Found the culprit !!
    (thank you for the motivation in trying some more things)

    Look below. The difference is with that Full vs Only I mentioned myself in this topic. The Full (XXXX) does not work in the account where I use V12 (blue screens). The Only(0623 accidentally) does work.
    The black screen is V11.1. There the Full (the XXXX version) works and worked already (beta program). Now don’t ask me whether this can be related to the unlocking for beta and what instruments people manually (if so at all) allowed.

     

    01/27/2023 at 9:15 AM #208457
    Nicolas

    The best thing to do is to launch the strategy on the FULL contract because it is a chart that aggregates all the contracts and this will allow you later (when the strategy is stopped at the end of the contract), not to change the instrument, and to relaunch the strategy on the same instrument (the FULL).

    It is indeed not logical that it does not work on your platform, we are looking why it is not 🙂

    01/27/2023 at 9:38 AM #208464
    PeterSt
    Nicolas wrote:

    The best thing to do is to launch the strategy on the FULL contract because it is a chart that aggregates all the contracts and this will allow you later (when the strategy is stopped at the end of the contract), not to change the instrument, and to relaunch the strategy on the same instrument (the FULL).

    Yes, something like that I was trying to bring across yesterday. And merely :

    Important : People MUST use the Full (XXXX) with Backtesting. Depending on how far back in history you go, you may not notice that you are a. too far back for normal live (though history)) results and b. are not so far back that you don’t see “anything”. Look below;

    This is with the current Full contract (0323). See the dotted graph more towards the left ? this is where things really got unreliable – notice that this contract stared at 20 Dec or so but that you thus can look further back for more or less reliable results. Until it really stopped (the dotted stuff).
    The cause is of course that people can use the Future to come (start using the Dec contract in November which is allowed and works) but that in some stage it is really too early.

    The 2nd picture shows the FullXXXX and you can see that no dotted stuff is there which currently does not make sense because of the shorter time period … wait please.

     

     

    01/27/2023 at 2:04 PM #208488
    Nicolas

    No more problem with FULL contract not allowed for auto trading. Please restart platform to benefit from the update.

    1 user thanked author for this post.
    avatar PeterSt
    01/27/2023 at 4:08 PM #208501
    PeterSt

    Confirmed !

    Thank you, Nicolas.

    02/18/2023 at 2:00 AM #209878
    Pieter_T

    Hi Nicolas,

    Do you know or normal stocks and ETF’s (not Futures) for US Markets will become available for AutoTrading via IKBR in the near future? Using PRT in Australia we can only use IBKR (apart from CFD’s via IG) as broker and discussing with PRT as below:

    Message form Elvira Gelens to me on 3/2/2023:

    The Australian market with us is only with the end of the day data and not available for trading indeed.
    Also the automatic trading is not available with an Interactive Brokers account and ProRealTime at this point when you are a resident in Australia. This counts for all the markets, not only the Australian market.

    02/24/2023 at 1:08 PM #210419
    Nicolas

    It will be at some point, but I don’t know when it will be possible. For now, only the instruments described at the beginning of this topic are possible. However, we have just expanded the possible contract sizes for all these instruments.

     

    1 user thanked author for this post.
    avatar Pieter_T
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