Automatic stop of a trading system due to max number of orders reached

Forums ProRealTime English forum ProOrder support Automatic stop of a trading system due to max number of orders reached

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  • #193805 Report

    Hi, I would like to check if my understanding of the Prorealcode manual is correct with regards to this configuration setting:  Settings / Trading / Automatic Trading / Stop due to number of orders.

    For simplicity I am making an example where different strategies run on the same account and they all use stop orders and limit orders (but not training stop).

    1. this parameter setting (stop due to…) is cross strategy, meaning: it reads ALL pending orders and executed orders generated by ANY of the strategy in execution for a given account. If you have 3 strategies in parallel execution, each of them contribute to the count.  Yes / No?
    2. Completed trades  = the count will be:  1 for the opening order (executed) + 1 for the closing order (executed) = In total 2. Yes / No?
    3. Trades in execution = the count will be:  1 for the opening order (executed) + 1 for the stop order (in process) + 1 for the target order (in process). In total 3. But when the trade will be closed (at target or at stop), the count for this trade will go down to 2 as the not executed / cancelled orders are considered.  Yes / No
    4. This counter reset to zero at 22:30 GMT (London) time, every day. Yes / No
    5. What the system does when the limit is reached. If the limit is set to 7 and there are 3 completed trades in the day (2 x 3 = 6) and a new trade is triggered by any of the strategy, the system will open a new position (and reaching 7 count) but will fail in sending the stop order and the limit order. This will trigger the automatic stop of the strategy due to order rejection. Also, the opened position may be also automatically closed (it depends on the configuration, on position and orders after the stop of a strategy). Yes / No

    I hope it was clear. This is a very important functionality to limit the risk of opening too many positions at the same time, when running many strategies in parallel.

    Thanks for your kind and patience support.  Gaby

    #193812 Report
    JS

    Hi @Gaby

    Answers based on my understanding of this configuration setting:

    1. No, each trading system stands on its own and there is no communication with other trading systems.
    2. Yes
    3. Yes
    4. This depends on the opening hour of the market on which you trade.
    5. Yes
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