ramaParticipant
Senior
I am with Ig. spent last 3 years in writing some code which successfully making profits in demo.
I cannot implement them in live because of the following reason
all my set ups are with stop loss <=40
the issue is IG changes minimum stop loss from time to time , I trade only dax which is 6 normally , dow which is 8 normal market con dings
however on big move conditions IG changes this to up to 700 or may 1000 during this scenario proOrder places order and adjusts the stop loss to according to minimum
say I placed with stop loss 30 , IG minimum was 450 at that time, my order is placed with stop loss 450.
I guess pro order developed with view there wont be much volatality will be there in once year so clients wont trade on that or run the programs
This year alone dow one day made 2500 pips fall in one day( 1300 in less than a minute) also dow made >=600 pips in small periods of times n number of times in this year.
I spoke to IG people they say if the order is rejected proOrder will stop after 4 orders most of the clients dont want this because open positions will be closed.
I propose the following
- you can give this option( keep open orders after stop) situation which will not affect any one
- increase the number rejected orders to may by 100. client will get 100 mails and he or she will do something the strategy
with the major defect in the above scenario whole purpose of proOrder is defeated.
I didn’t realise that ProOrder adjusted stops to the minimum – I don’t use stops so I’ve never noticed this.
There are a number of options :
- You could try using guaranteed stops by setting this when you launch your strategy. This would increase your margin and trading costs slightly though. Not sure if IG would just set your guaranteed stop to the new minimum level though. There is a discussion on guaranteed stops and ProOrder here: https://www.prorealcode.com/topic/guaranteed-stops-2/
- You could change your platform settings to not close the trade if a strategy is stopped and also set your email alerts to tell you that it has stopped.
- You could stop using stops and instead exit on conditions rather than prices.
I think that it is due to limited risk account conditions:
- Guaranteed Stops: All ProOrder protection stops are automatically converted to guaranteed stops. On this type of stop, the level of execution is guaranteed, even if the course evolves brutally against you. = So I assume the level distance is set by IG for them to be sure that they don’t loose money..
- The minimum stop distances are greater than the so-called “expert” accounts (current normal account), the information of this distance can be found in the instrument’s manual trading information (expressed in points or percentage for actions ).
So that’s not related to how ProOrder proceed with the orders, but how the broker set them at market.
ramaParticipant
Senior
The issue is
my program stop is 20
IG minimum stop is say 400
when order placed it ignores my program and set the stop loss 400
anything >=20 is not good for me. I am at loss
IG minimum stop is say 400
If you are reading that min stop of 400 from that daft Platform message (400 or even 1200 per point) then it really means 4 or 12 per point as IG times prices by 100 for spread betting so all gains / losses per point are worth £1.
If above explanation is confusing then just think on it a while … does the 400 per point message really mean the minimum distance is 400 points away from Price??
If I think of a better explanation I’ll post it.
A screenshot of your orders list (or a sample of it) would definitely help us understand that huge distance.
ramaParticipant
Senior
This my program
I have attached the closed order list now.
I have set the stop loss 1 ( ideally the order should have rejected) however it placed at stop loss 6 because IG minimum stop distance is currently
if the market is volatile example IG minimum gstop changed to 700 on last Friday 8 to 9 uk time. if this program was running at that stop loss would have set at 700 instead of rejecting the order . I hope this clarifies. we dont know when IG changes to higher value 95% of the time it is 8.
if I run automated program if my order placement happens that time I would be trading with big stop losses which could cause hefty losses
//————————————————————————-
// Main code : MySystem(138)
//————————————————————————-
// Definition of code parameters
DEFPARAM CumulateOrders = False // Cumulating positions deactivated
BUY 1 PERPOINT AT MARKET
set stop loss 1
I don’t think that is the order list that Nicolas is referring to. I think he means the one you get by clicking on ‘Trading’ and then ‘Order List’.
ramaParticipant
Senior
in the program I have set stop loss 1
please check the screen shot order placed with stop loss 6( that is minimum stop distance set by IG currently it is 6, some time this goes to 500 or 1000)
I would expect the system reject the order whenever my stop loss < minimum stop distance set by IG. I dont want orders to go through.
ramaParticipant
Senior
According to market conditions it will change
last Friday it was 700 for dow between 8 to 9 pm UK
I dont want to run the program other than my stop loss.
it should always check IG minimum stop loss, then if my stop loss >= IG minimum stop then only place order other wise keep trying or stop
in the program I have set stop loss 1
For your sanity post the line of code where you set stop loss = 1 … just to see if we have any comments?
Then send an email to IG describing your problem, but keep it simple … just about the SL going to 6. Attach the line of code (SL = 1) and your screen shot showing stop loss at 6.
You have to do something positive else you will continue to go round in circles …
If you don’t make a change today then tomorrow will be the same as yesterday ! 🙂
ramaParticipant
Senior
thanks I have raised ticket through IG which will routed to you
