ProOrder stopped – stop below minimum distance (IG Index)

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Viewing 15 posts - 1 through 15 (of 56 total)
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  • 06/22/2022 at 9:25 PM #195896
    Giddy

    Hi,

    Has anybody else had issues this week with systems being stopped because “it tried to place a stop order below the minimum distance required by your broker”?  System has been working fine for 1+ year with approx a 0.7% stop loss on major currency pairs but stopped yesterday and again today. Is this just IG widening the minimum stop distance due to FX volatility?
    Thanks, Andrew

    06/22/2022 at 9:41 PM #195898
    GraHal

    My theory is that at times IG’s ‘book is unbalanced enough‘ to trigger a ‘no more positions to be opened  scenario’ and so we end up with a rash of Rejected Orders accompanied by various error messages?

    I go fine for weeks with no Rejects, then one fine day I may 5, 6 or more Rejects.

    Above seems to happen most at market turning points and high volatility.

    So yeah, likely in your case, it was minimum distance at some crazy value to prevent new positions being opened?

    1 user thanked author for this post.
    avatar Giddy
    06/22/2022 at 10:08 PM #195899
    Giddy

    Thanks for your reply…frustrating! Maybe the system is just working too well and they don’t like it! I could widen my stops but don’t want to take on too much risk.

    06/23/2022 at 8:51 AM #195914
    GraHal

    Are you ticking the box to enable ‘Readjust Stops’ on the TS start screen … it does reduce the number of instances of Rejects for Min Dist … see attached at pink arrowhead, also see info box if you hover over the blue bubble.

    1 user thanked author for this post.
    avatar Giddy
    06/23/2022 at 11:46 AM #195944
    Giddy

    No, I wasn’t. Thank you for that – will give it a go. Slightly concerned that I could be accepting a crazy stop distance without knowing. Might try it with one or two strategies to start with. Really appreciate your help 👍

    1 user thanked author for this post.
    avatar GraHal
    06/27/2022 at 11:44 AM #196200
    Giddy

    Still having the same issue – increased drop level to 3% (way more than I would like) and ticked the box to re-adjust stops but systems all stopped again last night giving the same reason (minimum stop distance) yet the minimum stops quoted on the ‘info’ pages were 4-5 points so nowhere near 3% I was trying  to set up on the major FX pairs. Does anyone know if perhaps something has changed since middle of last week that is ‘breaking’ the code? Any help appreciated….anybody else having similar issues at the moment? Thanks.

    06/27/2022 at 12:25 PM #196205
    PeterSt

    Giddy, I am seeing “distance” messages of over 300 points on Dasdaq (12000 points). But mind you, this is a “very high spread time”. I could consider this normal, although I would not know a way how to deal with it decently. Yes, don’t trade at those times (which is what is what I use in Live). What you see below is Demo and Amsterdam time.

    The second screenshot shows that around closing and opening time, a lot goes wrong. But more importantly, in between (full day) nothing goes wrong. My conclusion because of that : it is the spread which is killing here.

    At what times does this happen at yours ?

    1 user thanked author for this post.
    avatar Giddy
    06/27/2022 at 8:13 PM #196235
    Giddy

    Hi PeterSt, my systems open new trades between 2100 and 2315 Sunday-Thursday only (UK time).  Spreads can be a little wider but since 8th May, 704 trades have successfully gone through and the systems have been working fine for well over a year – I guess 7,000+ trades in total?  20th June was the last day that positions opened successfully – now the systems have suddenly stopped.  I am trading on major currency pairs only and there has been pretty significant volatility for much of this year so far with no issues – certainly no additional volatility from 20th/21st June onwards.  As soon as orders are attempted to be placed at 2100h each day, they immediately fail.  Something strange is going on but I don’t know what.  No response so far from IG but according to their site, the minimum stop distances have remained within the parameters for my systems so I’m thinking that it may be an issue with ProRealCode somehow?  Any more ideas gratefully received – I’ve tried ticking the ‘readjust stops’ box when re-starting the systems but that doesn’t work either.

     

    Thanks.

    06/27/2022 at 10:11 PM #196246
    GraHal
    Giddy wrote:

    I guess 7,000+ trades in total?

    If very profitable, maybe you are unbalancing the books at IG?

    1 user thanked author for this post.
    avatar Giddy
    06/27/2022 at 10:25 PM #196247
    Giddy

    yeah, typically 600 ish trades per month.  Profitable but I wouldn’t say hugely so, I’m not playing with a huge pot so doubt I could be unbalancing their books?  Margin only £2-3k per night (but got a professional account if that makes much difference on FX).  Nice profit after spreads but at an average spread of 2 pts per trade, IG will have made more than I have!  If they are then netting off my trades I would think they are also be making money?  I need to understand if it is a ProOrder issue or IG issue…not sure how to ask Nicolas directly?

    06/28/2022 at 4:44 AM #196250
    PeterSt

    Can you provide a screenshot of such a message, related to “As soon as orders are attempted to be placed at 2100h each day, they immediately fail.” ? Thus not a typed message but a literal screenshot.
    I wonder whether that resembles situations I have here. And from there reason further … Or, go talk about it with my own support, would I have similar which I want to get rid of anyway.

    And can you name the Fx pair ?

    Ah … wait … I think I have a very same situation in another account somewhere. That indeed now causes any strategy to fail right away in a (my guarantee) unjustified way (this is also Fx). So let’s hope it is the same situation. Ran for 8 or so months and is now rendered useless. That is a PRT situation, not a broker’s.

    06/28/2022 at 7:19 AM #196252
    Giddy

    Attached is what I am getting for them all.  Pairs = EUR/JPY, EUR/CHF, GBP/USD, USD/CHF, EUR/GBP, EUR/USD.  All worked fine until last week.

    06/28/2022 at 9:12 AM #196267
    PeterSt

    Giddy, today I accidentally can’t log in in that account. So I’ll have to wait until that is solved. Grr.

    Edit : I receive(d) that error regularly but for me this is explainable (like I attempted in my previous post). The error in this other account could be the same and if that is so it is something tangled up in PRT.
    Will let you know the soonest.

    1 user thanked author for this post.
    avatar Giddy
    06/28/2022 at 12:31 PM #196299
    PeterSt

    Account is working again. But the message is a different one (leverage required exceeds the maximum allowed (which is BS)).

    How to proceed ? just CALL them by phone.  Tell them that I told it is ridiculous that they don’t respond. Not that they will know me …

    06/28/2022 at 1:23 PM #196305
    Giddy

    Call IG or PRT?  Do you you think this is a PRT or IG issue?  Cheers.

     

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