Odd / Annoying happenings while using PRT Platform
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Yes I agree, but if another order is in the process of being filled on another System then that’s life, this is what happens!
What I see or feel is that the message tells you that you are waiting for yourself (thus I see that it never relates to others). My message (yours too I suppose) literally tells “If you want to talk about this, call support”.
This is a typical message which (for me) appears one time only and immediately after (the order) always goes through.
What you see below as a virtual example, will not be “the” situation, but you can imagine something with it. The real example will be at buying (getting in to the market) with two orders from you, at – or very close to – the same price. It will all be as you tell, GraHal, but it is you doing it to yourself (with two orders fighting for that same price) and it won’t be related to others. That is, not when this message occurs.All as how *I* see it, from empirical observation. And I never “called support to talk about it”.
And oh, while this is live, I see no reason why this should not happen in Demo as well. Maybe even quicker ?1 user thanked author for this post.
Learning better and better how IG operates (call it manipulates), here’s another example of last night.
Bars you see are 1 minute. Price (after Fed) rises relatively steeply with 200 points in 7 minutes.
Bars used are 6 seconds (thus TF is 6s).
Now each second an attempt is done to fill a Limit Buy order. This fails at the end of the bar. System is stopped etc. (mweh).I am fairly 100% sure by now, that during this stage, IG sets order filling to “manual”. There’s all sorts of hedging going on, and this is too much for the poor manual guys and gals. So they put all on hold by setting that point distance to a too crazy number, so my new order will never be filled. Wait, it is just rejected and therefore never filled.
That the system is stopped is ProRealTime’s recognizing that this is never going to work – and that I perceivably handed an erroneous program to their server. However, the truth is different – IG sets that distance to something inordinate (this system ran for 7 days with xx trades).
The sad truth is also that this system missed I-don’t-know how many good trades, all in the flow of a really great uptrend. This is – of course – not the intention of IG, but meanwhile a fact.
I am now handing this situation to PRT because it seems to me that this can be “error trapped”, because it is bar-length related. Thus, do notice that this was thrown out after 6 attempts instead of the usual 10, just because by bar is 6 seconds of length only. Is it 1 minute ? then the number of attempt allowed should be at least longer than this length, hence more than 60 times (at a rate of one per second).
In the end, I know from experience that this manual procedure at IG’s can last for over 3 minutes. So maybe it should be set time-related, the length of the bar regardless.1 user thanked author for this post.
IG switches to “manual mode” on their side, to hedge things.
My understanding – after reading an ex IG employee – is that there is an auto-monitor of the balance of the overall book. When the balance exceeds a preset figure then sufficient trades are made (outside of IG books) to offset / bring the book back into balance.
This then of course has to be the same for data or else nobody will trust the backtesting. And as you know, this always *is* the same (with me it is) unless the System really running on Live (or Demo for that matter) is thrown out (a Backtest can’t be thrown out).
If we have Systems that are (never) not Rejected in Live then the Backtest performance will more approximate to Live performance.
If we have lots of Pending Orders which are Rejected often in Live (for < minimum distance for example) then Backtest may look better?
We are in agreement btw! 🙂
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you just don’t have the experience in not gaining money because of a system thrown out
I was onmarket yesterday in Live (at the time / Feds you refer to) and so I experienced the opposite!
So what will we do when this one system thrown out could be proven to have missed a more than nice new car ? Do we say “oh well, next time another time” ?
NO, we use at Market Orders and put price levels etc (which would have been part of stop and limit orders) as part of Buy / SellShort conditions. This combined with 1 min or less TF can get us into or out of trades fast and better than getting Rejected and missing that nice new car! 🙂
I’ve done above with a few Systems in the last 10 days or so … since we have been discussing this Reject for minimum distance annoyance!
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NO, we use at Market Orders and put price levels etc (which would have been part of stop and limit orders) as part of Buy / SellShort conditions. This combined with 1 min or less TF can get us into or out of trades fast and better than getting Rejected and missing that nice new car! 🙂
Well, this obviously is a good idea theoretically. Sadly, if you backtest this – say with my system or systems – over and over it is proven that this loses a lot of money. With more time I could show it – and obviously it depends on the further construction of the ordering system – but it easily differs half of the profit. For talks let’s say that this is 10K in 6 months of any system with minimum inlay (read toying but for real). Now doing it as you suggests for Entry makes 5K profit of that. I have tried to turn this for the better countless times, but it never works out for the better.
Of course I can’t know what I miss for systems thrown out at the Entry, but let’s say that net the Limit order is better.And oh, for the Exit I am already doing that because I refuse to pay 0.5p on insurance to IG for having a guaranteed SL (this 0.5p is what it costs, no matter whether it is needed or not – the text on IG’s site as well as the help text in PRT is misleading “is only charged when needed”. This is to read as : is charged when the SL is hit).
I think I indeed started doing that per the result of our both discussion (probably in this topic) something like 6 weeks ago.Anyway, sharing things like these even lead to solutions for the better !
PS: I hope you were not Short in there yesterday ?
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