Help please Stop distance orders being rejected?
- This topic has 12 replies, 7 voices, and was last updated 7 months ago by
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IB, in quantity, bears the same issues; AutoTrading is as decent as you can make it yourself. The difference with IB is that you are always able to reason what goes wrong and next just don’t do that any more; it can all be explained, though there is no prewritten book for it. IG is different, because they shift goal posts and you can never tell in which direction; you won’t be able to tell your cousin (?) that this was the day you could have gained a nice sum of money, but IG shut down the game because they are too busy dealing with Peter’s orders. But you can learn (her) to live with it.
But could you really ?The other day I was refreshing my son’s knowledge on this all. He had been out of this game for 4 years or so. It started to occur to me that each sentence from me, ended with but’s and don’t and maybe’s – and I started to feel ashamed. Ashamed that I actually could not present a decent “course” any more, because these days all has to be looked through special PRT glasses. This is in the realm of “don’t you like the backtesting result unexpectedly ? can you try it again ? I mean, you are working with V12, so you are in the lap of the Gods now and I don’t know“.
How can I explain to him that he better uses Market orders everywhere because … … these stories have become too long and too weird and too full of undecency. In addition they now need to come with sub-courses on how a market order is not bad at all, because … (and explain the whole shebang of what happens on the exchange and with market makers vs the others etc.).Maybe you noticed that the youth of these days will not have the rest/time to work this all out into a consistent whole which can be understood. It takes years to get it all together. Avoid the knowledge will mean that soon the monitor or laptop is thrown out of the window. And so it is best that right from the start it’s told this is part of the game.
Inv, maybe I see your prospectus (and forgive me if I see that wrongly), but you could be someone with the knowledge, your cousin having the programming skills to translate your knowledge into nice $. You know it can be done inherently and so you both sit down together. But this relatively evil world is against you both and you both can only learn how to conquer it by experience. But once you can (I feel I could be closely there myself), you will know that you do better than all those who did not master that part (yet). So there lay your chances. Remember, the edge. But this is an edge just the same. It can hardly be taught if you don’t know it yourself. But she can find out herself. If she only expects it.
I think for her it is best to learn to survive within IG because of the lower requirements, and especially because of the possibly much lower investment (like 0.5 $1 point value contracts of 18000 per piece for cash Nasdaq), like ~USD 9000. IB’s equivalent would be ~USD 36000. No need to wait for the wages-increase. One needs real-live playground. And IMO 36000 is beyond that.
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dears,
summarizing min.distances issues at IG I would say one has main 3 ways to “solve” it:
- avoid those periods
- use market orders
- move to futures trading
1: hell, I hate this option… I don’t trade news, but as @inverse mentioned: trading of all of us is affected by news. and for my part I can say it’s affected positively. and implementation of “avoiding” is close to impossible if one trades automatically (for that one would need to know a) in advance b) when and c) for how long IG will implement those min.distances), and it would be damned effort if one trades manually, especially if one trades multiple instruments.
2. well, that works… but just for certain type of strategies I would say. I was backtesting my core strategies, which trigger entry signals on 5-10-15min time frame and entries are executed with stop orders, changed them to multitimeframe, so signals were still on 5-10-15min but entries “at market” on 1min time frame. systems were still profitable, but man, over 10 years of backtesting systems were performing 20-30% worse. that is for my taste too much. okay, I could have gone down to 1 sec time frame, decrease of performance would be definetely smaller, but honestly, I personally don’t want to “challange” PRT’s/IG’s(and not even IB’s) servers with that tiny times frames… so indeed – again for me personally – changing my stop entries/exits to market orders is for majority (not for all) of my systems a no-go-solution. especially if you have the option:
3. here you simply don’t have that BS with min.distances… full stop. of course one has to be able and ready to accept all the disadvantages of futures trading in general and with PRT/IB in particular.
happy trading!
justisan
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