Minimum distance for order placement

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Viewing 11 posts - 1 through 11 (of 11 total)
  • 02/26/2018 at 2:03 PM #63963
    Despair

    I had it several times that a strategy was stopped because it tried to place an order too close to the current market level. Can somebody tell me where I can find this minimum distance for all assets? Right now I aways have to wait for the error to happen to get this info from the error message. :-S

    02/26/2018 at 3:23 PM #63977
    Eric

    They change it from time to time when volatility changes, news etc

     

     

    02/26/2018 at 8:48 PM #64020
    Despair

    I think I remember that I saw it somewhere. I think one can look it up. I just don’t know where.

    I figured out so far that it is 10 points for the FTSE and 4 points for the AEX.

    02/27/2018 at 11:54 AM #64038
    Eric

    I think the only way to see it is in realtime?

    I once suggested that proorder should automatically adjust the stop to the min distance when the tradingsystem try to place it to close

    If min level is 12 000 and ts try to place it at 12 001

    then proorders moves it to 12 000 and at the next bar it tries again (as always)

    (and of course if the min distance is lower then the previous stoplevel then no move)

    but its probably easier said than done..?

    02/27/2018 at 12:03 PM #64040
    Despair

    Yes, this would solve my problem but I think they will not implement it this way. They can not simply change the order limit. Anyway it would be very useful if I could find where to look up this distance so I can code in my strategies to avoid placing the stop orders too close like I did now for AEX, OMX (also 4 points like for the AEX) and FTSE.

    02/27/2018 at 1:16 PM #64045
    JC_Bywan

    Hi,

    Don’t know if there’s an existing list summarising in one place all IG required minimum stop distances for all indices and forex CFD’s, but in the meantime in case it helps for your most traded assets, it can be found one by one by looking at the order ticket on IG platform (examples circled in attached screen capture). Not something I looked at in details, so not sure if these minimum are constant for each asset and/or change with time, and account type (mine is regular old account, not the new risk limited type) among other things… Needs to be checked on ticket outside regular hours and/or other account type.

     

     

    1 user thanked author for this post.
    avatar Despair
    02/27/2018 at 2:10 PM #64049
    Despair

    Thanks Noobywan. This was what I was looking for. Sadly I have the impression that the values are NOT constant. For example it shows now for me for FTSE 4 points but a week ago one of my strategies was stopped and the error message said that the minimum distance was 10 points (I have an old account like you, no limited risk). So obviously IG is increasing this distance when volatility is high.

    That makes one wish that PRT introduces a variable were we can retrieve this value from within a strategy!

    03/05/2018 at 10:32 AM #64406
    Despair

    How ridiculous! Last week I reported this error to PRT. They answered that this could not happen, even doubting what I reported. Now it just happened again!

    Also have a look here in the forum. The last issues I reported are all unresolved!

    03/05/2018 at 10:59 AM #64410
    GraHal

    It’s doubly annoying when PRT issues updates which contain ‘bells & whistles’ (that I’ve never seen anybody on here ask for?) whilst at the same time we are screaming for attention to everyday frustrations that are crippling us!?

    I see PRT are advertising for staff, a quick glance a few days ago most positions I recall as Sales … maybe PRT Business Model is the ‘bucket with a hole’ … keep topping up to compensate for leaks (existing customers trying competitor Platforms)?

    03/05/2018 at 11:06 AM #64413
    Despair

    I just almost always get the reply “A more in dept analysis of your problem is necessary. It was forwarded to level 2 support…” but afterwards I so far NEVER EVER (not a single time) got any answer from this level 2 support. The problems that I report simply remain unsolved and occur again and again.

    It is even more so that I get the feeling PRT doesn’t take me serious. They more then once doubt that the errors occur. If I don’t give them permission to decrypt my code they just blame the problem on my code although every time I gave them permission to decrypt it they didn’t find a mistake in it! Never ever!

    I honestly wished I had chosen another platform at the beginning and wouldn’t have been attracted by PRT’s nice looking GUI and the ease of the language. 🙁 Once again the life lesson to be learnt here is obviously – there are no shortcuts to success. Don’t chose the convenient way, choose the right one!

    1 user thanked author for this post.
    avatar GraHal
    03/05/2018 at 11:47 AM #64418
    GraHal

    I’d love to know how many in the PRT Dev team are / have been Traders?

    It’s as if the PRT Dev Team are more interested in creating their own pet features?

    Getting the basics right, listening to existing customers and keeping them happy should be a high priority!?

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