positions opened and no stop loss or anything?
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- This topic has 7 replies, 4 voices, and was last updated 5 years ago by GraHal.
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04/01/2019 at 7:58 AM #95151
Hi, i woke today to see that i had 4 trades going on and 4 strategies that where suddenly stopped with the error msg saying:
“This trading system was stopped due to an external event such as a modification of an order or position opened by a trading system from an interface other than ProOrder. Please carefully check your positions and pending orders.”
I had my account (i think at least) “moved” (because of brexit) this friday and i think it might be because of that?
I had 2 open positions with NO stop loss!!!! Which is a total nono! (strategies im talking about have been working fine for a long time now…
is there any way i can pinpoint what has happened here?
04/01/2019 at 10:28 AM #9518504/01/2019 at 11:34 AM #9519804/01/2019 at 1:43 PM #9521204/01/2019 at 10:06 PM #9526404/01/2019 at 10:35 PM #95265Have you not got the box ticked to close trades when strategies are stopped?
Personally I would rather leave a trade open on the market and then manage it manually if a strategy suddenly abandons it. The chances of a live strategy stopping just before a major crash or major market change in direction are very small – however having a trade in a loss for a while is a high probability. With the email alerts we can now get when a strategy stops a strategy a trade is unlikely to be left unobserved for very long and once alerted we can manage our own risk by setting TP and SL but if we just let the platform close it no matter what then we are playing roulette and in roulette we will always lose. I prefer to choose when a trade closes whether that be manually or automated.
Often in demo when a trade gets orphaned when it is in a loss I just set a TP of a tiny profit and a SL below a recent low and almost always I get out with a small profit. At least I am deciding my risk rather than just having a trade closed in a loss due to technical issues.
04/02/2019 at 7:26 AM #9528204/02/2019 at 7:42 AM #95284The chances of a live strategy stopping just before a major crash or major market change in direction are very small
I do agree with your logic of your full post above and I have run with both ticked and unticked in the past.
Another factor is that loads of the 12 Rejects in a row / Strategy stopped seem to happen at periods of high volatlity and so could well be before a minor, but sizable rise or fall.
Assuming that we have TP / SL / Exit conditions and the strategy has not reached those yet (else it would have exited naturally) then maybe best to auto-close than be left without Stop Loss as Jebus was … especially as it may be in a period of high volatility.
Another factor is Timeframe. Most of mine are intraday and lots at 1 min / 5 min TF so a running profit or loss would generally be a lot lower than the values seen on Daily Timeframe (as I think most of yours are Vonasi).
Another factor ( 🙂 ) is do we want to be woken in the night by an email alert about a strategy that was closed by external event??
Just a few thoughts anyway, like a lot of trading practices … there often is no right or wrong way to go?
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