Pro order big defect

• 12/11/2018 at 7:46 AM #86739
  rama

  I am with Ig.  spent last 3 years in writing some code which successfully making profits in demo.

  I cannot implement them in live because of the following reason

  all my set ups are with stop loss <=40

  the issue is IG changes minimum stop loss from time to time , I trade only dax which is 6 normally , dow which is 8 normal market con dings

  however on big move conditions IG changes this to up to 700 or may 1000 during this scenario proOrder places order and adjusts the stop loss to according to minimum

  say I placed with stop loss 30 , IG minimum was 450 at that time, my order is placed with stop loss 450.

  I guess pro order developed with view there wont be much volatality will be there in once year so clients wont trade on that or run the programs

  This year alone dow one day made 2500 pips fall in one day( 1300 in less than a minute) also dow made >=600 pips in small periods of times n number of times in this year.

   

  I spoke to IG people they say if the order is rejected proOrder will stop after 4 orders most of the clients dont want this because open positions will be closed.

  I propose the following

  1. you can give this option( keep open orders after stop) situation which will not affect any one
  2. increase the number rejected orders to may by 100. client will get 100 mails and he or she will do something the strategy

  with the major defect in the above scenario whole purpose of proOrder is defeated.

  

  rama

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  12/11/2018 at 8:54 AM #86746
  Vonasi

  I didn’t realise that ProOrder adjusted stops to the minimum – I don’t use stops so I’ve never noticed this.

  There are a number of options :

  • You could try using guaranteed stops by setting this when you launch your strategy. This would increase your margin and trading costs slightly though. Not sure if IG would just set your guaranteed stop to the new minimum level though. There is a discussion on guaranteed stops and ProOrder here: https://www.prorealcode.com/topic/guaranteed-stops-2/
  • You could change your platform settings to not close the trade if a strategy is stopped and also set your email alerts to tell you that it has stopped.
  • You could stop using stops and instead exit on conditions rather than prices.

  

  Vonasi

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  12/11/2018 at 9:55 AM #86749
  Nicolas

  I think that it is due to limited risk account conditions:

  • Guaranteed Stops: All ProOrder protection stops are automatically converted to guaranteed stops. On this type of stop, the level of execution is guaranteed, even if the course evolves brutally against you. = So I assume the level distance is set by IG for them to be sure that they don’t loose money..
  • The minimum stop distances are greater than the so-called “expert” accounts (current normal account), the information of this distance can be found in the instrument’s manual trading information (expressed in points or percentage for actions ).

  So that’s not related to how ProOrder proceed with the orders, but how the broker set them at market.

  

  Nicolas

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  12/11/2018 at 1:24 PM #86824
  rama

  The issue is

  my program stop is 20

  IG minimum stop is say 400

   

  when order placed it ignores my program and set the stop loss 400

  anything >=20 is not good for me. I am at loss

  

  rama

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  12/11/2018 at 1:50 PM #86827
  GraHal

  rama wrote:

  IG minimum stop is say 400

  If you are reading that min stop of 400 from that daft Platform message (400 or even 1200 per point) then it really means 4 or 12 per point as IG times prices by 100 for spread betting so all gains / losses per point are worth £1.

  If above explanation is confusing then just think on it a while … does the 400 per point message really mean the minimum distance is 400 points away from Price??

  If I think of a better explanation I’ll post it.

  

  GraHal

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  12/11/2018 at 2:15 PM #86830
  Nicolas

  A screenshot of your orders list (or a sample of it) would definitely help us understand that huge distance.

  

  Nicolas

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  12/11/2018 at 4:56 PM #86854
  rama

  This my program

  I have attached the closed order list now.

  I have set the stop loss 1 ( ideally the order should have rejected) however it placed at stop loss 6 because IG minimum stop distance is currently

  if the market is volatile example IG minimum gstop changed to 700 on last Friday 8 to 9 uk time. if this program was running at that stop loss would have set at 700 instead of rejecting the order . I hope this clarifies. we dont know when IG changes to higher value 95% of the time it is 8.

  if I run automated program if my order placement happens that time I would be trading with big stop losses which could cause hefty losses

   

  //————————————————————————-
  // Main code : MySystem(138)
  //————————————————————————-
  // Definition of code parameters
  DEFPARAM CumulateOrders = False // Cumulating positions deactivated

  BUY 1 PERPOINT AT MARKET

  set stop loss 1

  

  rama

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  12/11/2018 at 5:05 PM #86856
  Vonasi

  I don’t think that is the order list that Nicolas is referring to. I think he means the one you get by clicking on ‘Trading’ and then ‘Order List’.

  

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  12/12/2018 at 9:31 AM #86919
  rama

  in the program I have set stop loss 1

  please check the screen shot order placed with stop loss 6( that is minimum stop distance set by IG currently it is 6, some time this goes to 500 or 1000)

   

  I would expect the system reject the order whenever my stop loss < minimum stop distance set by IG. I dont want orders to go through.

   

   

  

  rama

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  12/12/2018 at 10:25 AM #86929
  Nicolas

  rama wrote:

  some time this goes to 500 or 1000

  Did you ask them why?

  

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  12/12/2018 at 10:49 AM #86933
  rama

  According to market conditions it will change

  last Friday it was 700 for dow between 8 to 9 pm UK

  I dont want to run the program other than my stop loss.

   

  it should always check IG minimum stop loss, then if my stop loss >= IG minimum stop then only place order other wise keep trying or stop

  

  rama

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  12/12/2018 at 11:04 AM #86937
  GraHal

  rama wrote:

  in the program I have set stop loss 1

  For your sanity post the line of code where you set stop loss = 1 … just to see if we have any comments?

  Then send an email to IG describing your problem, but keep it simple … just about the SL going to 6.   Attach the line of code (SL = 1) and your screen shot showing stop loss at 6.

  You have to do something positive else you will continue to go round in circles …

  If you don’t make a change today then tomorrow will be the same as yesterday ! 🙂  

  

  GraHal

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  12/12/2018 at 1:33 PM #86948
  rama

  thanks I have raised ticket through IG which will routed to you

  

  rama

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