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I used TS 7.x earlier - have no access to TS8. EL doesn't have stop
limit order. As a result, you can't place a stop limit order from an
automated strategy - period.
Actually it gets worse, in case you haven't noticed, and assuming TS
haven't changed their way of handling stops. TS holds your stops
*locally*, in your machine, and only wakes up after your stop has
already been hit. Then
a) Order is transmitted to TS brokerage (as @market, as you have seen)
b) I suppose TS checks your margin & what not
c) TS brokerage sends order to .....
etc. etc. etc.
till it becomes live in GLOBEX. It all probably happens very fast, but
it can be better.
Atleast, when you are entering order through matrix / order bar, the
order goes outta your machine immediately.
Now that I have told you the problem in a little bit detail, there are
solutions. All of which involves saying bye bye to TS brokerage. You can
use stuff like dynaorder.com, trademagic.net or tradebolt to take the
TS8 generated order and send it to some other brokerage, like IB /
MBSystems / Pat Systems etc.
Abhijit
PS : Just remember, and I am always amazed at how many people I have
talked to don't seem to grasp this : IF you are using TS brokerage, and
have a stop to enter, or worse, exit to save your rear, no one in this
world knows you have a stop on but you. And when your isp / machine /
whatever dies on you, no one would ever know either. Be careful.
Bill Strayer wrote:
Greetings...
From looking over the on-line documentation and from
experience
yesterday when I first ran my strategy in the real
world (not in this order...
ha ha), I believe I'm unable to send Stop Limit orders
from within a
strategy, am I right?
My Sell order on the e-mini Russell included a stop
price, but once
triggered I saw it show up on the Trade Manager as a
market order. And, I
subsequently got filled at an undesirable price. Not
what I need!
Does anyone have any insight on how I solve this
issue? Or must I enter
orders manually via the Matrix to ensure Stop Limit
orders within TS? I
kind of find it hard to believe this is my only
choice.
FYI...I'm using Trade Station 8.
Thanks in advance for your helpful advice.
Best regards,
Bill
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