Block an order in Auto-Stage when Quote tool triggers an entry?
Author: abegy
Creation Date: 9/30/2011 5:33 AM
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abegy

#1
I would like to know if there is a possibility to block an order in autostage or adjust it when Quote tool triggers an entry ?
What I would like to do is the following strategy : if trigger drops too fast from the previous one do something (cancel orders, change trigger price, check for RSS news...)
For me it is important to be able to "control" Quote tool because with the hypertrading, everything goes to fast and you can lose a lot of money.

If this possibility does not exist at this time, can you think for the next version to add the possibility to run a script before the "Autostage" instruction ?
Thanks in advance
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Cone

#2
Interesting idea, but probably too complicated to do for one customer :) (And there's 0 chance to add anything for the next version.)

You can edit Auto-Staged orders by double-clicking them in the Orders tool. Auto-Place is a different story.
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abegy

#3
I can wait for the next next version if you prefer :). As you have understood, I would like to "control" automatically the way that I need to send my order.
And of course, It could be interesting to offer the same possibility in the Order tool to "control" active/filling/cancel orders. The idea is also to modify the active order to manage specific market configuration (ex. : if index drops...).
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Cone

#4
How about just running your strategies in the Strategy Monitor with intraday data for that?
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abegy

#5
Just one question regarding your remark : Can I use Strategy Monitor with a EOD dataprovider like Reuters Datalink connected with the IB Streaming connector when you will realize it ?
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Eugene

#6
Strategy Monitor uses static data, so no use of streaming data there. If Reuters Datalink means Metastock, it probably won't work in SM (does not support on demand requests).
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abegy

#7
So. It's that why it can be very interesting to think to add a new feature in the Quote tool to execute a script before autostage/autoplace
Same in the Order tool to manage "Active/cancelled" orders.
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Cone

#8
So that you don't your hopes up, this idea about running a script following a trigger from the Quote tool is not going to happen. If you need to run a strategy intraday, then use intraday bars. You can incorporate an EOD strategy using intraday data. That's what the Scaling functions are for, like SetScaleDaily(). Set your limit price for the day and let the script run on 1-minute bars. Depending on the result, you can place the limit signal or withhold it. This is very simple to do right now.

Also, the big change coming in 6.3 is actually in the Strategy Monitor design for intraday - it gets another interface for Streaming Providers.
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abegy

#9
Ok. I will wait to see the new version.
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Cone

#10
You don't need the new version to create the intraday version of your EOD script.
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abegy

#11
One more question : what is the minimum time for quote tool to request/receive new data ? Less than 1 minute ? I ask you this question because with the strategy monitor, we cannot run a script with less than 1 minute.

When you know that profesionnal operates on the market with less than 1 second, we have a disadvantage.
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Eugene

#12
The Quotes tool operates through currently selected Streaming provider. It is a real-time, streaming tool - unlike the Strategy Monitor as of version 6.2.
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abegy

#13
Thank you !
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