Order type stop-limit
Author: atlas190
Creation Date: 10/2/2008 1:38 PM
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atlas190

#1
Hello every body !

I am newbie and I have any questions on the wealth-lab-developper product ...

For example is it possible to put the "stop-limit" order type ?

QUOTE:
Stop - Limit A Stop Limit order becomes a limit order once the specified stop price is attained or penetrated.


http://www.interactivebrokers.com/en/p.php?f=orderTypes&ib_entity=llc#stoplimit

It seems this order is missing in the listbox "order type" of the order manager ...Right ?!...

What's the solution ? Thanks ....
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Cone

#2
No solution. A stop limit doesn't make sense for backtesting (the order would always execute at the stop market price), so it was never implemented for automated trading - although I agree that it would be a nice enhancement for that purpose.
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Eugene

#3
Welcome to the board.

Unfortunately the search facility is right now is being revamped, otherwise you'd probably found this solution for backtesting, for example:
Why no Stop Limit orders in WLD?

However, perhaps it's not very practical to discuss auto-trading with stop/limit orders at the moment because:
1) auto-trading in Developer V5 (associated with this sub-forum) is not supported,
2) in the version you're actually looking at (which is WLD4 -- the Order Manager tool is called differntly in V5), placing orders with IB is only possible for legacy clients who obtained the IB broker adapter before June 2004.
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Cone

#4
Note, though, that fundtimer's BuyAtStopLimit function is for backtesting only. There is no way for Wealth-Lab to place that order in real life.

Also this line needs to be changed in the function to prevent an error from occurring if the signal is executed on the last bar (since Bar + 1 should be passed to that method):

CODE:
Please log in to see this code.
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atlas190

#5
Apparently this order type has been asked ...There is a reason .
Thanks ...
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Cone

#6
QUOTE:
Apparently this order type has been asked ...There is a reason .
Keep in mind that this forum and site is run and moderated by MS123 LLC, a third-party who Fidelity licenses to support and resell Wealth-Lab prodcuts. We do not determine what goes into the product, so unless Fidelity customers call and request/demand that this feature be included for automated trade entry, it's never going to happen.