Support Board
Date/Time: Sun, 24 Nov 2024 10:46:36 +0000
Post From: Attached Order question/problem
| [2013-10-19 13:31:09] |
| User30668 - Posts: 108 |
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Yesterday, in live mode, it acted different though. At the moment the 50% target got filled, the stop order was cancled/deleted automatically leaving me with an unprotected 50% of the initial position. I then manually added a stop and target for the remaining position.
How can this behaviour be explained? Am I doing something wrong here? Strangely it's working in SIM mode?! Tobi_FX SC simulation mode works differently than IB live mode in some aspects. When you need to trade in simulation you should use IB paper account connected to SC. IB paper account has the exact same behavior as the live account. This way you can reproduce all the conditions you will encounter when live trading. Even the orders fills are very realistic. With SC Simulation mode, the attached orders are solely managed by SC software. With IB live or paper account, if you have the “Interactive Brokers Managed OCO option” enabled in SC, your attached orders are pending in IB’s system. Unlike SC, IB does not automatically update the attached orders quantity separately when you scale out – it just assumes they are OCO orders so when one is filled (even after you have manually changed its quantity), the other is automatically fully cancelled. Nevertheless, I wouldn't advise you to disable the “Interactive Brokers Managed OCO option”; if you do, your attached orders will be pending in SC (in your computer) whereas if you keep that option enabled those orders will be in IB's servers. This is very important to prevent having an open position without protective orders in the case for some reason you lose the connection to IB, lose your internet connection, have a system crash or have a problem with your hardware. And it happens… What I would suggest is, instead of reducing the quantity of the attached target order and using it to scale out as you are doing, you could just move the target order (without changing its quantity) further away for a price of your convenience and place an exit order with the quantity and at the price you want to scale out. This way you will always have both your attached stop / target orders pending and their quantity will be updated for the same quantity of the remaining position. If you decide to experiment my suggestion, just make sure that you first place your target order far enough from the "scale out order", to avoid both of them being filled at the same time in case of a price spike. If this happens you will end up with a reversed position... I hope this helps. Date Time Of Last Edit: 2013-10-19 13:47:39
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