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With TS6 there is te option of having Confirmation ON or OFF. A confirmation
box coming up when your criteria have been met, autoexecution when it is
not. In any Autoexecution program I feel that the more critical concern is
on exits. If my program just says Buy it is left up to me to decide whether
to consult me first before the execution. However, on exits it needs to be
defined how multiple exits are handled. I have transitioned from using ATR
exits to using both an ATR exit and a profit target. The TS6 platform does
fairly well alerting you if your exit criteria are met even with multiple
exits. Yet there can be hangups. If your profit target order is already
placed then it has to be cancelled before the stop order will execute.
Manual intervention is required. I haven't talked to the TS people about
this issue, but, it needs to be more accurately defined. It is a nice
feature that Stop orders don't have to be placed. When your Stop price is
reached it can be executed as long as no other existing orders are in place
for that security. The feature isn't as well defined as it needs to be for
limit orders and I need to talk with the TS people about it.
Hope that helps.
Jim Bronke
Phoenix, AZ
----- Original Message -----
From: "Volker Knapp" <vk@xxxxxxxxxxxx>
To: "Mark Brown" <markbrown@xxxxxxxxxxxxx>; <omega-list@xxxxxxxxxx>
Sent: Friday, May 17, 2002 9:51 AM
Subject: AW: Auto Trading
: Hello,
:
: It is very kind of MB to ask. Please post the answers of MBs questions
here
: on the forum or to me directly. We are planning to include ATE into WLD2
too
: very soon (as some of you know already). I did not want to bother the TS
: list with it, but since MB does post this question here, it seems to be
: "moraly" ok. We also would like to work with a few TS6 users early in our
: development stage to learn pros and cons of TS6.
:
: Best regards.
:
: Volker Knapp
: Wealth-Lab Inc.
: http://www.wealth-lab.com
: http://www.wealth-lab.de
:
: ++-----Ursprungliche Nachricht-----
: ++Von: Mark Brown [mailto:markbrown@xxxxxxxxxxxxx]
: ++Gesendet: Freitag, 17. Mai 2002 17:02
: ++An: omega-list@xxxxxxxxxx
: ++Betreff: Auto Trading
: ++
: ++
: ++Hello omega-list,
: ++
: ++Using the Pat system for order entry, what would be some pitfalls that
: ++anyone see's in letting t2k auto trade. Besides data issues, such as
: ++bad ticks and all that. What would some desired features be and what
: ++safe guards would you want to see on an auto trade software product.
: ++
: ++My thoughts are that you could have a couple of choices. One would be
: ++to let the system place the trade and then notify you what it has
: ++done. The other scenario would be to have a pop up box asking if
: ++indeed you wanted to make the trade. Maybe someone who is using ts6
: ++can comment on how they do it and what pitfalls ts6 order entry system
: ++has that needs to be fixed or improved upon.
: ++
: ++--
: ++Best regards,
: ++ Mark mailto:markbrown@xxxxxxxxxxxxx
: ++
:
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