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Come on now. You sound like Chicken Little ("The sky is falling").
In automated trading stops are currently held on your machine so if your
machine dies, you may miss a stop. But if your machine dies, you are no
longer using automated trading, by definition, so you had better figure out
what you want to happen if your system goes down. You can always manually
keep a disaster stop in place if you are worried about this.
And it you want to check the status of your position in code, there are all
kinds of EasyLanguage functions that allow you to get all the values.
And you can use their macro language to program what looks like a manually
entered order of any kind if you are really paranoid.
Finally, I am told that they will have a "stop server" on their network soon
that will be able to hold the stops.
The bottom line is that if you are using any automated system, you had
better include some way to be notified if the automation stops...
Bob Fulks
At 12:19 AM 11/7/2004, Abhijit Dey wrote:
>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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