Thanks a lot for your your information - perhaps there will be updates of the
interface in future. My main sorrow is a Dow-Intraday-Crash of 10% as we have
seen in the past, and I need a really very fast and reliable solution for that.
For standard trading days I could also stay online all of the day and check the
order status automatically, but I even don't like that solution.
Now I'll continue to enter the conditions manually, and in the last days I saw
that this doesn't take too much time:
- Exploration is done by Amibroker and orders are sent to TWS automatically
(this is the big, bad job)
- in TWS I manually enter the condition for my orders ("Margin cushion >xx%), I
already get used to it and it just takes me a few minutes now. Perhaps it's not
so bad to do it manually to get a feeling for my orders.
- At the end I'll check the TWS order preview if everything is OK
OCA was also an good idea, but you're right that I want to hold a lot of open
positions and I never know in what order they are going to be filled. It's not
possible to group my orders in any way.
Thanks a lot for your help, I'll continue this thread if I should find another
solution (I was looking for some conditional presets in TWS that are valid for
each order but up to now I couldn't find anything).
--- In [email protected], "necroboy2" <blair.an...@...> wrote:
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> I have the same problem and have yet to find a perfect solution.
>
> There are two other options, each with their own problems...
>
> 1. Monitor the prices such that you wait until they go near your limit price
> and then submit the Limit order.
> The issue of having too many Limit orders filled can still occur as orders
> may be filled quicker than your program can react, but at least you'll have a
> fewer number of Limit orders placed as it is less likely that all prices will
> approach your target price and if they do you can constrict the number of
> Limit orders issued.
> The disadvantage is that you are less likely to get your order filled if the
> market moves quickly and if there isn't sufficient volume.
>
> 2. Use OCA (Once Cancels All) orders. Where you create a group of orders and
> if one of them fills the others cancel. Works great if you only want 1 order
> filled, but I suspect that like me you want to hold several open positions.
> I've yet to test this particular approach, but what you could do is create a
> number of OCA groups by splitting your watchlist of stocks into sub groups
> that matches the number of concurrent open poitions you wish to have.
> This of course brings up new problems where all the action for the day may
> only happen in one group, so instead of filling 3 orders (1 from each group)
> you only filled 1 and the remaing opportunities were missed as they occured
> in the group that was already filled. You can attempt to mitigate this by
> doing some statistical analysis of the watchlist and trying to evenly
> distribute the stocks that have previously shown a higher probability of
> reaching your Limit price from their current price. But even with this
> approach I'm still dubious about its likelihood of success.
>
