In the strategy code, every tick you would check to see if you have a position (which is easy to keep track of), and check the price, and set position to 0 if outside your criteria.
As a kind note not meant to insult anyone - rather, to keep people from making a costly mistake, JBookTrader is NOT for people who aren't experienced programmers. On Sat, Nov 20, 2010 at 2:11 PM, Eyal <[email protected]> wrote: > Following question regarding market order - how exactly I can fill an > order and assign an exit condition - for example if stock price go > under X sell the stock automatically. > 1. Can I set such condition in JBookTrader (and how...) > 2. Do I need to do it by myself every second (means that I will verify > stock price in my indicator class and will open the counter position > that will close the already opened one?) > > > > On Nov 11, 5:26 am, skunktrader <[email protected]> wrote: > > LMT != STP > > > > > > > > > > > > > > > > Astor wrote: > > > Limit orders do not necessarily protect you from excessive volatility. > Your > > > limit order becomes market order when the limit is touched but there is > no > > > guarantee that that the execution will be at the limit price. If price > gaps, the > > > execution can be quite far from the limit. > > > > > ________________________________ > > > From: ShaggsTheStud <[email protected]> > > > To: [email protected] > > > Sent: Wed, November 10, 2010 1:18:17 PM > > > Subject: Re: [JBookTrader] market order vs limit order > > > > > I think it would be good practice to limit 5 ticks away (some number > that is > > > both big enough, and small enough), and if that fails, halt trading. > I'm not > > > sure if it is worth the effort, though. It might also be good to halt > if the > > > spread gets too wide. > > > > > On Mon, Nov 8, 2010 at 3:37 AM, Eugene Kononov < > [email protected]> wrote: > > > > > >On Mon, Nov 8, 2010 at 2:21 AM, Jian <[email protected]> wrote: > > > > > >hey jbooktrader > > > >> I saw all orders created by jbooktrader are market orders, not > limit orders. > > > >>Is there any risk of doing this? for example, after some special > events, like > > > >>fed meeting note announcement, the price is change very rapidly, is > the > > > >>following situation possible: jbooktrader decides to buy or short at > a price, > > > >>then place a market order, then filled with a price that's far away > from the > > > >>expected price? > > > > > >In my live trading, IB executions were from 150ms to 600ms. The > slippage is > > > >virtually 0, that is, the fill price is nearly always the same as the > expected > > > >price. I do acknowledge that under some extreme market conditions, the > slippage > > > >may widen, but I think the probability of that is quite low. The limit > orders > > > >are not without the risks, either: think about chasing the market with > a limit > > > >order endlessly, thus incurring a bigger loss compared to the one > taken with a > > > >market order with some slippage. > > > > > >-- > > > >You received this message because you are subscribed to the Google > Groups > > > >"JBookTrader" group. > > > >To post to this group, send email to [email protected]. > > > >To unsubscribe from this group, send email to > > > >[email protected]<jbooktrader%[email protected]> > . > > > >For more options, visit this group at > > > >http://groups.google.com/group/jbooktrader?hl=en. > > > > > -- > > > You received this message because you are subscribed to the Google > Groups > > > "JBookTrader" group. > > > To post to this group, send email to [email protected]. > > > To unsubscribe from this group, send email to > > > [email protected]<jbooktrader%[email protected]> > . > > > For more options, visit this group at > > >http://groups.google.com/group/jbooktrader?hl=en. > > -- > You received this message because you are subscribed to the Google Groups > "JBookTrader" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to > [email protected]<jbooktrader%[email protected]> > . > For more options, visit this group at > http://groups.google.com/group/jbooktrader?hl=en. > > -- You received this message because you are subscribed to the Google Groups "JBookTrader" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/jbooktrader?hl=en.
