I meant that the framework does not support automatic placement of a live stop order when the position is opened. Yes, you certainly can simulate a stop order in your strategy by comparing the current price to your entry price and then placing an offsetting order. However, if your connection to IB is lost for any reason then your position is "naked".
Jian wrote: > On Sat, Nov 20, 2010 at 2:23 PM, skunktrader <[email protected]> wrote: > > > By design, JBookTrader does not support stop orders. Backtesting will > > prove that they do not improve the performance of an automated system. > > > what do you mean by 'does not support stop order'? you definitely can > simulate stop order by write some code in your own strategy. I think stop > order is not directly supported by exchange, but provided by each broker. > > > > > If you decide to add the support yourself and update a live order > > every second, you will probably get a phone call from IB within the > > hour asking why you are abusing their order entry system. > > > > Eyal 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. 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