have to agree. trading anything, at any time, without minimizing potential losses is dangerous. jbooktrader is a vehicle. the driver takes his own responsibility.
is it true that jbt doesn't have stoploss/trail trade implementation for IB? also agree that this is necessary. if it doesnt exist by the time i get around to actually looking at code, i'll do it. On Mon, Mar 21, 2011 at 12:27 PM, ShaggsTheStud <[email protected]>wrote: > First of all, writing an email thread titled "JBookTrader can be dangerous" > is somewhat rude. > > Second of all, if you are trading with enough leverage to bankrupt you, and > you need stoplosses to keep your account alive, then there is probably a > problem. I think your post should be titled "Trading with a lot of > leverage can be dangerous." > > But, the feature you mentioned would be nice. How about you program it and > distribute it as a patch? > > > On Mon, Mar 21, 2011 at 6:33 AM, Victor Martin < > [email protected]> wrote: > >> That happened some days ago to me, incurring quite big losses on my >> account :( >> Stop Loss seems good solution for that "client failure" problems. >> >> However there is another problem that needs to be corrected as soon as >> possible too, cause it nearly wiped out my account. I reported it to Eugene, >> and now I'm sharing with the list to see if anybody suffered that and how >> can we solve it smoothly. >> >> Imagine you have 2 open positions and 3 strategies running. If 3d strategy >> tries to open a position and you have insufficient funds to cover margin, IB >> will reject your order. However JBT won't get noticed of the order rejection >> and will get to a "frozen" state, where any of running strategies will close >> their positions. Under an unattended JBT running instance that means that a >> strong inversal trend can incurre you big losses (as happened to me). >> >> Best, >> Victor >> >> >> On Mon, Mar 21, 2011 at 2:17 PM, alrts <[email protected]>wrote: >> >>> Hi Eugene, >>> >>> Imagine that your strategy establishes a long position. As you have >>> had good results in the previous weeks you opted to trade 5 contracts >>> instead of one this day. Soon after that, your internet connection >>> goes down along with your home phone (same provider) and it happens >>> that you misplaced your portable phone or you cannot find IB's phone >>> number. Now after desastrous news coming in by a ticker ES falls like >>> a rock. >>> >>> This can cost you several month's cumulated profits in a matter of >>> seconds. >>> >>> The IB API offers methods to avoid this: Along with your MARKET order, >>> you can place a second order that will become active as soon as your >>> initial order has been filled. The only thing you have to do is to >>> place a STOP LOSS (child) order and supply the order ID of your >>> initial (parent) order in your order object of the STOP order. >>> >>> order.m_parentId = order ID of initial order >>> >>> The stop price for this STOP order depends on the maximum of points >>> you are willing to risk in such averse situations. I think it would be >>> best to define it within your strategy base (per instrument) with an >>> overwriting capability within the individual strategy. It should be >>> very easy to implement. >>> >>> What do you think about this? >>> >>> -- >>> 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. >>> >>> >> -- >> 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. >> > > -- > 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. > -- 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.
