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autotrading FX with NT7 & IBIdeal mini lots.


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autotrading FX with NT7 & IBIdeal mini lots.

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  #1 (permalink)
Cairns Australia
 
Experience: Beginner
Platform: MC,NT7
Broker: Dukascopy
Trading: FX
 
Posts: 51 since Dec 2009
Thanks: 96 given, 9 received

Hi, does anyone have experience configuring TWS to auto trade FX with NT7?
I've set up the NT7>instrument editor>definition>IBIdeal for all currencies, to trade order sizes that are under Ideal Pro limit, but still get "order too small for Ideal Pro, rejected and self terminated" on the NT side, while TWS records the trade in IdealPro.
I'm sure I have something configured incorrectly, as I have been unable to find much to read on this subject in the IB knowledge base.
Thanks

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  #2 (permalink)
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Posts: 3,639 since Jun 2009
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I've tried, and have the same issue with NT 6.5.
I think the problem is in the link between NT and TWS, and not a configuration issue.
If I'm right, that's just very bad, and you won't be able to trade small lots with NT and IB...
Maybe an other broker, "NT small lots compatible", like MBT.

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  #3 (permalink)
Chicago, IL
 
Experience: Master
Platform: Kinetick Ninja Trader <7>
Broker: Ninja & IB
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Isn't the spread on those minis currency futures prohibitive to autotrading? I mean anything bigger that 2 tick spread really changes the parameters of the strategy, right?

Or are you talking about the 25,000 forex minimum?

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  #4 (permalink)
las vegas
 
Experience: Intermediate
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I believe he is talking about trading spot forex. You can force small trades through on the IB side, but you will always get the error and with $5 rt minimum commissions it makes no sense whatsoever to trade less than 100,000 units through IB on an ongoing basis. Commissions on majors are also considerably higher than comparable futures contracts, so even then you really should only trade cross pairs on spot. Personally, I wouldn't even consider automation with NT and IB due to too many reliabilty issues. Regardless, good luck.

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  #5 (permalink)
Chicago, IL
 
Experience: Master
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I would tend to agree. I do however wonder how sending orders through IB and pulling data through and other source to insure accuracy. At the end of the day however, seems like walking around the block to get to the store next door. Nes Pas?

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  #6 (permalink)
Cairns Australia
 
Experience: Beginner
Platform: MC,NT7
Broker: Dukascopy
Trading: FX
 
Posts: 51 since Dec 2009
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Thanks Guys, my auto strategies are going after around 100 pips, and at $1 per pip the $5 commish isn't too bad. I want to keep the risk per trade to about 1% of my account so these are the numbers I need to work with for the moment.
I've done quite a bit of retesting of my strategies on the IB historical 1 year data, to compare trade for trade with with the results of testing on the 2-3 years of Gain historical data on which the strategies were built. I have found that most stategies performed 3-6% worse on the IB data, some the same and a couple better. The 60m bars are usually within about 5 pips of each other but I've seen up to 26 pips. With a little tuning, I'm going to use the IB historical and run the strategies in live sim and see how they do. I'm taking a guess that 1 years worth of data from the broker I trade on is more acuurate for tuning that 2-3 years worth of data from a different ECN network. It is a guess, so now I'm testing it. That is, as soon as I can get NT7 and TWS to talk to each other....

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  #7 (permalink)
Cairns Australia
 
Experience: Beginner
Platform: MC,NT7
Broker: Dukascopy
Trading: FX
 
Posts: 51 since Dec 2009
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Now I'm wondering which broker DOES work with NT to auto trade FX for about $1 per pip....

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  #8 (permalink)
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LukeGeniol's Avatar
 
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Stem1 View Post
Now I'm wondering which broker DOES work with NT to auto trade FX for about $1 per pip....

MBT is directly supported by NT.
Dukascopy uses a bridge, look here https://futures.io/vendors-commercial-products/7103-dtn-bridge-dukascopy-ninjatrader.html.

Take your Pips, go out and Live.
Luke.
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  #9 (permalink)
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sam028 View Post
Maybe an other broker, "NT small lots compatible", like MBT.


Your commissions would be like $.60 RT with MBT on $10,000.


Are you taking the currency down to the .00005 or .0001 in your strategy?

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  #10 (permalink)
Cairns Australia
 
Experience: Beginner
Platform: MC,NT7
Broker: Dukascopy
Trading: FX
 
Posts: 51 since Dec 2009
Thanks: 96 given, 9 received


Stoplosses are held in NT for MBT, and I get frequent disconnections daily, (with Gain and IB), and that just plain scares me, its going to bite me....
I'll look into the DTN/Dukascopy.

I take the currency down to .00005.

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