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Exit strategies: not triggered with automated orders
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Created: by JohnJo Attachments:0

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Exit strategies: not triggered with automated orders

  #1 (permalink)
Mexico city
Posts: 12 since May 2019
Thanks: 2 given, 0 received

Exit strategies: not triggered with automated orders

Hi all,

Just wanted to check if it's a Bug or an expected result:

1) Configured an "Exit strategy" with a Take Profit to X number of ticks (Chart option);
2) Set it to "Auto Attach as Exit Strategy";
3) Added a Signal to the Chart to open automatic orders.

When the signal opened a Position, no exit strategy is attached !!
Is this correct ? Will the Exit strategy only apply to manual orders placed on the Chart ??

Do let me know, thanks.


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  #2 (permalink)
Boston MA USA
Trading Experience: Beginner
Platform: None
Favorite Futures: ES
Posts: 89 since Jan 2015
Thanks: 89 given, 94 received

JohnJo View Post
Will the Exit strategy only apply to manual orders placed on the Chart ??

Yes, that's correct. Signals (autotrading) and manual "Strategies" know nothing about each other, so you aren't able to use the chart trader or DOM exits/brackets/trailing features to manage automated orders from a Signal.

There is the option to combine your signal with built-in exit-type signals. There are a bunch of them and they end in LX or SX I believe. You just have to add them to the same chart with your custom signal. These were interesting to experiment with, or to look at their code, or for trying a quick backtest.

However - I wouldn't trust this type of combination for algo development. It is interesting that the system lets you do this but I think it is way too fragile to keep track of multiple interdependent signals on a chart to make up a trading system. So I'd recommend always coding the exit logic directly into the code for the signal.

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The following user says Thank You to ocpb for this post:
  #3 (permalink)
Mexico city
Posts: 12 since May 2019
Thanks: 2 given, 0 received

Thanks ocpb for your feedback. I will follow your recommendation and code myself the exit strategy. Appreciated.

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