Apparently many brokers, like OptionsXpress, won’t allow customers to submit orders in excess of buying power. That’s a problem for my system, because it generates numerous Buy at Limit orders; most of which are never filled.
I use Wealth-Lab Developer 4 to trade my own account. WLD has a tool called Quote Manager that monitors the prices of the stocks and automatically submits the order when the stock’s price approaches the Buy at Limit price. Is there any way to autotrade my system from C2 in this way?
Thanks,
Cliff
You might want to consider hiring a programmer to write software which submits your orders to C2 only when prices approach your limit prices and thus make those orders actionable. You can submit the orders to C2 using the C2 signal-entry API.
Just to be clear, almost all brokers will restrict this: they don’t allow people to place orders that – if all filled – would over-margin the account. Think about it from a broker’s risk-management perspective: during extreme periods of volatility, stock correlations tend to approach 1, which means that a bunch of orders that you think are unlikely to simultaneously fill will actually all fill simultaneously.
All you have to do is send a formatted HTML string from the program to the site using RT Scans if possible. It’s quite easy in WL5, as that’s what I’ve done for my Cash Cow system that trades out of Wealth Lab Pro, but when I was looking into WL4, it requires a minor tweak to make this call.
Thanks Matthew and Beau,
I’ve never used RT Scans before, so I’ll look into it. I’m still using version 4 of WLD because I would have to transfer my account from IB to Fidelity to get version 5. I expect Fidelity is a good broker, but I prefer not to change at this time.
Cliff
The program IBtoC2 would almost solve my problem, but the developer says, "Note: IBtoC2 does not listen to orders from other applications connected to TWS."
What is the best route if you have a thinkorswim account and want to use one of the system to autotrade with it? Is C2 hooked up w/ TOS yet or is it in the works?
Hi Matthew,
I’ve been considering your suggestion to hire a programmer and only submit orders when the stock’s price approaches my buy at limit price. This would help those subscribers trading automatically, but it would make it very difficult for those trading manually to enter their orders in time. Can you think of any other solution for this problem? IOW, is there any way to let those trading manually know the orders the evening before, but not actually submit the order until I send it in during trading hours?
Thanks,
Cliff
Sure, just use the “broadcast to subscribers” feature available on your system administrator menu. This sends a message to your subscribers’ email address and/or ITM windows. You could let subs know about upcoming trades through that mechanism.
Hi Matthew,
Broadcasting to subscribers might work, but is it possible to attach a comma-delimited value (csv) file to the email? I would like subscribers to be able to import the alerts into Excel. I notice I can attach graphics files or PDFs, but it doesn’t mention other types of files.
BTW, there seems to be a bug in the reply feature when I broadcast.
Thanks,
Cliff
If attaching a csv file is a problem, I can probably just format the alerts in the body of the email so subscribers can cut and paste them into a csv file.
Cliff
Is C2 currently working with ThinkorSwim for autotrading? Is it possible to include a list of brokers C2 is currently developing the autotrade function with? I have asked ThinkorSwim several times if they are working with C2 and all they will tell me is that they do not have the functionality at this time.
Thanks
Hello,
I asked the same question a week ago to the system owner of ETF Timer. This was his response: "they (TOS) are currently on hold for adding any new autotrading accounts since the acquisition of them by TD Ameritrade." And he said to check back in a few weeks for a status update.
Mike
Any status update?
gA
