(P.S. I should also add to my previous post that AutoSync would have caught and corrected the quantity mismatch in your demo account within 60 seconds, but the vendor closed and flattened his position before AutoSync kicked in. That’s the “Buy to Close 3” you saw.)
Hi Matthew, second day of test and again gen1 no issues whereas gen3 big issues.
C2 hypo trades P&L for the day = +1782
gen1 TB-TWS P&L for the day = +1683
gen3 OEC P&L for the day = +936 witth CL long1 (should be flat) and TF short 1 (shod be flat).
gen3 does not seem that reliable. what is causing CL and TF closing orders not being executed on gen3?
gen3 should be state of the art given that it costs $4 per round turn. On a system like mine with at least 5 round turns per day gen3 costs about $6000 per year. For this price we should have state of the art execution.
[LINKSYSTEM_42777369]
OpenECry is rejecting orders in your simulated demo account with the following message:
"Status=REJECTED (Action not supported for instrument status)"
We’ll call them on your behalf to ask why they are rejecting your orders in the sim account. Please keep in mind you are using a simulated account, not a real one, and that while brokers make best efforts to simulate live markets in accounts like these, as we’ve already noted (see your last complaint, dated yesterday), sim accounts are just that – simulations. OEC is a great broker, and a great a partner, but it’s a bit unfair for you to complain about results not matching your expectations when your broker is rejecting the orders.
As I said before, we’ve been doing this for 4+ years, and simply do not have any issues like this in live real-money accounts.
Nevertheless, I’ll post more here after we get in touch with OEC to find out why they are rejecting some of the orders.
Matthew, the reason I am posting these questions is because before opening a real live account with OEC and switching from TWS/TB I wanted to make sure it is worth it.
Now… you are telling me that OEC demo has issues that live does not have so my test has no reason to be.
I guess the only option I have is to open a live account and test live vs live.
Well before we jump to that conclusion let us contact OEC and figure out why they are rejecting orders in your demo account. More soon …
I had similar problems with DEMO trading with OEC, when I went to live everything went well.
Jim
I don’t know if this is relevant, but autotrading Turning Points, when stop/limits and canceled and later re-placed (intentionally?), sometimes OEC will reject them several times (I don’t remember the message it displays) and eventually they will be accepted. This is on a live account. I can gather more data next time if happens, if you want. Am I the only one getting this?
You’ve exactly put your finger on why AutoSync is so important to use when AutoTrading. Often – particularly when dealing with the less liquid electronic futures markets – the exchanges have established a variety of restrictions regarding the types of orders that can be placed in a given price range. Thus, the C2 system vendor might go ahead and place a stop loss GTC at market price minus X, but the exchange might reject it because X is too large.
C2’s AutoSync will continue to try to place the order until it is accepted (whichwill happen ultimately as the price moves closer to the stop loss).
Remember that AutoSync performs synchronization checks on your account in two ways: on a per-signal basis (“Aha, I see Ironcito is missing a stop loss order in his account that he should have. Let me place it.”) and on a per-position basis (“Aha, I see Ironcito wants to hold 20% of what his C2 system holds, but while the C2 system holds 10 contracts, ironcito holds 4. Let me sell his extra 2.”)
That’s why we consider it so vital - from both a performance and safety perspective - to keep AutoSync turned on in your C2 AutoTrading account.
So both the canceling of the stop/limit orders without a signal from the vendor, and the rejection by OEC of the renewed orders is normal? If the problem is that they’re too far from the current price, why are BOTH accepted later at the same time? In other words, if both are being rejected now, why would both be accepted later when the price moves towards one of them? The other one should be rejected even more.
A stop or limit too far away from the current price is only one of several possible reasons exchanges (or brokers) may choose to reject orders. Sometimes, only DAY orders are accepted, not GTC (C2 Gen3 handles this smartly, re-placing DAY orders each day). Sometimes, exchanges refuse to accept certain types of orders during certain hours of the day – for example during the shutdown windows for each contract.
The point is there are a lot of reasons why an order might be rejected at one moment, and then accepted at another. That’s the reason C2 uses signal synchronization as a key part of its Gen3 AutoSync technology.
Matthew, I now opened a live account but it says "waiting for broker approval" in the autotrading panel. What does it mean?
It means OpenECry needs to approve your AutoTrade account-signup. This generally means that they match your C2 user name with the name in their files, and that you have enough margin in your account. They will contact you shortly (usually via an automated email telling you everything is fine and that AutoTrading has begun). Typically this takes them less than a day.
