The system I have created depends upon orders that execute at the close of the market (or close to it). C2 does not support MOC (Market on Close) orders so I attempted to use the parked order system. When I used this system in several years ago it didn’t work at all. I never got executions. I was so frustrated I quit C2 and requested a refund. Then after following C2’s progress, I saw they had made many changes and thought that maybe they have fixed the bugs with parked orders. I signed up again to try my system.
On 6/28/19 I entered a parked order to execute at 15:57 EST to buy 475 SPXL signal #124270779. The order displayed as “working” for the entire weekend. I obviously didn’t want it to execute at the open on Monday morning since the market gaped up 3.7% on SPXL so I cancelled the order before the open.
I sent a trouble ticket to complain that a market order should usually execute at the ask but I never got a fill. Since I cannot be at my computer every day near the closing bell, the parked order system is the best option - but completely unreliable in my experience.
I really hope they can fix this problem.
Also, the market orders I send never execute at the bid or ask. I am not even sure where they pull the prices. Very disappointed.
Two separate issues here. Let me address them one by one.
I will look into the parked-until order problem.
Your statement that “the market orders I send never execute at the bid or ask.” This definitely should not be the case. Please send a note to the help desk with the specific signal id you think filled incorrectly (i.e. did not fill at bid/ask). Please note: if you have subscribers who autotrade your strategy, your fill price on C2 will be changed to the actual fills received by your subscribers, so perhaps that is the issue (?). In any case, send a quick note to the help desk with the specific signal id and we’ll take a look.
I have only placed a few orders. Literally every order was executed a price that was not reflected in the actual quote. I will submit a trouble tickets for each of them.
My first trade occurred when I was setting up the order and getting reacquainted with the system. I accidentally hit the submit button as I was trying to place a parked order. So, I traded out of it a few minutes later. My system showed I was actually at a profit of .10 cents. I placed the sell to close order at market and got a fill that wasn’t reflected in the bid or ask and not even actual trades at all. I have no idea where the fill price came from.
Each trade since has had similar results. The buy orders are always a little bit higher than the current ask and the sell orders are also lower than the current bid. At least they get filled.
Since you did not mention a specific trade, I picked one trade at random. On July 2 you submitted market order for signal id 124314696:
BTO 945 SPXL @ market [7/2/2019 3:57:16 PM ET]
The bid/ask at that moment was 52.86 / 52.87
You were filled at the ask 52.87.
So I see nothing incorrect.
If there is a specific signal you’d like us to look at, the best thing to do is to submit any specific questions about fills to email@example.com.
Thanks for checking the fill on that trade. The bigger issue is the parked orders problem.
I’ll do a better job of documenting the fills against real time quotes. Please see what you can do about fixing the parked order problem.
My system only trades about 10 or 11 trades a month, so it is really important that we get filled on parked orders, even if the fill is off by a few cents the bigger issue is the fact that the order never got sent in the first place. This system can withstand a few cents difference one way or the other - but to miss a trade - that will greatly effect performance in a big way. That first trade missed cost me 3.5%.
I believe the parking issue has been solved.
Regarding your other issues / questions:
You can’t look at the “low of the bar” or “high of the bar” because those represent actual trades; i.e. “prints”. But if you type a market order into C2, it will fill at the bid or ask … which is unrelated to the last trade prints.
Let’s take this conversation off the forums and into the help desk if you have further questions about specific fills. But I do think you’ll be pleased with the improvements I just made to the parked-order handling, which I hope you’ll see for yourself with the next parked order you place.