I’m currently autotrading 2 forex systems with MBTrading. If I manually open a position on my MBTrading platform, that’s not traded by my C2 systems (e.g. XAG/USD), would AutoSync attempt to close that position, or would it ignore it since it’s not a position opened by C2 AutoTrade?
Thanks,
Mark
I don’t have an answer to this question, but it is a good question I would like to get an answer for as well.
I have no idea either but I would like to know too.
From my experience, when you have autosync turned and and you manually close a position using your external trading software, autosync will be turned off automatically and you will receive an email confirmation to indicate that autosync is off. If you have other open C2 positions, they will remain open until another signal is received by the C2 system provider to close the position. Additionally, any new C2 signals to open a position will still be filled. When you reactivate autosync, any open positions that you entered manually will be closed and all positions will be synced with the system provider. At least this is the way it has worked for me in the past.
Some caution is required when using C2 Autotrade and manually trading in your brokerage account. My two experiences:
1. With Autotrade on, I entered an unrelated manual trade in my MB account. Autotrade was automatically turned off as was expected. I exited the trade and then turned Autotrade back on. The subscription resumed autotrading without issue.
2. I wanted to do some day trading, so I turned Autotrade off first. Much to my suprise, all my subscription positions were closed a few minutes after I switched Autotrade off. When I was done day trading, I turned Autotrade back on. All the subscription positions were automatically re-purchased. I lost the days subscription performance and paid a round trip commission on every position. A nice price to pay for poorly written instructions on Autotrade use. But I guess someone at C2 would say ‘you should have known this’. It is not worth mentioning.
Be careful with Autotrade. It can do the unexpected.
I also ran a test the other day. The results were exactly what you experienced in your paragraph 1. Your paragraph 2 experience is very interesting and I will obviously avoid that situation. The documentation on C2 SHOULD explain this clearly, which it doesn’t.
Thanks for your feedback.
Admin: Would still like your comments on this.
When you click on "Stop Autotrade", a window popups up, informs you open positions will be closed and asks you if you are sure this is what you want.
I was caught out by this last year when I turned autotrade off and then back on again. I lost quite a lot on bid-ask spreads and broker commissions. At the time there was no warning that all positions would be closed so at least that’s been fixed.
However I think there should be a choice: “Yes close all positions” or “No don’t close, I am switching to manual trading”.
Agreed that there should definitely be a choice. Admin, can you comment on this suggested enhancement? Thanks.
This is something we hope to add in the next major AutoTrade upgrade.
Some great information in this subject and thanks admins for the info.
Had just one question and a related thought to add. As I understand it, as it stands right now if auto trade is turned off by a user then all positions opened via the system being traded will be immediately closed.
If this is the case, then how does a user cancel or allow to expire a subscription to a system without seeing all positions that have been opened by that system being closed? In other words, are positions left open upon expiration of a subscription?
If so please disregard the following! If not, then although obviously relevant for any pay-for-time subscription type, the instance of an expiring free trial period in particular comes to mind. In this case, the subscriber is trying the system without any obligation to pay a subscription fee, however unaware that at the expiration of the trial period they’ll be required to either pay the full subscription charge or face having all currently open positions closed out, which could result in some sticky scenarios. Perhaps a notice during set up might be helpful in that case.
Thanks for any consideration.
