Hi, let’s say I want to start with a new system. If that system has an “undisclosed” open trade that is losing…will the system merely replicate that original trade? In other words if the trade was a BTO limit 1.02 will the system just put through that same trade?
And if so, can I just start up the system with an allocation of 5%, and once that trade is in the account, move my allocation up to 100% and receive signals going forward? Thanks>>
It works differently, depending whether you use an API like TradeBullet of a Gen3 broker.
If you start a system with TB you can turn off auto sync and you will only be filled when a new position is opened. If you turn auto sync on you will be filled with all open positions at the current market price but you have to watch it when the exit signals for those positions are issued because TB won’t recognize them since they were opened by auto sync and you have to close them manually… Weird, I know, but this is how TB works.
If you are using a Gen3 broker, as far as I know, you don’t have the option to turn auto sync off when you start a new system and again you will be filled on all open positions at the current market price. However, at any time you can adjust positions by bringing up the Open Position window from the Auto Trade menue and you don’t have to worry after that, Gen3 will make all the necessary adjustments - a great feature.
Lets just hope that we will soon get Gen3 for IB.
For TB: If you turn auto sync on you will be filled with all open positions at the current market price. Since the opening signals were never traded, C2 will not send the closing signals for those positions (otherwise you may end up short if you were flat, which is not what you want), but Sync will close them shortly after the system does. The trick is to leave Sync enabled so you stay in sync. If you disable it then you will need to manually manage the positions.
I prefer now not to turn auto sync on most of the time for the following reasons:
1) I can manual adjust systems’ positions, then of course I have to adjust again when the system exits unless I turn the system off.
2) I can do my own trades in the same account
3) There have been quite a few problems with auto sync, the last one we discussed here and by email when auto sync repeatedly turned on and off positions without any reason, incurring additional costs.
