I placed two orders today, around 4 pm, to be activated at 16:14 for EOD trades. Only one order email arrived so far at 16:20, the ITM bell only started ringing at 16:15:10, once the trade was done, which is not very useful. Does an ITM only show up, once the order is filled?
Peter
The problem is that you set the trades to be parked until 16:15 PM. These electronic symbols which attempted to trade close at 16:15 and re-open at 16:30. Therefore the trades effectively sat until 16:30. In the future, you should park until 16:14 to get effective Market On Close trades.
Matthew
But I set them to be parked until 16:14, so that’s a full minute.
In my three real accounts I actually place my trades at about 16:14:10, 16:14:25 and 16:14:40, just as fast as my fingers can handle it, and I always get filled within a second.
Peter
Hmmm… no answer yet.
Since I trade End Of Day, how would you suggest I place my order? You actually had suggested I place my order but put it on hold until 16:14. I wanted to give a potential subscriber the same , kind of relaxed feeling, to know your order at 16:05 and have until just before the close of the futures market to place it. Realistic fills, not chasing after somebody’s entry. 5 minutes a day. But sometimes the ITM does it’s job and ‘publishes’ the order when I place it, ‘on hold until 16:14’, but more often it does not, until it is filled. So it is not really a valid answer to tell me it gets not filled because I place it on hold until 16:15.
Peter
OK. Two separate issues:
(1) ITM is designed to alert you when something needs your immediate attention. Thus, it should ring and alert you when it is time to place the trade at 16:14 … not when you enter the trade early in the morning (or whenever). The “relaxed, let’s get ready for a trade sometime in the distant future” kind of thing is what the email signals are for.
(2) You are right. There was indeed a software problem with the order being parked until 16:14. You did everything correctly, and it is fine to Park Until 16:14. The order should then get placed immediately (or within 10 seconds or so) at 16:14. I tweaked the scheduling software and hopefully this will do the job next time.
Let me know how the next one goes.
MK
Ok
Thanks for your efforts, will keep you posted.
Peter
