Question re Tradestation Orders

[Tuffty]

I don’t have TS but I would appreciate if anyone can answer my question.

Will I be able to use a simulated stop order for Globex if I use automated execution on Tradestation?

AND will this order be sitting on the Tradestation network waiting to fill if the conditions are hit or on my PC.

I notice that TS only got Market If Touched (MIT) orders in v8.1(SP1) and intra-bar fills for testing in Easy Language in 8.1 but I’m not sure if the MIT and Stop orders are for manual execution only.

Cheers Tuffty.

 

[Directional]

I'm not sure if this has changed recently as I no longer subscribe to TS, but last time I checked any strategy automation STOP orders were synthetic and stored locally on your PC, NOT at TS's servers.

The obvious problems with this were that if you get disconnected or crash, etc, your stop doesnt get executed. It also can cause slippage if your pc and/or connection is a bit slow as the stop is activated as a market order - obviously if it takes a second or two to get sent then you may pay a price or two extra in a quick market.

Thirdly, you dont get daytrade margin for automation stops, since the stop is stored locally and not on TS servers, and you need to have a server side stop to qualify for TS DT margins.

was a bit sucky IMO.

Obviously if this has changed then bully for TS, and about time too.

 

[turtle trader]

This is what TS have to say about it in their 'What's New' section:

Automated Stop Order Enhancement
Now strategy stop orders generated at an interval of 1 minute or greater, per chart, will be sent directly to the TradeStation Order Execution Network. In prior versions of TradeStation, strategy generated stop orders were marked as 'price restricted' in the TradeManager and were not sent to the TradeStation Order Execution Network until the stop price had been met.

Like you say Arb, 'about time too'

 

[Tuffty]

I appreciate the answers. Thanks.