Trading and Discipline

[trendspotter]

I'm also looking to set up automated trading using IB/Sierra on 5/15 ema crossovers and other indicators on the FTSE Future. I need to know how to configure this and to build in some levels of protection using stops if things go wrong. Taking out emotion and indecision is vital to success having looked at the backtesting results which are very encouraging. All comments welcome!

 

[JonnyT]

Hi TrendSpotter,

Doing this via Sierra is going to be difficult. It is much easier to code the EMAs etc in an App that interfaces to IBs API.

JonnyT

 

[JonnyT]

Hi Mark,

Why is leaving a PC running scary?

The results will be as good as my code, the PC is stable and I intend to purchase a UPS that lasts for at least 8 hours.

Of course I'll baby sit the thing as well!

JonnyT

 

[JonnyT]

What a B*mmer !!!

Had a ur umm minor techical issue this morning.

When the system went to trade it came up with 'Duplicate order id'

Now I know you have to increment the id for every order (which I did) but I thought this was on a daily basis.

Does anyone out there know how I can get the next available order id from the API?

I've asked the same question on IBs forum.

Any answer much appreciated.

JonnyT

p.s I manually entered the trade and ended up down 7.5 points, so maybe the programme was telling me something...

 

[Henry]

Re: What a B*mmer !!!

Does anyone out there know how I can get the next available order id from the API?

The API gives you the next available order ID in the "nextValidId" event when you connetct. After that it's up to you to increment it. Bear in mind there is a bug in that if you have multiple API clients connected, TWS will not give the correct next order id to subsequent connections after the first.

Incidentally, there is also a bug in the FIX messages that the API sends from LIFFE - you will find occasionally that FTSE fill prices are either divided by or multiplied by 10 - randomly when it feels like it IB know about this, but their standard disclaimer is that the entire API is still in beta and therefore not fully supported. It took them 12 months to correct the fill prices from Eurex, and even then they only provided a workaround not a full fix.

H.

 

[JonnyT]

Thanks Henry, I've just this moment stumbled upon it!

JonnyT

 

[GreyingSurfer]

I intend to purchase a UPS that lasts for at least 8 hours.

That's quite a UPS. I have the biggest single user Belkin UPS and it keeps my PC going for about 5-8 minutes, with an LCD screen. It's a fairly hefty dual CPU system with a few fans and 2 HDs, so I guess you would do a lot better driving a laptop, but 8 hours seems a little optimisic, unless you are planning some very serious kit.

 

[JonnyT]

Hi Peter,

My Machine consumes about 400 Watts so a 4000VA UPS should last for 10 ten hours.

The downside....cost £350, but probably worth it all things concidered.

JonnyT

 

[Henry]

Hope your floor is reinforced! :cheesy: