Posted By: AndrewAMD
New TradeMode: TR_CORRECTIVE (for NFA accounts) - 07/27/19 15:42
jcl,
It would be helpful if there was a new TradeMode made available: TR_CORRECTIVE. This would be specifically designed for NFA accounts. The design intent is to synchronize the Pool position with the broker position without requiring any manual intervention.
It's similar to TR_PHANTOM, but with a twist:
* Upon enterLong/enterShort, the Pool does *not* send an entry order to the broker.
* Upon exit, the Pool does *indeed* send an exit order to the broker.
The reasons for this are twofold:
1) The bookkeeping would be better.
2) Corrective actions can and should be fully automatic. It is better if a human does not need to manually intervene with a trading system.
An example use: LotsPool is +80 but my actual position is -40 for reasons unknown. So I enable TR_PHANTOM and then enterShort by 120 lots. Therefore both LotsPool and the actual position are now correctly showing -40. The correction is then documented in my logs.
Moreover, if I stop trading, and I click yes to close all trades, the system will actually close out the -40 lots position correctly instead of shorting by another 80 lots, closing the script at -100 lots.
It would be helpful if there was a new TradeMode made available: TR_CORRECTIVE. This would be specifically designed for NFA accounts. The design intent is to synchronize the Pool position with the broker position without requiring any manual intervention.
It's similar to TR_PHANTOM, but with a twist:
* Upon enterLong/enterShort, the Pool does *not* send an entry order to the broker.
* Upon exit, the Pool does *indeed* send an exit order to the broker.
The reasons for this are twofold:
1) The bookkeeping would be better.
2) Corrective actions can and should be fully automatic. It is better if a human does not need to manually intervene with a trading system.
An example use: LotsPool is +80 but my actual position is -40 for reasons unknown. So I enable TR_PHANTOM and then enterShort by 120 lots. Therefore both LotsPool and the actual position are now correctly showing -40. The correction is then documented in my logs.
Moreover, if I stop trading, and I click yes to close all trades, the system will actually close out the -40 lots position correctly instead of shorting by another 80 lots, closing the script at -100 lots.