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Re: OrderLimit support and behaviour [Re: Zheka] #471541
03/08/18 18:20
03/08/18 18:20
Joined: Dec 2013
Posts: 568
Fuerth, DE
Sphin Offline OP
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Sphin  Offline OP
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Fuerth, DE
Quote:
Need to ask support if/how exactly Limit orders are supported with FXCM.

This was my first sentence within this thread. laugh Normally I ask those questions, that might be also interesting to others, in the forum.

OrderLimit is available when the SET_LIMIT command is supported by the broker API (manual). Because SET_LIMIT is not listed in the manual at the FXCM API and because of my experience from above I guess it isn't supported by FXCM. As far as I can see only IB API supports SET_LIMIT propperly (MT4 does strange things).

Re: OrderLimit support and behaviour [Re: Sphin] #471549
03/09/18 08:45
03/09/18 08:45
Joined: Jul 2000
Posts: 27,977
Frankfurt
jcl Offline

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Yes, AFAIK OrderLimit is only for IB and the new Bittrex plugin at this point.

Re: OrderLimit support and behaviour [Re: jcl] #471583
03/10/18 14:49
03/10/18 14:49
Joined: Dec 2013
Posts: 568
Fuerth, DE
Sphin Offline OP
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Sphin  Offline OP
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Fuerth, DE
But OrderLimit is the only way to get surely filled at the limit price or better (or the trade will not be filled at all and is cancled) while using Entry limit Zorro sents a market order if the price crosses the limit resulting in slippage etc. or cancles the trade after EntryTime?

Re: OrderLimit support and behaviour [Re: Sphin] #471587
03/10/18 16:34
03/10/18 16:34
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Zheka Offline
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Yes, but in a normal market it is more likely to be positive slippage.
For it to be negative, price has to just touch the limit and immediately retreat.

The danger is during volatile markets. Zorro triggers everything on Ask, and Ask and Bid can spike, triggerring stops/limits. So, negative slippage is more likely on the Short entries.
Some brokers add "Order execution options" to prevent such situations. https://alpari.com/en/trading/ecn_settings/

Since Entry limits are not sent to the broker anyway, you will be better off tracking the price mid-point in the script and just sending a market order yourself.

Of course, if the game is to "catch" a guaranteed fill during the news release then you need real limit orders residing at the broker server.

Re: OrderLimit support and behaviour [Re: Zheka] #471597
03/10/18 18:45
03/10/18 18:45
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Fuerth, DE
Sphin Offline OP
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Fuerth, DE
Quote:
Some brokers add "Order execution options"

So does FXCM, but it seems only via Tradestation and not via API.

Re: OrderLimit support and behaviour [Re: Sphin] #471600
03/10/18 19:28
03/10/18 19:28
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Zheka Offline
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Re: OrderLimit support and behaviour [Re: Zheka] #471618
03/11/18 10:38
03/11/18 10:38
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Fuerth, DE
Sphin Offline OP
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Fuerth, DE
Maybe the version of Forexconnect on which the FXCM plugin is based (' the FXCM plugin uses an older and more stable version of the API') did not support OrderLimit. Another reason for a more common usable FIX plugin.

Re: OrderLimit support and behaviour [Re: Sphin] #471988
03/31/18 17:36
03/31/18 17:36
Joined: Dec 2013
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Fuerth, DE
Sphin Offline OP
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Sphin  Offline OP
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Fuerth, DE
At last I must agree to you, there should be really a better implemenation of limit orders at least if the API supported it anyway. As far as I read about MT4 there seem to be indeed no limit orders beside of pending orders until the price hit the limit and then change them to market orders but e.g. as you quoted the FXCM APIs can and I heard in MT5 real limit orders should also be possible.

Re: OrderLimit support and behaviour [Re: Sphin] #472040
04/03/18 08:18
04/03/18 08:18
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Posts: 27,977
Frankfurt
jcl Offline

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jcl  Offline

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Except for MT4, most APIs normally support limit orders. They are normally implemented in new broker plugins and will be eventually also implemented in updates of older plugins.

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