Basic order types

[SteveH]

I don't see OCO (one cancels other) or parent / child order types in the API. Does eSignal consider such orders advanced and to be addressed at a later time? These two order types have been in the Interactive Brokers API for a decade now.

I consider them essential for trading the CL. That market moves too fast for a script to have to manage each order individually. The roundtrip latencies involved can introduce all kinds of unnecessary (and costly) problems.

[luca73]

I absolutely agree with SteveH.
OCO and parent order are essential conditions for fast market.

[eSignal_EricL]

Hello Steve,

These order types are not implemented at this time.

In a future release EFS-AT will have access to MMS which uses these order types.

Eric L.

[SteveH]

Eric,

When the MMS facility eventually does get tied in, I hope that the stop and target tied to an OCO capability still allows the script to gain direct access to those IDs created through that facility so they may be referenced for stop/target modification and not just manual manipulation from the chart after that point. [It sounds obvious, but I remind myself that the 10.6 simple feature which allowed lines to stay drawn over price on a chart has still not been implemented in 11.x.]

I am surprised that the MMS access feature is not in the first cut. Everyone who values their account risk is going to want to wrap an entry with a stop and target pair. If they're not OCO (one cancels other) bounded, then you have a lot of duplicate code getting written on the part of the users, relying on roundtrip events and some, if not many, are invariably going to get it wrong.

Now, one might say that that's why this is called an advanced feature. However, if I feel this cautious with my own money at risk, given that I have 20 yrs of professional programming experience and 10 yrs of full-time futures trading experience (all 10 with eSignal as my main trading platform) non-overlapped, then who IS this advanced EFS/programming person "out there" beyond my skill level in both disciplines who doesn't share this concern?

Just my opinion based on how I perceive today's markets, but the best course of action is to stay beta until the MMS access is implemented.

[eSignal_EricL]

Steve,

Scripts will have direct access to the IDs created through MMS.

Thank you for your comments and we will inform you when MMS access becomes available for testing.

Eric

[eSignal_AveryH]

Hello Steve,

Sorry for the delay in getting back with you;

Functions to access MMS are available as of version 11.7.
These are:
• Trade.applyMMS( MMS, PositionID )
• Order.mms ( OrderID ) - returns MMS name, if it is applied to order, or null.
• Order.mmsAction ( OrderID ) - returns MMS Action ("Entry" or "Exit") or null, if it is not MMS order.
• Trade.getMMS() - returns an array of names of all existing MMS
• Trade.getCurrentMMS()
• Position.mms ( PositionID )
You may pass existing MMS name string as parameter with Trade actions that will create positions.

Best Regards,
AveryH
eSignal Support

[demarcog]

Hello Avery,

I've searched the KB on MMS and Money Management Strategy and no hits were found. Can you please point me any documentation on using the MMS functions?

Thank you.

[email protected]

[eSignal_AveryH]

Hi demarcog,

In the eSignal Knowledge base you'll find the Money Management Planner Article. There is also the Integrated Trading Video on YouTube.com. To get directly to the MMS fast forward to 16:30 in the video.

Hope this help. Feel free to reach out with any other questions you might have.

[demarcog]

Avery,

Thank you very much that's exactly what I needed.

glen

[laxmicc]

Hi demarcog,

In the eSignal Knowledge base you'll find the Money Management Planner Article. There is also the Integrated Trading Video on YouTube.com. To get directly to the MMS fast forward to 16:30 in the video.

Hope this help. Feel free to reach out with any other questions you might have.

Unable to view the video, as it's showing private.