Bracket Trader- be careful!

Discussion in 'Trading Software' started by wally_, Oct 18, 2002.

  1. According to its online help, here is what BT is supposed to do when you press Close and Reverse: 'this will close your positions immedately at market and enter the opposite side also at market'.

    Here is what it did to me: it did close my position when I pressed that button, but it did not reverse it until the stop was hit which cost me another 2 pts and happened over 17 minutes later after the position was closed.

    Well, I would think that someone tested this program, but apparently not well enough. My stop loss was 12 pts away from my entry, I closed my position when my loss was 10 pts trying to reverse it at the same time, but it was only after another 2 pts that this happened.

    I am using Ver 1.14 with IB TWS, I don't know whether this problem exists in the newest version of the software.

    Anyone else noticed that problem too? Is Auto Trader better in this respect?

  2. Quah


    In those 17 minutes you never noticed your stop order was still out there (in TWS) and that your position had actually not been reversed?

    It makes sense to always watch what is going on in TWS to avoid stuff like this.
  3. Now, I also know that I should watch TWS whenever I use BT, but this thing was supposed to replace it... I guess, it is still far from being able to do it.

    I realized that sometning went wrong when I heard another beep that was not supposed to occur. It was the reverse order that was to be filled earlier, and not at the stop.
  4. Wally, the same thing happened to me today.

    I also have v 2.14c. It happened more than once too, except I had the TWS open also so I saw that no reverse had occured and the stop was still in effect. As a friend of mine says, "I paid some tuition today."

    At first I thought I had hit the wrong button. I forget whether it happened both ways ... meaning long to short and short to long.

    Also, the Close Position button not only closed me, but reversed me. Twice.

    I went to the IB discussion forum today and posted the problem to Pretzel. Prior to my post BigEd had posted the same problems with 2.15. Pretzel had not answered him yet.

    Have you heard anything?