Button trader help with forex please

Discussion in 'Trading Software' started by viclondon, Oct 21, 2009.

  1. Hi all,
    I trade mostly Forex cash with Interactive Broker.
    My problem is that TWS keep me glued at the screen and I find it very basi and unfriendly.
    I decided to try Button Trader, as I have always read excellent feedback.
    I went through all the different documentation and realise that it is exactely what I need, as I can automate a lot thing and go to play golf from time to time instead of spending my day in front of the PC.
    The problem is that is not working properly. Of course I have exchanged dozens of email with the technical support (they don't take phone calls!), but the guy doesn't really read my posts, don't believe what I say and basically treats me like an idiot.
    I'll try to explain:
    - When I turn on BT and TWS with no potion in portfolio and no orders I do find several pairs (at least 4 or 5) displaying running positions in BT; the P&L box displays green or red dots with running P&L number, as if I was engaged in some several trades
    - I must specify that the lilac cash forex function is turned off
    - The two times I switched on BT I found some trades been generated, of course all big loosers. Probably when those running strategies hit a target, a stop or a trigger they generate a real trade
    - Basically I believe that BT is out of sync with my TWS

    Has anyone encountered this sort of problem?
    Alternatively I am thinking about restarting BT from scratch, getting rid of all the folders existing. Can anyone guide me through this?

    Many thanks
  2. FGBL07


    I'm using ButtonTrader myself, unfortunately I don't trade Forex.

    To reinstall ButtonTrader simply use the usual deinstall procedure provided by Windows (Settings -> Software/Programs -> and then locate ButtonTrader). There may be some entry left in the registry, use regedit to locate and delete them.

    What version of TWS and ButtonTrader do you use? What OS? Especially 32- or 64-Bit?

    When you click the "Account" icon in the TWS Main Menu you should see a "Portfolio" and a "FX Portfolio" section. Is your "FX Portfolio" section really empty or shows positions with size 0?.

    Did you try deleting the strategies in ButtonTrader?
  3. Many thanks for your reply.
    I will try to reinstall BT using the procedure you indicate.
    I am using vista home premium and the latest version of BT available on their website.
    My forex portfolio is empty and there are no orders pending
  4. FGBL07


    This means you are using ButtonTrader And what TWS-version?

    These are real trades, not simulated trades?

    If this happens again please provide a screenshot of ButtonTrader and TWS (be sure to hide any personal information).
  5. The version of BT is, I thought it was the latest, only downloaded 10 days ago.
    TWS is build 899, the browser version.
    Actually I believe that I moved a bit, as I have noticed that all the open strategies are unmanaged ones, the ones showing a line of question marks in the middle of the ladder. I have about 5 or 6 of them, out of a dozen of pairs that I monitor.
    I think I should be fine if I knew :
    - How to get rid of this unmanaged strategies. Clicking one of the question marks I transform it in a running strategy, but since they are in open phase I cannot cancel the strategy, if I try to close it I generate a real trade on TWS
    - I would also like to know why I got all these unmanaged strategies. I can understand once in a while due to an error, but to have 5 or 6 of them looks a bit strange to me
  6. FGBL07


    Unmanaged strategy means you have a position but no working orders at all.

    When you click the "X"-button of an unmanaged strategy you close that position immediately, when you click one of the question marks of an unmanaged strategy it will be replaced by the strategy the name of which is displayed above the price ladder. Depending of the settings for this strategy (and your risk management settings) this may result in an immediate closing of that position - with profit or loss.

    Do you display all the pairs you monitor in ButtonTrader?

    I do not use the browser based version of TWS, but the stand-alone TWS. The latter one offers an icon called "FXTrader" - when you click it what do you see?
  7. My problem is exactly how to get out of these unmanaged strategies:
    - if I click on x on the strategy it kills the thing, but it generates a real trade that I have to close afterwards in TWS
    - il I click on the question mark I transform it in a running open strategy which I cannot cancel; if I close the strategy, again it generates a real trade in TWS
    Besides the amount of the trades generates is extremely large, often above 100k
    What I really would need is to be able to get rid of these beasts without generating trades
    On TWS I use the FX page to manage all my trades
    On BT I have a container with all the currency pairs that I monitor
  8. Alex55


    I use ButtonTrader sometimes for Forex, and have to admit that, in the beginning I was confused as well. This is not b/c ButtonTrader but more due to the strange way IB has implemented Forex.
    You need to get rid of the idea of "contract trading", but think in Cash budgets and swapping one foreign budget into the other. And your Base-currency plays a role as well (I have Euro, while most of my trades have USD as side, which makes it confusing at times).

    You say you see strange running positions in pairs that you didn't start. I guess (actually I'm sure) that this is just a Cash-position against your Base-currency. Just open in TWS your account-window and view the Cash budgets per foreign currency. Say you see 30K in CAD and your base-curcy is EUR. Then you will see an Unmanaged position inside ButtonTrader of 30k CAD.EUR. So it's just another way to show your cash (TWS uses the account-window, ButtonTrader an Unmanaged position in a ButttonGrid).
  9. Alex55


    Also, I think you should ask Support for help. I always got fast and helpful answers. Although, You are right: phone support would be better, but I guess that because they are in the Netherlands, email works better.
  10. FGBL07


    This is a grave misunderstanding: clicking on the "x" button does not cancel the strategy, it closes your position.
    Again, you don't "close" the strategy, you exit your position. Only a strategy in "wait" state can be canceled.
    The strategies are one of the main reasons to use ButtonTrader. If you don't want to use them why then use ButtonTrader at all?
    #10     Oct 22, 2009