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Clarification regarding conditional orders
 Post subject: Clarification regarding conditional orders Post rating: 0   New post Posted: Sun 08 Jan, 2012, 23:56 

User rating: -
Hello !

I have few questions regarding conditional orders:

I'm using this method for order submit:

IOrder submitOrder(String label,
Instrument instrument,
IEngine.OrderCommand orderCommand,
double amount,
double price,
double slippage,
double stopLossPrice,
double takeProfitPrice,
long goodTillTime)


While sending some future price, I should specify BUYSTOP or SELLSTOP as an order command. BUT - the API doc specifies that when using "goodTillTime" field - the order command should be PLACE BID or PLACE OFFER.

1. Can't it work with BUY-STOP / SELL-STOP / BUY-STOP-BYBID / SELL-STOP-BYBID ? - How do I specify BID/ASK in that case ?
2. Is there any delta limitation that might cause order rejection if the price specified is too 'far' or too 'close' to the current price besides the slippage (which will be set to 25 by default..)?
3. If I hold the Order's label - can it be used later on to cancel the
order, due to some occasion, if haven't been executed already ?

Best regards,

Rony


 
 Post subject: Re: Clarification regarding conditional orders Post rating: 0   New post Posted: Mon 09 Jan, 2012, 12:39 
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User rating:
Joined: Fri 31 Aug, 2007, 09:17
Posts: 6139
Rony wrote:
1. Can't it work with BUY-STOP / SELL-STOP / BUY-STOP-BYBID / SELL-STOP-BYBID ?
No, it can't, but your strategy can implement that. See example strategy:
Attachment:
MarketOrderExpire.java [2.66 KiB]
Downloaded 433 times

Rony wrote:
How do I specify BID/ASK in that case ?
You specify the open price condition with price parameter. Whether it is BID or ASK, depends on the OrderCommand.
Rony wrote:
2. Is there any delta limitation that might cause order rejection if the price specified is too 'far' or too 'close' to the current price besides the slippage (which will be set to 25 by default..)?
No, but your strategy can check that. If the price condition is already met when the order arrives on server, then it is subject to immediate execution i.e. fill.
Rony wrote:
3. If I hold the Order's label - can it be used later on to cancel the
order, due to some occasion, if haven't been executed already ?
Yes, see:
https://www.dukascopy.com/wiki/#Order_Management
https://www.dukascopy.com/wiki/#Close_Orders


 
 Post subject: Re: Clarification regarding conditional orders Post rating: 0   New post Posted: Tue 10 Jan, 2012, 00:03 

User rating: -
All clear to me now.
Thank you !


 

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