Live API

[ScottMcNab]

Said and I were discussing this under “reducing entry signals” but it has gone off topic a bit so moved it to here..

I am wondering if anyone has discussed with Levente an API to monitor live prices before placing orders onto exchange ? This would seem to have several possible advantages:

lower risk (raised by Brent) in black swan event where market crashes and may have many orders sitting in market which get filled before API cancels remainder

would allow trading a buylimit strategy with a normal account rather than with margin (leading perhaps to possible adaptation of system to trade super)(adding in settlement delay)

[Nick Radge]

Quote:

would allow trading a buylimit strategy with a normal account rather than with margin

Depending on the liquidity you could use MIT orders instead?

Quote:

leading perhaps to possible adaptation of system to trade super

May just want to check on trade frequency in SMSF. Chances are the ATO will view it as running a business.

[ScottMcNab]

Thanks Nick..I might go and look into MIT more. I will also speak to accountant again as I think that he said last time I asked that the SMSF is allowed to run a business now as long as it satisfies the “sole purpose” rule (not sure if that correct terminology)…will look into further
Cheers

[SaidBitar]

I didn’t ask about monitoring live prices but I know it is doable.
Also I got an idea just now so it is not tested, if you will go in this path why you don’t test for fully adaptive API. I mean you only enter the list of stocks that you are interested in as per your system and the last close also you can enter three steps for the stretch let’s say 0.5 ATR 1 ATR and 1.5 ATR
The API will check the open and if the open is without any gap downs then the order size is calculated based on the first step stretch. If the open is up to -5% gap down then you use the second step stretch if the gap is deeper than this it will use the last step stretch.
The orders will be sent in batches based on the gaps no idea if it will be better to send the no gap first or the huge gap first , or maybe you don’t send the big gaps at all backtesting will answer all of these questions

It would be interesting to check if there is any added value for this and if it deserves the hustle

I will test it when I have time and tell you the results

[LEONARDZIR]

Said,
And if the market crashes in the middle of the day? Potentially you get all fills and no bids so you are out of luck.
Len

[ScottMcNab]

May still be beneficial on remaining days though Len ? ie scaling in with 1/3 position size rather than 3x ? Be interesting to test

[LEONARDZIR]

Agree Scott. Worth testing. Since I am in the states if I woke up and the market had tanked would have to consider stretch for entry

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