Q: I downloaded the software,
I can't seem to get it working.
A: 99% of the time I get
this question, the problem is you forgot to enable TWS API ActiveX and Socket
Clients option.
Q: I downloaded the AutoTrader.jar
file, what do I do with it ?
A: You downloaded a Java
program, if you have TWS working on your system, then you already got everything
setup to use AutoTrader. All you need to do is double click the file. If double
clicking does not work, make sure you have javaw.exe in your path. To verify
it is in your path, open a DOS window and type "javaw", if you do
not get any errors, then you should be able to simply double click the AutoTrader.jar
file. Starting with version 1.12, you have the option of downloading the AutoTrader.exe
file, all you need to do after downloading this file is to simply double click
it. No software installation is needed, everything is self contained and ready
to go.
Q: I trade the FTSE100 future
on LIFFE, and tried using your software. I entered a stop order at a price of
3652, and was very surprised to see a stop order at 365200 on my TWS screen.
A: This is a know limitation
on using market order on FTSE100 on LIFFE. Use limit orders only when trading
FTSE100 on LIFFE.
Q: How are stop and target
order price calculated ?
A: The stop trigger price is always calculated as an offset from the best price,
while target price is calculated as an offset from the entry price. Best price
is initially equal to your entry price, and as the price moves in your favor,
it is the best bid price (for long position) since you opened the long position.
So if you set your stop offset to 2 and target to 3, and you bought at market
and got a fill price of 1000, your initial stop will be at 998 and target at
1003. The initial best price is 1000. Best price never moves down for long position,
and only moves in the direction in your favor. So if the price starts moving
down to 999, and you update your stop offset, the new stop price is calculated
as an offset from 1000, not 999. The same applies if the (bid) price moves up
to 1002, and you modified your stop offset to 1.5, your new stop will be at
1000.5. NEVER SET THE STOP OFFSET VALUE TO ZERO UNLESS YOU WANT TO EXIT
IMMEDIATELY. Here is why, if the best bid price is 999, and you set
your stop offset to zero, your stop trigger price will be calculated as an offset
from the best price, which is 1000, so your stop is instantly triggered as soon
as it is submitted.
Q: How come the stop order
is submitted as a stop market and not as a stop limit ?
A: To keep things simple, I use stop market orders in the program. Some symbols/exchanges
such as Globex accepts limit and stop limit orders only, on the other hand,
other symbols/exchanges, particularly in European exchanges, accepts only market
orders. From my experience, I see no difference in fill whether the order was
submitted as stop market or stop limit. For Globex orders, I think a stop market
order is safer than a stop limit order. On regular market trading, there is
practically no difference in execution and fill between the two. However, if
the market drops fast, and then you got disconnected, IB will make sure your
stop order is filled, wheras if you had a stop limit order and your limit price
is set to be the same as the trigger price, you run the risk of holding the
baggage of a major losing trade. But, some stop limit order proponents will
say, so enter a limit price that is 20 points below the trigger price, is that
enough ? How about a limit price 50 or 100 points below the trigger price ?
Thats where things will start getting complicated as soon as you have to make
a choice like that. So to keep things simple, I use stop market order. That
is just my preference.
Q: How can I use AutoTrader
with multiple TWS accounts ?
A: Make as many copies of AutoTrader program as you have TWS accounts, placing
each copy in its own folder. Start your TWS one at a time, say you have two
TWS accounts. On the first TWS, change the API port to 7497. Then start the
first copy of AutoTrader. In the AutoTrader preferences, change the port number
to 7497. You may now connect this copy of AutoTrader with your first TWS account.
Next start a second copy of TWS, the port value of this should be ok at 7496
(each copy of TWS running must use a unique port number). Next start the second
copy of AutoTrader and connect. You can now trade each account independently
using AutoTrader.
Q: How can I use AutoTrader
to trade multiple symbols in one Account ?
A: The setup is almost the same as the previous one described above, except
that you only run one copy of TWS (since you only have one account), and run,
say two copies of AutoTrader. Note that you can have multiple copies of AutoTrader
connected to the same copy of TWS. On each copy of AutoTrader, connect to TWS.
Then select a different symbol on each AutoTrader copy and now you can trade
multiple symbols using one TWS account.
Q: Will the AutoTrader playback
capability work with <my favorite TWS API client> program ?
A: Theoretically yes, if
the client knows how to connect to TWS, it will not know the difference that
it is connecting to AutoTrader and receiving playback data from AutoTrader.
So if you have some TWS API client you are using to retrieve market data feed
from TWS, then you can use AutoTrader playback to feed that program. For example,
you have a TWS API client program that can do paper trading using livefeed data,
but you want to practice trading on Saturday or in the evening, you can playback
data from AutoTrader and feed it to the program and you are now not locked in
to using the paper trading feature during market hours only. Another example
is using MetaserverRT to feed TS2000 data. You can playback the data from AutoTrader
and make MetaserverRT connect to AutoTrader and it will feed the market data
to TS2000 for you to test your strategies in your own time. So this unique feature
of AutoTrader gives you now complete freedom on when you want to do your practice
and research. If you paid money to use these programs, and use AutoTrader to
expand the capabilities of these program, please consider making a Paypal contribution
to AutoTrader. Note that AutoTrader currently only allows one proxy connection
only and only supplies tickprice and ticksize data to the proxy client.
Q: I selected Start Collecting
Data, and gave a filename to save the data, but I ended up with a file with
0 size?
A: When you specify the filename to save the data to, make sure you type the
complete filename, including the .zip extension, for example es031003.zip.
Q: I have TWS client version
6.0 installed, do I need to install TWS API client version 7.01 to use AutoTrader?
A: Absolutely not, the beauty and power of using Java and AutoTrader is you
don't need to install any TWS API client at all. As I have mentioned elsewhere,
the AutoTrader.exe or AutoTrader.jar program you download is complete, everything
you need is in that one file, including the TWS API 7.01 client, and will not
pollute your Windows system directory and will not intefere with the older versions
of OCX TWS API client file needed by your VeeBee based program.
Q: The AutoTrader program
now uses version 7.01 API client, if IB comes out with a new version of client,
will it still work ?
A: Absolutely, if it won't
IB will document that in their release notes. AutoTrader 1.11 was compiled using
TWS API version 4, and it continues to work with version 7.01. SierraChart uses
TWS API version 2, and it continues to work with API version 7.01.
Q: I downloaded AutoTrader.exe,
when I double click it, I get the message "Please make sure file ATDLL.dll
is in your path\nto have Window Always On Top Suppport", what does it mean?
A: First of all, that ATDLL.dll is only needed to have "Window Always on
Top" capability, that is the only thing the DLL is used for right now.
The program will still continue to work, so you can ignore that message. Second,
if you encontered that message, you probably have an unstable system already
and you may have to worry about a bigger problem soon. You can click ATDLL.dll
to download the file separately and just put it in the same location as the
AutoTrader.exe file.
Q: I started AutoTrader
in playback mode, and Sierra Chart seems to connect OK, but I don't see any
chart display, what's wrong with my setup?
A: You probably have your Sierra Chart settings set to display chart only during
market hours. From your Sierra menu, select Chart/Chart Settings menu, then
set Start Time to 00:00, and End Time to 23:59. Click Ok and your chart will
start displaying the chart. Note that starting with version 1.13b, you need
to open a new intraday chart with symbol ATPB or MSFT or IBM in order for data
to start playing back. This was done for safety reasons so the playback data
will not interfere with the collected data for the symbols you are trading.
Q: I have problems printing
the pages on this site, sometimes only the top part is printed.
A: Right click on the main frame (the center part of the page), and select print.
This will ensure that the contents page is the one printed.
Q: I am using version 1.13c
for playback, it does not seem to work, I know I was able to get it working
in version 1.13b, what happened?
A: In 1.13c, if you selected TWS proxy option, playback does not start until
a client program connects and requests one of the three symbols, ATPB, MSFT
or IBM. Once it gets that, then playback starts. I made this change so your
client charting program will get all the data from the beginning of the file.
In earlier versions, playback starts without waiting for a client connection.
Q: What is SmartTrack?
A: This is explained elsewhere in this site, but I'll explain it here again.
If bid price is 100, and ask price is 100.5 and tick size is 0.25 (bid/ask spread
is 2 ticks here). And you place an order to buy at bid at 100, if the ask price
comes down to 100.25, SmartTrack will move your order to buy at 99.75. If bid
price moves up to 100.25, it will move up your order to 100.25. The amount of
tracking is limited by the value you set for the SmartTrack limit. So if you
set the limit to 4 ticks, your order will be tracked up or down 4 ticks from
your initial order price. This feature is useful only if the market you trade
in has a bid ask spread of more than one tick.
Q: How do I use the AutoTrail
Increment value?
A: Normally, a trailing stop on a long position will move up when the bid price
moves up in your favor, but does not come down when the bid price comes down,
until you are stopped out. On certain market conditions, you may want to delay
the trail adjustment to a bigger increment than one tick. So if you set it to
0.5 (two ticks for ES), the stop order is modified only if the bid price moves
up 2 ticks. In this case, the stop order is moved up by 2 ticks. Do not set
a value of 0 for the Trail Increment if you checked AutoTrail option, as this
will cause your position to be closed out immediately. I will fix this problem
so that the minimum value to one tick.
Q: How come I can't get
Scale Out option to work?
A: You probably have an order
quantity of 1 if you are trading ES. In this case, the Scale out feature is
not applicable (nothing to scale out on 1 contract) so it is disabled. If your
order quantity is say 5, then Scale Out option will be activated, and if you
check the option, you will be able to specify a scale out quantity. So if you
specified 2, and you enter a new position of 5 contracts with target offset
of 1 point, then a target limit order will be placed for 2 contracts at +1,
then when filled, a new target limit order for 2 contracts at +2 (from entry
price) is placed, and if filled, the last target limit order for 1 contract
is placed at +3 from entry price is placed.
Have a question not answered here ? Send me an email and I will answer it for you. If I get enough email on the same question, I will add that question and answer here.
Wednesday, June 18, 2003 2:22 AM