OmniTrader Professional Forum
Integrated Brokerage
GX - Are OV and OT Allowed to Trade Same Account
5 replies, 1753 viewings
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OmniTrader Professional Forum
Integrated Brokerage
GX - Are OV and OT Allowed to Trade Same Account
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Last Activity 3/14/2023 7:47 AM 5 replies, 1753 viewings |
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John W Regular  Posts: 95 Joined: 6/18/2011 Location: Sydney, NSW, Australia  User Profile |
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| Barry Cohen Idol   Posts: 2259 Joined: 1/1/1900 User Profile |
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| John W Regular Posts: 95 Joined: 6/18/2011 Location: Sydney, NSW, Australia User Profile |
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| John W Regular Posts: 95 Joined: 6/18/2011 Location: Sydney, NSW, Australia User Profile |
I did not notice but inadvertently I traded the same underlying symbol using OV and also OT in an option trade. The OT trade plan on the option required an exit when a virtual trailing stop was hit on the underlying (i.e. the same symbol as OV was trading). When the virtual stop on the symbol was hit the trade plan closed BOTH the option traded by OT and the underlying stock symbol traded by OV. It appears to me that it should be possible to attach your own favourite OT stops to your OV trades and have OT exit your OV positions if those stops are hit. WOW! If this is true then there is no longer a need for those who are a little adventurous to be locked into an OV Market on Open Exit, perhaps profit stops, trailing stops and even broker stops using OT and OV combined are possible! I realise that OV orders can be placed directly through OT, but for those who prefer to use OV then stops can be added to existing OV trades when the market demands it without being limited to the basic percent Trade Processor stops. John | ||
| Jim Dean Sage  Posts: 3428 Joined: 3/13/2006 Location: L'ville, GA User Profile |
This is interesting - might be a little scary if it's a bug but see my last para for possible explanation. If you were trading the same account from two machines (OT EOD and VT RT, say), and if the two happened to be trading the same symbol but with different strategies, that would mean the FIRST Strat which closed the trade would take out all shares for both. Hmm. As for interaction with OV - given the fact that TProc is supposed to be hands off - I don't think this would be a good "automated OV" solution. BUT - if you choose to trade manually without the TProc, then using OT to place and control the OV selected trades would be a good way to go. My guess is that once the next major version of the TProc hits, it will have more intelligent order processing, which would likely discourage parallel outside control. But it is an interesting observation. I hope the N folks can clarify why it happens. Here's a thot - there is a checkbox option in the TPlan which says "close all shares at end of TPlan" or something like that. If you have that checked, you might try running with it UNchecked and see if the side effect double-closeout goes away. I think that when it's unchecked, the TPlan tells the broker to buy/covers specific # shares, but with it checked, the TPlan tells the broker to fully close the trade without being specific as to # shares. [Edited by Jim Dean on 3/12/2014 7:04 AM] | ||
| John W Regular Posts: 95 Joined: 6/18/2011 Location: Sydney, NSW, Australia User Profile |
Your comments are right on the money as usual. Since you made the effort to think all this through, the least I can do is try out your 'thot'. I'll use AEP which today has an option trade for OT and a stock trade for OV. |
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