TWS: OCA efficiency

[Yair_S]

Hi,

I made a little test in the simulated trading account: sent 10 MKT orders under 1 OCA group name
The result was 3 of them executed.

I know there is no guarantee in OCA orders but i'm worried in case of a market open with a big gap that trigger right away more than 1 order and Margin Call

Is someone who use OCA on real trading experienced that ?

 

[nooby_mcnoob]

Personally, I would never expect to submit 10 market orders under OCA and expect that to work. Presumably these are 10 different markets... I have only used them for entry/exit type orders for a single market.

 

[eastern_warrior]

Hi,

I made a little test in the simulated trading account: sent 10 MKT orders under 1 OCA group name
The result was 3 of them executed.

I know there is no guarantee in OCA orders but i'm worried in case of a market open with a big gap that trigger right away more than 1 order and Margin Call

Is someone who use OCA on real trading experienced that ?

I'm confused, you send 10 orders at market asking for them to cancel after the first was filled.

First of all, you are using a SIMULATED account so you can't expect the same results. In real life, given the speed of execution, I bet you have over 70% or perhaps 100% if including partial fills executed.

 

[Yair_S]

To be more precise: if someone knowing he will not be in front of his computer for the trading day to come and want to enter juste one trade. If multiple LMT orders are triggered right at the opening, is the OCA option has any kind of protection ?
Same thing can happen at any moment with a big worldwide event or fat-finger error...

 

[gaussian]

I made a little test in the simulated trading account: sent 10 MKT orders under 1 OCA group name

Why are you using simulated as a representation of what would happen live?

 

[Yair_S]

Because i'm not sure if this is suitable for me and don't want to loose many $ just to test it in real

 

[lindq]

Hi,

I made a little test in the simulated trading account: sent 10 MKT orders under 1 OCA group name
The result was 3 of them executed.

I know there is no guarantee in OCA orders but i'm worried in case of a market open with a big gap that trigger right away more than 1 order and Margin Call

Is someone who use OCA on real trading experienced that ?

Whether simulated or real, entering 10 market orders at the open and expecting 9 of those to cancel if one is filled, is asking a lot of any system.

 

[qlai]

If you use STP LMT orders at different levels they would be less likely to fill, but as you said, no guarantees. I would use OCO one STP LMT order and one STP MKT order as a "get me out at any price if we get there."

 

[nooby_mcnoob]

If you use STP LMT orders at different levels they would be less likely to fill, but as you said, no guarantees. I would use OCO one STP LMT order and one STP MKT order as a "get me out at any price if we get there."

Interesting, have you tried this?

 

[qlai]

Interesting, have you tried this?

No, I only use mental stops. If you size your trade properly, you are better off taking occasional hit then being constantly robbed by gaps, mini-crashes, liquidity vacuums, etc.