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Overall, as a developer, I think C2 does more things good than bad given the lack of alternatives.
My biggest gripe is in the lag between the timestamp--and price--of real trades and what NT reports to C2. Today for example, there was a trade that had a 9 tick profit and C2 reports it as 5. Now this can cut both ways and work in my favor if the trend continues after excecution and reporting to C2, but I wonder when it's all said and done if the net effect hurts the system's real from reported results.
Do you think C2 should report the actual price of the trade or at market at the time it receives the "confirmation" from NT?
Can you help answer these questions from other members on NexusFi?
That's just because of the poor way NT handles it.
If you write your strategy properly (I posted code on how to do it in EasyLanguage, C# would not be a lot harder) then you will send buy stop and sell stop orders ahead of time, with limit fills and OCO orders, etc. This is assuming your strategy can make a decision ahead of time, which I think most can. All you need is an extra 5-10 seconds so there is no slippage at C2.
The issue with NT's built-in support for C2 is there is no limit orders, no buy/sell stop, no OCO. Everything is market, and as such there is going to be a delay for sending that to C2 and then C2 adds an additional couple second delay to provide for a 'realism' of the end-user getting fills.
I am saying don't use NT's built-in C2 support. Just code C2 support directly into your strategy, bypass NT's handling of it. This gives you all the control and flexibility you need.
Another trade fired and this time it was 1 tick positive slippage. I wouldn't be so concerned if the strategy took oversized gains, but for a scalper (win 9, lose 5), C2 may not be suitable if they take a cut on both sides.
To my knowledge, C2 has no mechanism to throttle the number of contracts a subscriber trades in a system. If the strategy instrument is thinly traded, a large group of orders coming to the market at the same time could negatively impact results. Limiting the number of subscribers does not solve the problem.
If you start to think about this kind of potential issues, you should find something smarter than C2.
A machine hosting the system, which knows who are its clients, and knows the overall allowed quantity per signal.
Then this machine act like a scheduler, sending signal for x qty to client 1, y to client 2.
With NT on both sides, a not so hard to code client-server application.
Sam, a few brokers are addressing this issue by creating subscriber payment models on a per contract charge and indeed restricting those who try to game the system. I think Attain is one of them.