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I am looking for a software platform to place and subsequently manage orders (with brackets) for multiple accounts.
Ninja7 has Group Accounts, which lets me place orders for multiple account. However, any subsequent change of my targets and stops will have to be manually done for each account. As I am scalping, this can be difficult.
I came across VolFix.com that allows you to place and manage orders with a master-slave template. I only tested it for 2 hours but the management of targets and stops is not stringent (maybe I do something wrong here).
Does anyone has a good solution that works reliable?
There are a lot of different options to duplicate trade: replace the ChartTrader buttons, let two indicators communicate through pipes, sockets or whatever, ...
For the fun I use a method which is an indicator scanning for orders sent/cancel/changed from a master account.
The quantity can be changed on each slave, but the instrument has to be the same (it could make sense between mini/micro futures for example).
It has be tested carefully and I'm looking for beta testers, who can test it IN SIMULATION MODE!
When it will look stable I'll publish it in the downloads section.
I think I wrote the same thing for NT7 years ago, but with a different internal logic. I'll check if I update the NT7 version to the new logic used, which is smarter.
The important thing to keep in mind with this kind of tool is that's it's not very smart: it will copy the trades on the slave(s) account(s) from the master account whatever the fills themselves. So the partial fills, no fills at all, different slippage, ..., has to be managed by the human being the keyboard.
Of course - The human at this level of sophistication should always be involved in their trade amnagement. I fully understand that the slaves will not only experience a delay from the initial order but it may be quite ulikely the same number of shares are available at the executed price or indeed contracts if dealing in futures. Slippage is almost a certain, especially in illiquid markets.
If you do have an NT7 version, that would be great. Also happy to review the NT8 version in beta when you are ready.
You can contact me directly through here or via my email address [email protected].
We also offer something called Block accounts to our clients. You can trade multiple accounts under one block, and if you were to make any changes to your existing orders, the changes would be done automatically for all accounts under the block account and would not have to be done manually. Of course it would be under a different platform. Please PM me if you have any questions!
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I still have to update it so a popup is created when the slave position differs too much from the master position (when the target or stop orders of an ATM in the master is executed, while it's not on the slave for example), and remove quantity ratio < 1 (for example with a ratio of 0.5 buy 2 ES on the master means buy 1 MES on the slave). This ratio thing is working well unless with a master quantity of 3 and a ratio of 0.5, with an ATM on the target with 3 targets. The ATM goes mad, which is understandable. I'm planning to do these updates tomorrow.
The next step will be to have the same functionalities but with the slave(s) on another Ninja instance, on another machine, so adding a communication layer for this. This will be longer and more complex to code and to test (mainly the error management because the master can go down, the slave can go down, the network can be sluggish, etc).