Help to raise a Trailing Stop Order

rainbow47

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Hi,

I am new to MW and wondering how to raise a Trailing Stop Order for S&P 500 Futures. I am using Interactive Brokers.

When I am entering a future position at market (long or short) I am also looking to add automatically a trailing stop order which rises in pre-defined ticks if the market goes in my favour and stops me out once the price hits the stop price.

Is it possible to do this in MW?

Thanks
 
Last edited:

MotiveWave_Jason

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Hello rainbow47,

You will need to create an exit strategy from a trade panel or DOM. Once enabled the exit strategy will automatically attach to each order you submit. To create an exit strategy, click on the trade panel or DOM preferences icon and go to the Exit Strategy tab. The image below shows an example of a 10 tick trailing stop.

179

You can find more information on exit strategies on page 22 of our What's New in Version 6 guide located here:
https://www.motivewave.com/guides/Whats_New_In_Version_6.pdf

Regards.
 

rainbow47

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This is exactly what I did but it is not working. I basically use the parameters from your screenshot and execute a trade from the trade panel (eg. sell market button). The exit strategy feature is activated and the strategy selected from the drop down. The problem is that the Stop Loss does not trail. It just remains at the initial level although the market goes in my favour and exceeds 10 ticks.

For reference, I am trading S&P Futures (ticker ESM0 ) and my broker is Interactive Brokers.

Can you check if you can replicate the problem?
 

rainbow47

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Just a quick update on the situtation, I contacted MW's support department by email two days ago and also provided log files to identify the problem.

Since then MW have not been able to tell me what the problem is nor did they come back with a solution. I am sorry to say that but the support is extremely slow and not solution focused. It is not on par with the service which is being provided by NinjaTrader or Metastock where you receive support answers within an hour (if not faster).

The problem of not being able to implement a Trailing Stop Order for an S&P500 future using IB as my broker is a fudamental problem and makes the software unusable to for me. I tested with a real money and paper portfolio. In both cases the software is not trailing the stop.

I asked again for a solution 24hrs ago and did not receive a reply.

I would expect the MW to be on the case immediately for such an important problem.

I am not pleased with the MW support and will send another email to ask for a solution or refund.
 
Last edited:

MotiveWave_Leigh

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Responses to your same post on Elite Trader today for reference for this thread.

From MW:
When you email our Support Team, you are notified with a message stating our Support hours and reply times: "Our office hours are Monday through Friday, 9am to 5pm Eastern Time. We aim to get back to you within 24 hours (or much sooner, if we can), or the next business day if you’ve emailed outside of office hours, or on the weekend."
We do typically respond within 1-2 hours in normal situations.

As also mentioned in the response, **We are currently experiencing a higher than normal volume of emails and phone calls. Please be patient, as our response times may take longer than usual.** (As is the case for the majority of businesses during these unprecedented times.)

Regarding your specific issue, as Jason, from our Support Team, has mentioned to you today, the issue you're experiencing has to do with how IB gives updates for trail orders. This isn't an issue on other broker connections. Our development team is currently looking into it. Once we can determine a solution to work around the IB API limitations, it will be coded, and an update to the software will be released.

To imply that we're not 'on the case immediately' and 'not solution focused', is completely untrue. These types of issues can take time to resolve and we are doing all that we can to resolve it as quickly as possible. We are a very nimble platform and company. We make changes and enhancements very quickly and much faster than any other platform out there.

If you are not interested in using one of our other 30+ brokers and data service providers in the meantime, and you do not want to wait for the solution, please email sales@motivewave.com and we will process your refund.

From rainbow47:
Hi Leigh,

Every other trading software I tried can manage trailing stops with IB. This is a critical bug which your team should have spotted immediately and make clients aware. I made your team awarte of it DAYS ago. Apart from that I am shocked that an established software like MW has crtical bugs like this.

We are talking real money here. IB is a common broker and you are putting all your clients with IB as a broker at risk to loose money because you sell a buggy software! If I would be you, I would put a hotfix out and disconnect your software from IB immediately as this is a critcal problem.

I would like to get a refund as soon as possible and email your support team. I hope it does not take another day to get an answer from them.

From MW:
While I understand and appreciate that in your style of trading, this is affecting you greatly, not everyone uses trailing stops. We have a lot of users on IB who are using it without issue for their style of trading. Disconnecting IB for all of those unaffected people would not be appropriate.

You are the first person to report this issue, and as already mentioned, we are taking it seriously. Also, as already mentioned, when we have resolved the issue, we will release an update immediately.

As mentioned, if you would like a refund, please email Sales, not Support.
 

rainbow47

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And this was my reply:
I disagree with your view.

Trading is a serious business because real money is involved. You cannot put a trading software out which does not trade. This is like Tesla would say: "Sorry that our Park Distance Control is not working and you crashed into the car behind you. None of our clients before ever tried to park with a Tesla."

You are putting your client's money at risk by not making them aware of a critical bug in your software. Not the right approach for a provider of trading software in my view.

Anyways, you decide how to run your business. I just hope that no other clients loose money while you are not protecting them from it.

I would like to get my refund processed today.

Thank you
 

Leatherneck

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I'm with IB and motivewave complements IB perfectly. No problems and no complaints. Suggesting they drop IB is just plain ridiculous.
 

Johnedoe

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I also use IB and have not had any issues..
And yes I have also used trailing stops but I think they are a weak risk strategy to play.
 

rainbow47

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It's not about whether you think that trailing stops are a weak strategy to play. People have different trading styles.

The question is if Trailing stops on ES (S&P 500) are working with IB as a broker. Yes or no?
 

Leatherneck

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I'm using trailing stops on everything from us equities, emini's Italian stocks Italian bond futures. All timeframes. Not really sure why your having problems. I really don't think there is a bug, mate
 

Leatherneck

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Make sure your configurations settings are proper. Motivewave in my humble opinion is the best platform available. No need to trash talk it
 

rainbow47

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Are you aware they agreed that this is a bug and needs to be fixed? And they haven't sone anything for days.

Anyways, I leave you alone with your uninformed opinion. Not even sure if you trade any futures...
 

MotiveWave_Leigh

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As an update: after much investigation, this was not an IB issue. It was an issue with our exit strategies in some scenarios. The fix has been completed and will be part of our 6.1.14 release, which will be released within the next few days.
If anyone wants early access to version 6.1.14, you can contact our Support team and they can send you an early download link.
 

MotiveWave_Leigh

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Are ya going to fix Trade Manager too?
You created a thread on the Trade Manager already and you were updated on the status in that thread. Please post in that thread regarding Trade Manager, so that we can keep this thread just about the thread topic--trailing stop orders.
 
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