Strategy-Monitor-autotrade-MetaStrategy

Thank you Glitch! I am very excited to try this out.

Hi Glitch,

Thanks for the previous answer. I have a follow-up regarding how Meta Strategies function in the Strategy Monitor.

Since a Meta Strategy is split into individual components when imported, are the Meta Strategy configurations (e.g., common capital pool, inter-signal pruning, etc.) still accounted for?

I’m asking because I’m paper trading a Meta Strategy with two sub-strategies running on the same symbol. I noticed in the Order Manager that when a position opens, both strategies appear to create their own Stop Losses. I want to ensure the "Meta" logic is actually governing these actions rather than them acting as two entirely independent agents.

Thanks for the help!

Even in a MetaStrategy, each component Strategy is its own entity and would maintain its own stop losses, etc. The only thing they share is a common capital pool (if enabled.)

I know right.
What I want to know is if the common capital configuration for example is actually working in strategy monitor? Cause there is nothing that seems to show that since the meta strategy is split into its components.

Secondly, what I see in my current setup is that if one strategy opens a position on a symbol, the other running on the same symbol sees it and opens Stop Losses too. So there are 2 stop orders for the same position. That is kind of my main problem here because if both are reached, one will close the position and the other will enter an unwanted short position. You can see it in the link screenshot of ibkr (What I use to paper trade)

Thank you for your support.

The common capital pool does not work in the SM, you should manage each strategy separately. I recommend using Fixed Dollar sizing or Percent of Equity tied to "Use Broker Account Value" Trading Preference. For the latter, when you change accounts in the Signals tab your quantities change to reflect the actual broker account value.

Okay
Nice to know common capital pool does not work.
Does inter strategy pruning work? Essentially what work and what doesn't when porting a backtested meta strategy to the strategy monitor for automatic trading?

On the last point, I am sorry but I don't really understand what you mean. I just have one account I am using to paper trade. Not multiple. Those Stop orders where both placed by automatic place system not manually.

Thank you.

QUOTE:
if one strategy opens a position on a symbol, the other running on the same symbol sees it

That's because you probably turned on "Use Live Positions" in Trading Preferences. There's a lot to read about this preference in the Help Guide, but you better turn it off!

A solution for trading the same symbol in the same account with multiple strategies doesn't currently exist. For that, stay tuned for Wealth-Lab 9.

But since you're doing that in WL8, you also need to disable both "Reduce size of Exit Orders.." and "Always set Exit Order Quantity.." so that the each Strategy controls its size for both entry and exit. To do that for live trading, use either Fixed Dollar or Fixed Shares sizes, or assign the Transaction.Quantity in the Strategy.

Upvote this feature request for exiting positions based on executed order size per strategy.

https://www.wealth-lab.com/Discussion/Add-Trading-Preference-to-exit-position-based-on-executed-order-size-12192

Thank you for the answers. I have a much better understanding of the topic now and will dive deeper into the documentation.

To be honest, I posted here as a last resort and wasn't sure if I’d get a response, so I truly appreciate your prompt help and support.