- ago
It seems that it runs every minute (on a dummy broker, but I will trade live on Interactive Brokers). It is too slow for my day trading strategy. Is it possible to set runs every 10-15 seconds?

Thanks for your help.
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Cone8
 ( 27.64% )
- ago
#1
No, that's not possible for the Strategy Monitor.
You can use second intervals in Streaming charts though - you'll need IQFeed for that.
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- ago
#2
Hey Cone,

I do have IQFeed on WealthLab. In live trading with Interactive Brokers, is there a way to do this? I mean I need to move my stop within 10 seconds of my target price being hit. How do I set seconds on the charts? I see custom but no second option.

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Cone8
 ( 27.64% )
- ago
#3
QUOTE:
I see custom but no second option.
You need to look again at the Scale Type.

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#4
Thanks. In live trading with Interactive Brokers, setting the chart to 1 second will move the stop within the second?
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Glitch8
 ( 12.33% )
- ago
#5
It will execute your complete Strategy code every second.

This is likely not feasible.

The crux of WL8 is building a Strategy that can be backtested, and then put into operation in live trading. Have you built and backtested a Strategy on historical one-second bar data?

Before jumping into seconds interval, I recommend spending some time with WL8 to learn how to operates on a minute basis. Once you have a good grasp of the fundamentals you can jump into trying out seconds based intervals.
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Best Answer
- ago
#6
Thanks, Glitch. The strategy is based on a one-minute bar and has been backtested and tested on that, not on-second intervals.
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Glitch8
 ( 12.33% )
- ago
#7
Ok then you’d want to use one minute as the scale. You can implement a same bar exit but there’s currently no way to respond to anything happening at a frequency less than the one minute scale.
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#8
So if I understand well, it is not possible to update live IB positions by the second even if I use IQFeed and seconds intervals.
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Cone8
 ( 27.64% )
- ago
#9
IB Positions will update anytime there's an update, but not faster than every 1 second.

Running Strategies every 1 second can be problematic. You can try with a dummy IB account first and see how far you get.
I'm not recommending it though.
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#10
streaming charts allow you to execute a strategy on all intervals (on the other hand tick cannot be backtested).
I have already tried to execute a strategy with IQFeed on a very volatile asset in 30 ticks which consists of buying and selling 5 bars later, and the position opened and closed in less than half a second.
So if you use a strategy in second, it will execute all orders (limit, stop, target...) without problem.
If you want to “combine” with discretionary trading why not use IB hotkeys.

On the other hand, in the very short term, the execution of orders is important, WL would have to take into account different orders (stop-limit, IBALGO, etc.) which comes out of the context of the software and this will be of no use in backtest. Can a moderator tell me all the same if this is feasible?

To come back to strategy monitor, why not add a delay to “run now”:



so as to execute and update signal, stop/targets much more quickly.
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Cone8
 ( 27.64% )
- ago
#11
QUOTE:
To come back to strategy monitor, why not add a delay to “run now”:
I can't even imagine how adding a delay to "Run Now" even makes sense, but if you want to talk about it, start a new topic.
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Cone8
 ( 27.64% )
- ago
#12
QUOTE:
I mean I need to move my stop within 10 seconds of my target price being hit.
In this case, set the chart scale to 10-second bars. You should backtest with that scale first, but I think running a Strategy every 10 seconds on a fast machine is probably feasible to trade live.
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- ago
#13
Hey Cone,

The strategy works on 1 minute but backest with 10 seconds I am getting errors
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Cone8
 ( 27.64% )
- ago
#14
You need to upgrade to Build 81.
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- ago
#15
Upgraded, backtest works now on 10 seconds interval, will test live tomorrow. Thanks Cone!
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- ago
#16
Works on backtest but no signals on strategy monitor, probably because my machine is too slow. I am getting a Falcon super fast laptop, will see if it works then.
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Cone8
 ( 27.64% )
- ago
#17
Any scale below 1 Minute will never work in the Strategy Monitor (and I do mean "never").
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Cone8
 ( 27.64% )
- ago
#18
And now that I've looked into it, I'll retract that previous post, and state it this way:
The S. Monitor is not designed to support bar intervals less than 1-Minute.

The case is that we never considered that the S. Monitor would be run on bar intervals faster than 1-Minute, which is one reason the seconds aren't displayed for "Next Run".

Often, tickers won't trade for short intervals like 1 minute (or even 5 minutes) and the S. Mon. will poll/wait up to 40 seconds for an update for the last bar before moving on. So clearly this isn't going to work for even 30-second bars.
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- ago
#19
Got it, thanks
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