Hello everyone,
I have two questions regarding automated trading in Wealth-Lab. I’ve already sent them to support, but I’d like to discuss them here as well.
1. Why are more than 10 positions being opened when I am trading 20% equity?
I have set my position size to 20% equity and limited the number of open positions to a maximum of 5. However, in the Order Manager, I sometimes see more than 10 positions being opened. Does anyone have an idea why this is happening?
2. Where can I see my open orders in Wealth-Lab?
I can see my open orders in Interactive Brokers, but they don’t seem to appear in the Wealth-Lab Order Manager.
Are they being monitored at all?
Is there a specific setting I need to enable to see them in the Order Manager?
I have attached some screenshots showing my current settings. Maybe someone has an idea what could be causing this.
Thanks in advance for your help!
I have two questions regarding automated trading in Wealth-Lab. I’ve already sent them to support, but I’d like to discuss them here as well.
1. Why are more than 10 positions being opened when I am trading 20% equity?
I have set my position size to 20% equity and limited the number of open positions to a maximum of 5. However, in the Order Manager, I sometimes see more than 10 positions being opened. Does anyone have an idea why this is happening?
2. Where can I see my open orders in Wealth-Lab?
I can see my open orders in Interactive Brokers, but they don’t seem to appear in the Wealth-Lab Order Manager.
Are they being monitored at all?
Is there a specific setting I need to enable to see them in the Order Manager?
I have attached some screenshots showing my current settings. Maybe someone has an idea what could be causing this.
Thanks in advance for your help!
Rename
Thanks for posting.
1. Re: the 20% equity size.
A backtest will limit your positions to 5 with 1:1 margin because it’s a backtest. The “top 5” positions by Transaction.Weight are the ones the backtest will pick. Other Transactions that won’t be added due to buying power become “NSF Positions”, which are removed from the hypothetical backtest results.
(You should also enter a little margin, 1.05 : 1, so that you can still enter trades that gap up. Otherwise, you’re likely to often to be left with only 4 positions instead of 5. This is explained more in the Help guide – see Basis Price.)
Re: Signals
Unless you specify otherwise, WealthLab generates all signals. If your Strategy signals with Auto-Place, all the signals go to the broker. You can limit the number of Max Entry Signals in the Position Size control. The top-weighted signals are the ones selected. More options exist for the Strategy Monitor Auto-Trading.
2. Re: Orders
There's a difference between Signals and Orders. But if your orders disappeared, it's because you have these Auto-Remove buttons checked.
Hello everyone,
I’m experiencing issues with my setup. Too many positions are being opened, even though I have configured my strategy to allow only a limited number of positions.
Additionally, I am seeing Sell Orders, even though my strategy should only allow Buy Orders.
I’ve attached some screenshots of my settings and the Order Manager. Hopefully, someone can help me identify the issue.
I would really appreciate any help. Thanks in advance! 🙏
Best regards,
I’m experiencing issues with my setup. Too many positions are being opened, even though I have configured my strategy to allow only a limited number of positions.
Additionally, I am seeing Sell Orders, even though my strategy should only allow Buy Orders.
I’ve attached some screenshots of my settings and the Order Manager. Hopefully, someone can help me identify the issue.
I would really appreciate any help. Thanks in advance! 🙏
Best regards,
What actions have you taken in response to the email and the above?
There's a lot you're misunderstanding, so let's start with this: "I am seeing Sell Orders".
Let's not talk about anything else until you understand what you're seeing sell orders.
The reason for the sell signals is that you're running a hypothetical backtest and there are positions in those symbols. Your backtest processes the exit logic for symbols with positions and generates the sell exit signal for those hypothetical positions. When you agree, we'll move to your next issue.
If you don't agree, post an image of your strategy's design surface and we'll discuss it.
There's a lot you're misunderstanding, so let's start with this: "I am seeing Sell Orders".
Let's not talk about anything else until you understand what you're seeing sell orders.
The reason for the sell signals is that you're running a hypothetical backtest and there are positions in those symbols. Your backtest processes the exit logic for symbols with positions and generates the sell exit signal for those hypothetical positions. When you agree, we'll move to your next issue.
If you don't agree, post an image of your strategy's design surface and we'll discuss it.
Thank you very much for the detailed help. Yes, I understood everything up to this point. I also tried clicking on Specific Broker/Account, but when I close Preferences, it automatically switches back to Defaults.
All the settings are saved, so it doesn't matter where it starts. But if you're showing us the Thresholds for your account, you have to select "Specific Broker/Account" and then the Account. When you do that you'll see the Thresholds for the account.
Now here's the second point:
Thresholds do not matter to you because you're not Auto-Trading. Thresholds, when exceeded, only prevent Auto-Placed orders going to the broker.
If you're clicking "Place", then nothing will stop those orders because they are manual orders that you're specifically placing.
If that's clear, what do you want cover next?
Now here's the second point:
Thresholds do not matter to you because you're not Auto-Trading. Thresholds, when exceeded, only prevent Auto-Placed orders going to the broker.
If you're clicking "Place", then nothing will stop those orders because they are manual orders that you're specifically placing.
If that's clear, what do you want cover next?
But how can I set Specific Broker/Account if I want to fully enable Auto-Trading?
It doesn’t let me save the setting—every time I select it and close Preferences it switches back to Defaults when I reopen it.
I also saw in the forum that other users have reported similar issues. Is this a known bug in the program? Or is there a workaround to make sure the setting stays saved?
It doesn’t let me save the setting—every time I select it and close Preferences it switches back to Defaults when I reopen it.
I also saw in the forum that other users have reported similar issues. Is this a known bug in the program? Or is there a workaround to make sure the setting stays saved?
It’s not a bug. When you open the preferences it shows you the defaults by default. That doesn’t mean your broker specific setting are lost. They are still there. The defaults just apply to accounts that you have not set up.
It’s designed this way to support users who work with many accounts and want to set thresholds for some accounts individually but also maintain defaults for the rest of their accounts.
It’s proven to be somewhat confusing so we’ll likely redesign this at some point.
It’s designed this way to support users who work with many accounts and want to set thresholds for some accounts individually but also maintain defaults for the rest of their accounts.
It’s proven to be somewhat confusing so we’ll likely redesign this at some point.
Apologies, I have now looked into it again. It was my mistake – I thought I was enabling full Auto-Trading directly in the Order Manager. That was incorrect.
The correct process is:
- I manually place my orders through "Quotes and Price Triggers"
- These orders then go to the **Order Manager**
- There, I can **enable Auto-Trading only for my exit strategy
Okay, I hope I’ve finally understood it correctly. :)
Thanks again for the detailed support! 🙌
The correct process is:
- I manually place my orders through "Quotes and Price Triggers"
- These orders then go to the **Order Manager**
- There, I can **enable Auto-Trading only for my exit strategy
Okay, I hope I’ve finally understood it correctly. :)
Thanks again for the detailed support! 🙌
Hello, I have understood everything so far. But why doesn’t the "Quotes & Price Trigger" window open when I click "Send to Quotes Window"?
And when I open it manually, there are no signals available.
And when I open it manually, there are no signals available.
Quotes and Triggers are for Limit and Stop orders only.
Yours are Market orders, these need to be placed by you before the session opens. Like I instructed you to do, just highlight the number of Market orders that you want to place and click Place Orders. You should pick the ones with the greatest Weights (least negative) which are at the top of your list.
There's no need to "Auto-Trade" a strategy like this, but if you want to, you can add it to the Strategy Monitor and configure it to Auto-Place the orders for you. However, I recommend against this for now until you understand some of the finer points of Auto-Trading with Market orders after attending our next Webinar on 25 February - sign up on the Home Page.
Yours are Market orders, these need to be placed by you before the session opens. Like I instructed you to do, just highlight the number of Market orders that you want to place and click Place Orders. You should pick the ones with the greatest Weights (least negative) which are at the top of your list.
There's no need to "Auto-Trade" a strategy like this, but if you want to, you can add it to the Strategy Monitor and configure it to Auto-Place the orders for you. However, I recommend against this for now until you understand some of the finer points of Auto-Trading with Market orders after attending our next Webinar on 25 February - sign up on the Home Page.
Can I see my open orders, or only in my broker? I have now executed an order as you described for testing, but I can only see it in my broker. Will it still execute my exit strategy? I can only find it in my broker.
Why did you post a picture of the Order Manager without any orders?
You didn't place any orders with WL, because none are there.
You didn't place any orders with WL, because none are there.
I just wanted to show that nothing is there. Clicked “Order Place,” and the order was gone. It’s now with the broker, but I can’t see it anywhere in WealthLab.
The only reason that would have happened is if Auto-Remove: Completed was checked. It's unchecked in the image, so I can only conclude that you unchecked it after sending the order. There's no other way for the order to get to the broker unless it goes to the Order Manager first.
Alright, I got everything now. I’ve been studying Wealth Lab for hours – burnout! 😅
Thanks a lot for your help! I felt a bit clueless at the beginning. 😊
One last question : I will only get the Trigger% values in "Quotes & Price Trigger" after the market opens, right?
Thanks again for everything! 🙌😊
Thanks a lot for your help! I felt a bit clueless at the beginning. 😊
One last question : I will only get the Trigger% values in "Quotes & Price Trigger" after the market opens, right?
Thanks again for everything! 🙌😊
QUOTE:Yes - if Filter Pre/Post Market is checked (the default) at the bottom of the Quotes tool.
I will only get the Trigger% values in "Quotes & Price Trigger" after the market opens, right?
The opposite is true if you uncheck that.
I'm glad that you're finding your way! The webinars will help too, please join the next one.
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