EPA Failed Trade
Topic Starter
Thu Apr 23, 2020 - 11:56
Yesterday's signaled trade is shown today as Failed. This has happened before and was discussed before, but I was unable to find the exchange in the forums. And, I'm not sure it addressed my question ... which is ... What are subscribers to do if their trades didn't fail?

Should the Failed status be considered a Sell signal?

Of course, this does mean the authors reported results will deviate from the subscribers.

There are other alternatives (author manages a pseudo position), but they also bring distortions.

In any case, I think this needs to be thought thru and some policy established.
Thu Apr 23, 2020 - 15:08
Xramx, you need to see the EPA forum not this one, please direct your question to me, not here.

I do not manage "pseudo positions", and ask that you exit if filled.

The policy is that this is a rogue trade disclosed in the legal discussions of WS, and also disclosed in the Strategy Description as an intentional facet to the improvement of the strategy.

Your trade is based on conditional alerts of the instrument for whichever instrument you're trading and is absolutely intentional.

There is no policy that needs to change and is part of the strategy.

Please see the forum of ETF Pairs Arbitrage at https://www.wealthsignals.com/Strategy/Detail/ETF-Pairs-Arbitrage-9IP7Vx#comments
Topic Starter
Thu Apr 23, 2020 - 22:16
I was unaware of the EPA forum, but am now. I tried to delete this without success. Maybe you or someone could move it to the EPA forum.

I haven't found the info on "rogue trades", but will continue looking tomorrow.

After reading the "Strategy Description", which I found quite a challenge to understand, it does NOT seem to describe the straight forward system represented on WS's site. All the description of activities which have nothing to do with the simple buy/sell alerts published here, do nothing be confuse me. I will give it another try, but I'm not optimistic.

I did find a description of market trades, which are not market trades, but limit orders with a price 3% higher than the previous close. I'm assuming these are the "failed" trades. If not, could you point me to the section which describes the failed trades?

Hopefully, I can follow up tomorrow.

Thu Apr 23, 2020 - 23:04
Xramx, the trades that I issue use 97% of equity, so when you get a signal, add 3% to the current price as a condition less than or equal to so that you know based on the last price that the order should fill or not then cancel if it does not within the first two minutes.

In Active Trader Pro you can place these types of trades which act as a trigger that is a "conditional trade" such that you enter the instrument then a last price then less than or equal to "as the condition" to "trigger the order to buy" using the same size as the size you have for your subscription, and, in a margin account you can place a market order and if you see the "condition" does not trigger in the first one or two minutes you may cancel that trade and know it will not fill which is what I do for my family and I.

This is why the phrase "failed trade" or "pseudo position" is not what I do since I have been doing it that way knowing the position size used in the system does have a level where the trade would not fill and this is done using conditional trades based on the instruments own price, a last price for the open as day, less than or equal, then the price at 1.03 times the closing price is exactly the price that the trade will "avoid the bear trap."

So please remember for next time and I hope this helps and that you have conditional trading available in your brokerage. Just look under orders and use "conditional trade" as the method to avoid such fills in the future.

There is no way to place a conditional trade like this in wealthsignals or even other websites so just know that's the magic of it and was intentional that noticing such cases where there are significant gaps up in price from the time the WealthSignal is issued precisely allows you to know from the description that 97% of equity means a level 3% higher or the closing price multiplied by 1.03 is the level to use for the conditional trade then you may use the place order if condition to trigger your regular market or limit order.

Really this explanation should be noted but for vendors that do not follow the margin rules actually in place at brokers is difficult to determine if even those who are going beyond the margins allowed at US Brokers make this nearly impossible for subscribers to know these levels as readily as my own.
Fri Apr 24, 2020 - 18:29
1. All strategies have a system forum. Specific questions about a strategy should be discussed there.

2. For description about "rogue trades" click the Legal Disclosure in the footer and Ctrl+F "rogue". (Granted, we can do better about putting this information in a more accessible area.)

3. "Failed" is a generic term for a trade that failed for some reason. If you hover your mouse cursor over "Failed", the reason will magically appear in a pop up!
Topic Starter
Fri Apr 24, 2020 - 21:36
Thank both of you for the info.

Found "rogue" & applied the secret handshake to see the reason the trade failed.

I have used "Conditional Trades" thru ATP, but not like you describe. I played around some today & see what you mean. Still, I not sure how I feel about this approach. Will ponder some more.

Thanks again ... and I promise to always use the Strategy specific forums in the future.
To reply to this topic, you need to login first.