If you start getting into the realm of acting like those algos that put in dubious orders that are very rapidly changed or cancelled, then you may stray into problematic territory. Otherwise, you’re likely fine, though obviously check your broker’s T&Cs. The concern I would be more concerned with - depending on what you’re doing - is conflicting orders and/or becoming overexposed to a given currency if you’re operating in multiple pairs.
@rhody what do you mean for dubious orders? I am not going to place pending with my EA, only immediate orders, what do you mean for conflicting orders? having opened sell and buy for the same currency? if that’s the case I have a check in place for it. What do you mean for being overexposed to a given currency?
@eddie the first part I developed is the risk and money management so a limit for the size of each trade and a check of the free margin before opening a new position
If you’re not placing pending orders that’s fine.
what do you mean for conflicting orders? having opened sell and buy for the same currency? if that’s the case I have a check in place for it.
OK. That’s good.
What do you mean for being overexposed to a given currency?
I mean if your system operates in multiple pairs and signals are being generated across more than one of them at the same time you could end up over-exposed. For example, longs in EUR/USD and GBP/USD at the same time would see you double short the USD. If you’re only trading one pair, then is obviously isn’t an issue.
Some brokers have throttle rules on their servers. I used to get messages like:
“Too many requests of type Cmd-44. Only 50 attempts per 3600 seconds are allowed. Try again in 1561.2 seconds;”
Thanks guys for the replies, I knew I was in the right place
@eddie
nope, I programmed it so that I can choose a limit of risk before run it, for example limit each trade to risk max x% and avoid new orders if the free margin will go under y% of my balance, the EA will consider the above parameters and the SL to calculate the position size, I think this is the basic in terms of risk management and I can improve it if necessary
@rhody
I might program it to place conflicting pending orders, meaning before a news I will place both sell and buy pending orders and delete one as soon as one is triggered
Good advise the third! I will keep it in consideration
@mihk
Ouch, this can be an issue… I am aiming to work on the 1 and 5M and I will be opening/modifying/closing several orders in 1 hour (3600 seconds), is this specified in the T&C?
The open trades limit depends on broker and also on account types, it does not depend on time frame you are using. Different brokers have different limit for open order in different account types.
I had a grid at 2 pips interval. The traffic was too high during volatility. I’ve been using TimeInForce=IOC , and I’ve been told to change that to GTC. The other option (I used) was to log off + log in again. Nothing in the T&C. The guys developing the broker API are in Russia. They have a forum though to help with questions and code samples.
Hello, According to me there are no limit in the number of trades allowed per time frame. If the system operates in multiple pairs and signals are being generated across more than one of them.