Bookmap supports only one way position mode ?!

[arianbhm]

Hi,

I got a message while connecting to bookmap account. "Bookmap supports only one way position mode, Please change it or you wont be able to trade". I changed my setting from Hedge to One way mode and then Bookmap worked. I wonder why it is not possible to open hedge positions via Bookmap. Come on, Bookmap, you can do better than that.   


Best Regards,

Arian

[rok_povsic]

Hi Arian,

Why do you prefer to use hedge mode instead of one-way mode?

The problem with integration of hedge mode with Bookmap is that there's no clear way of solving the following case: let's say that you are short 3 and long 10 in some instrument. You place an order of 5. What should happen - does one single order get sent to the exchange that increases your long position to 15, or do two orders get sent, one that closes the 3 short, and opens 2 long?

We could add some popups / settings to allow the user to switch between the two. But it adds complexity, so we decided against it so far.

If there's a good reason for supporting hedge mode we can still add it, and allow the user to switch between the above cases. We didn't since it appears to me that it only adds to confusion without any additional benefit - I could be wrong so your input is appreciated.

Best,
Rok

[arianbhm]

Hi Arian,

Why do you prefer to use hedge mode instead of one-way mode?

The problem with integration of hedge mode with Bookmap is that there's no clear way of solving the following case: let's say that you are short 3 and long 10 in some instrument. You place an order of 5. What should happen - does one single order get sent to the exchange that increases your long position to 15, or do two orders get sent, one that closes the 3 short, and opens 2 long?

We could add some popups / settings to allow the user to switch between the two. But it adds complexity, so we decided against it so far.

If there's a good reason for supporting hedge mode we can still add it, and allow the user to switch between the above cases. We didn't since it appears to me that it only adds to confusion without any additional benefit - I could be wrong so your input is appreciated.

Best,
Rok

Hi, Rok

Thanks for your response. As far as I know hedging is not allowed in US and probably this mode is not practical for US brokers and exchanges. Surely, there is no problem on other exchanges as I am doing hedging almost on all exchanges. The problem you may have is to open order as you said without specifying the type at the first place whether it should belong to (short or long) . There are buttons like short and long that must be hit when you want to set orders on exchanges such as limit, stop limit, or market order , etc, as a result the added (short or long) position would only be added to the previous long or short position if they have already been opened, so there would be no confusion, it is super easy.    

[jlee462]

I also very much need this. I have moved away from using Bookmap because it doesn't support this functionality. I would LOVE, LOVE, LOVE it if this could be implemented.

Please look into it.