Enhance Bracket Order Implementation with Server-Side OCO Support
Posted: Thu Jun 20, 2024 9:44 am
Description:
Currently, Bookmap generates bracket orders (take profit and stop loss) only after the parent order is filled. This can be risky if there’s a loss of connection or data feed issues with Rithmic or CQG. If a limit order fills during a connectivity issue, the position remains unprotected since the bracket orders aren't placed.
Request:
Please consider enhancing Bookmap to utilize server-side OCO capabilities provided by brokers. By sending the parent order along with its brackets as a single OCO chain, Bookmap can:
Server-side OCO support is critical for traders managing their own capital, as it aligns with industry standards and improves trading reliability and safety. Implementing this feature would make Bookmap more robust and secure.
During a recent power outage and mobile data overload in my area, I couldn't manage my positions due to the current bracket order handling limitations in Bookmap. My limited research suggests that both Rithmic and CQG support server-side OCOs, which could prevent these vulnerabilities.
Currently, Bookmap generates bracket orders (take profit and stop loss) only after the parent order is filled. This can be risky if there’s a loss of connection or data feed issues with Rithmic or CQG. If a limit order fills during a connectivity issue, the position remains unprotected since the bracket orders aren't placed.
Request:
Please consider enhancing Bookmap to utilize server-side OCO capabilities provided by brokers. By sending the parent order along with its brackets as a single OCO chain, Bookmap can:
- Protect the entire order server-side, reducing the risk of unprotected positions during connectivity problems.
- Provide traders with more security and peace of mind.
Server-side OCO support is critical for traders managing their own capital, as it aligns with industry standards and improves trading reliability and safety. Implementing this feature would make Bookmap more robust and secure.
During a recent power outage and mobile data overload in my area, I couldn't manage my positions due to the current bracket order handling limitations in Bookmap. My limited research suggests that both Rithmic and CQG support server-side OCOs, which could prevent these vulnerabilities.