Techniques for Pausing Trading : Seeking Community Insights - page 2
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To be honest you are talking a load of rubbish. How do you expect to control anything without source code access. You are simply looking to use brute force to break it not control it. For instance How do you expect to remove pending orders by shutting the network? They are already on the brokers side !!!! you clearly do not have the required skills or know how and quite frankly you are now being damn rude and sound like all the other wanna be fund managers
Paul, your assertion that controlling trading activities without source code access is impossible disregards the numerous techniques mentioned in my initial post and the answers I provided. It reflects a lack of understanding in trading management and trading systems to suggest that source code access is the sole solution. Additionally, your disrespectful tone and personal attacks on the forum are unwarranted and unprofessional. Engaging in constructive dialogue and respecting others' perspectives is crucial in fostering a supportive community environment. Let's maintain a respectful discourse and focus on finding effective solutions to the challenges at hand.
you are only seeing what you want to see, with regards to your initial post:
1. Putting the account on "Read Only Mode", thereby halting all trading activities even in the event of password changes.
there is no such thing and still wouldn't deal with existing pending and market orders already in place.
2. Implementing changes to account credentials, such as passwords, to cease trading operations.
This is not control, this is breaking the system, and still wouldn't deal with existing pending and market orders already in place.
3. Revoking API access to prevent third-party services from executing trades.
This is not control, this is breaking the system, and still wouldn't deal with existing pending and market orders already in place.
4. Closing terminals to halt EA and MQL5 signal trading.
This is not control, this is breaking the system, and still wouldn't deal with existing pending and market orders already in place.
5. Disabling Algo Trading functionality to prevent EAs from initiating trades.
This wouldn't deal with existing pending and market orders already in place.6. Deploying an EA capable of autonomously closing all pending and market orders
This will not stop new ones being created
So none of the above achieve control as I previoulsy said. If you want control then you need to be able check something, do something, and stop/start new events accordingly, not to go around breaking accounts, changing passwords and disconnecting the network, that is not control that is what you do when you have been hacked or things are out of control.
If you think your suggestions above show an understanding in trade management and trading systems then you are only deluding yourself.
you are only seeing what you want to see, with regards to your initial post:
1. Putting the account on "Read Only Mode", thereby halting all trading activities even in the event of password changes.
there is no such thing and still wouldn't deal with existing pending and market orders already in place.
2. Implementing changes to account credentials, such as passwords, to cease trading operations.
This is not control, this is breaking the system, and still wouldn't deal with existing pending and market orders already in place.
3. Revoking API access to prevent third-party services from executing trades.
This is not control, this is breaking the system, and still wouldn't deal with existing pending and market orders already in place.
4. Closing terminals to halt EA and MQL5 signal trading.
This is not control, this is breaking the system, and still wouldn't deal with existing pending and market orders already in place.
5. Disabling Algo Trading functionality to prevent EAs from initiating trades.
This wouldn't deal with existing pending and market orders already in place.6. Deploying an EA capable of autonomously closing all pending and market orders
This will not stop new ones being created
So none of the above achieve control as I previoulsy said. If you want control then you need to be able check something, do something, and stop/start new events accordingly, not to go around breaking accounts, changing passwords and disconnecting the network, that is not control that is what you do when you have been hacked or things are out of control.
If you think your suggestions above show an understanding in trade management and trading systems then you are only deluding yourself.
1. Read Only Mode: Contrary to your claim, Read Only Mode does exist. You simply need to request it from the institution you're trading with, typically via email or other means.
2. Changing Account Credentials: This is a valid method to halt trading operations. It’s not about "breaking the system" but about temporarily suspending trading activities for risk management purposes.
3. Revoking API Access: This is a standard practice to prevent unauthorized trades from third-party services. It’s about controlling access, not breaking the system.
4. Closing Terminals: This effectively stops EA and MQL5 signal trading. Again, this is about control, not breaking the system.
5. Disabling Algo Trading: This prevents EAs from initiating new trades, which is a legitimate way to manage automated trading.
6. Deploying an EA to Close Orders: This method doesn't halt trading but manages risk by preventing too many open positions and large drawdowns. While pending orders are deleted without cost, closing market orders involves trading costs. This is why I ranked it sixth, as it is the least effective solution but still viable.
Let's focus on providing useful solutions and maintaining a respectful dialogue.