Slippage clarification

Posted By: Jeff_Raven

Slippage clarification - 12/08/13 16:01

I have recently discovered Zorro, looking for a alternative to MT4 which I've been programming in for years. I've read through the help file and manual and worked through the workshops and really like what I'm seeing.

I've been able to find explanations for everything I need with 1 exception: slippage. In MT4, when placing an order, one of the parameters is the maximum slippage allowed (in points, not pips). If the price in outside that slippage range, the order is not placed (market is moving too fast; broker is slow; latency is too large or something). In Zorro, the slippage is in seconds, which I understand, but is there a way to similarly restrict a market order in Zorro from being placed if the price is outside of particular range by the time the broker gets around to filling the order compared to what it was when I sent the signal to place the order?

Thanks in advance.
Posted By: jcl

Re: Slippage clarification - 12/09/13 06:58

There is indeed no max slippage parameter, Zorro always enters at the market. This could be implemented of course if it's needed.
Posted By: Jeff_Raven

Re: Slippage clarification - 12/09/13 13:09

Thank you for your response.

I would request that as an enhancement, then. I view it a lot like a stop loss; it's a safety net for the trader in case something unexpected happens to the trade. There are so many stages in the communication cascade between when a trade is initiated and when it is filled that this kind of safety measure is desirable.
Posted By: jcl

Re: Slippage clarification - 12/09/13 13:38

Ok, I'll put it on our to do list.

When you use the MT4 bridge, you can set max slippage in the Zorro EA in the #define SLIPPAGE line. It's 5 pips by default.
Posted By: Jeff_Raven

Re: Slippage clarification - 12/09/13 17:50

Great! Thanks.
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