http://forum.inklingmarkets.com/forums/3/topics/107 en-us 60 <p>Great News Nate!<br />While I&#8217;m on a roll with this, I would like to add one more item to consider &#8211; Limit Orders for Exits/Entries.</p> <p>When a position moves in a favorable direction there can be an advantage available to a trader to take the money and move on to something else, or close out the position and enter at a more favorable level. This is happening now in a couple of my current positions where the probability my initial direction guess was correct is increasing in probability. In this type of situation it seems like it would make sense/price-points to close out the position as it accumulates a predetermined price level and then consider entry at a more favorable calculation level for market termination.</p> <p>Using Limit Orders for predictions would also expand the number of markets I would be interested in if there was an available Enter-at-Limit price option. In some cases, it is hard to see an advantage in taking a position when market sentiment is so bullish or bearish that the opportunity to a favorable conclusion is worth the risk at that point in time. In those cases, I&#8217;ve seen markets where I would take a position if the sentiment were at a more favorable level.</p> <p>This means that if I could have placed a Limit-Order to enter either long or short (assuming assets available) at a user selected price Limit, this would allow a trader to enter a position if the probability moved to where a trader might see a better risk-reward ratio, without them having to grind through the long list of markets each day to update the current market’s probability level.</p> <p>Have there been any thoughts on these kind of trading orders?</p> Mon, 11 Feb 2008 17:49:54 -0000 forum.inklingmarkets.com:3:107:327 Roger http://forum.inklingmarkets.com/forums/3/topics/107 <p>Yes, it would be a great feature and thanks for the input you guys. It&#8217;s on a list of things to consider getting done soon.</p> Fri, 08 Feb 2008 19:09:36 -0000 forum.inklingmarkets.com:3:107:326 nate http://forum.inklingmarkets.com/forums/3/topics/107 <p>In principle it is possible to integrate these kinds of bids/offers into the kind of automatic market maker that Inkling uses, but my understanding is that it very significantly complicates the operation of the market. (Currently, the market maker can calculate directly the price effects of various offers. I think to integrate standing orders would require the market maker to combine the formulaic calculation with database look-ups and adjustments to the calculation for each order found, with a resulting significant slow-down in performance.)</p> <p>However, I&#8217;m just tossing in my two bits; I don&#8217;t speak for Inkling.</p> <p>I can see the value in what your propose and would be interested in hearing Inkling&#8217;s response.</p> Fri, 08 Feb 2008 17:30:39 -0000 forum.inklingmarkets.com:3:107:325 onemike http://forum.inklingmarkets.com/forums/3/topics/107 <p>Not being able to have an active standing order to Close-Out a position at a trader selected price is an uncomfortable way to trade, even though we are using virtual money.</p> <p>Not having a Position&#8217;s Risk-Value, and an Account Open-Risk value keeps the presence of risk in the background.</p> <p>If a standing exit order along with the risk to that order was available, it would allow position trading to be more in line with how professionals trade real markets with real money. This would then allow position sizing decisions to be based upon initial position risk and then allow the trader to move the standing Close-Out order as the market moved in their direction, or be out of the market whether they were able to access the site or not.</p> <p>Are these options being considered at some point?</p> Thu, 07 Feb 2008 21:08:08 -0000 forum.inklingmarkets.com:3:107:322 Roger http://forum.inklingmarkets.com/forums/3/topics/107