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Direct MessagesDate/Time: Thu, 25 Apr 2024 12:29:31 +0000
Is it possible to Activate ParticipateDoNotInitiate on Limit orders with Bitmex
View Count: 7236
| [2017-10-17 09:43:22] |
| gomifromparis - Posts: 244 |
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Bitmex has a taker/maker fee model, taker pays a 0.075% fee, maker is awarded a 0.025% bonus. So it's very important to be able to really decide if you wish to actually take liquidity,becauser you're going to pay for it. Limit orders and Stop Limit orders should be maker orders, but they do not always behave a such, if you enter a limit order and the market suddenly moves in the other direction, you will be filled instantly and be considered a taker. I also tried to enter stop limit orders with a 0 or -1 offset and they are often considered taker orders because they are actually filled instantly. So taker fee is applied (which costs about 4-5 points on the future) It seems Bitmex has a flag in the exection instructions that allows to manage this behaviour : https://www.bitmex.com/api/explorer/#!/Order/Order_new ParticipateDoNotInitiate: Also known as a Post-Only order. If this order would have executed on placement, it will cancel instead. Would it be possible that we have some access to this setting so we can flag all the limit and stop limits as ParticipateDoNotInitiate and avoid the taker fees ? |
| [2017-10-17 17:44:18] |
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This will be reviewed later on. Allow about 60 days.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2018-04-09 07:47:18] |
| User513228 - Posts: 41 |
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Hi, any new about that ? Stop Limit orders doesnt make a sense on BitMex when you pay same fees as market fees. It´s possible set limit offset to -1 for Trailing Stop Limit when i open Long position and offset 1 for trailing stop limit when i open Short position ?
Date Time Of Last Edit: 2018-04-09 08:27:17
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| [2018-04-09 08:40:05] |
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You need to use the new direct connection Sierra Chart has to BitMEX. This is documented in the set up instructions here: BitMEX Trading Service What you want is documented here: https://www.sierrachart.com/index.php?page=doc/BitMEX_Trading.php#SettingOrderExecutionInstructions Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2018-04-09 08:40:26
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| [2018-09-19 05:02:16] |
| 4646ed - Posts: 230 |
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did that work? are limit and stop limit orders consistently considered makers by bitmex after putting in those instructions?
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| [2018-09-28 11:11:52] |
| 4646ed - Posts: 230 |
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This does NOT work. I was hit by taker fees even though I put in the ParticipateDoNotInitiate Instruction for limit and stop limit orders. Have I missed something? Is this a mistake on Bitmex's part? Sierra CHarts refers us to Bitmex documentation - https://www.bitmex.com/api/explorer/# but they give no clear instructions that I can find on that page. I need clearer instuctions on how to avoid the Taker fee -- otherwise trading on Bitmex doesnt make sense. With taker fees you pay 4-5 pts a trade, 8-10 pts in and out. Those are really high and often insurmountable commissions. |
| [2018-09-28 12:37:25] |
| 4646ed - Posts: 230 |
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According to Bitmex the ParticipateDoNotInitiate Instruction is not coming through even though it is set in Sierra Charts Data/trade Service Window.
Date Time Of Last Edit: 2018-09-28 12:37:43
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| [2018-09-28 20:30:17] |
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We will be reviewing this.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2018-09-29 04:56:23] |
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You must be doing something wrong. There is this Data/Trade Service Setting setting for the BitMex service: Specify 'ParticipateDoNotInitiate' for Limit Orders Enable that. And in the next release it will also include Stop-Limit orders as well. And we have definitively verified that any custom execution instructions and this particular execution instruction is sent to BitMex, so we are confident that this is 100% false: According to Bitmex the ParticipateDoNotInitiate Instruction is not coming through even though it is set in Sierra Charts Data/trade Service Window.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2018-09-29 05:01:00
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| [2018-09-29 07:37:24] |
| 4646ed - Posts: 230 |
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Here's a picture of Data/Service Settings WIndow. Here's a quote from the support ticket I opened with them: "these orders do not have Post-Only enabled. If you hover over the order in your Order History panel in the TRADE part of the platform, the order would say "ExecInst: ParticipateDoNotInitiate"---I hovered and they did NOT say "ParticipateDoNotInitiate". Anyway, looking forward to next release to fix this. |
 Data-Trade Service Settings.PNG / V - Attached On 2018-09-29 07:33:17 UTC - Size: 31.4 KB - 425 views |
| [2018-09-29 07:41:10] |
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The next release is not going to fix anything in this regard. There are no changes other than specifying that instruction for Stop-Limit orders.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2018-09-30 08:56:26] |
| nioko54130 - Posts: 108 |
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Hi All ! and thank's for these information and shares! The limit orders is very important with BITMEX, especially when we know the amount of commission (in & out). But, is this limit orders function is now available and working well with sierrachart ? On these time, i'm working hard on the automated trading system which is based on the alert conditions ; but i have to be sure that this "limit orders" options is well available and works propperly. Thank's for the update on these topic Nico |
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