Automated Trade Executor

AlgoKing's executor maintains WebSocket connections with automatic reconnection. If connection drops, pending orders remain at the exchange. Upon reconnection, the system reconciles positions and order status. Critical: existing orders continue to work at the exchange even if you're disconnected. Have a backup connection method (mobile data) and know how to access your broker's app to manage orders manually if needed.

Yes, that's one of the primary benefits of automation. Once configured properly with appropriate risk controls, the system executes without human supervision. However, ensure: 1) Daily loss limits are set to prevent disasters, 2) You have mobile notifications for important events, 3) Someone can access the kill switch in emergencies, 4) The underlying strategy is well-tested and robust.

Key metrics to track: 1) Fill rate - should be >95% for liquid instruments, 2) Slippage - should be <10 basis points for liquid stocks, 3) Rejections - should be <2% of orders. AlgoKing provides an execution dashboard showing these metrics. Compare your actual returns with theoretical (backtest) returns - large differences indicate execution issues.

Cash (settled / delivery) trades are paid in full and settle T+2 via CDP - you own the shares outright. Contra lets you buy and then sell (or vice versa) within the settlement window and net-settle only the difference, without putting up the full amount - convenient but you carry price risk until the contra due date. Margin financing lets you hold leveraged or overnight positions against collateral, at broker-set rates. Use cash for investing, contra for short-term round-trips, and margin financing carefully for leverage. There are no India-style CNC/MIS/NRML codes.

Common rejection reasons: 1) Insufficient margin/funds - add money or reduce order size, 2) Price outside circuit limits - wait for circuit to lift, 3) Invalid quantity (not in the 100-share board lot, or below an index-future's lot) - adjust quantity, 4) Market closed - use an after-hours / queued order, 5) Instrument not tradeable - verify symbol and exchange. Check the rejection message for specific reason code.

For illiquid options: 1) Never use market orders - slippage can be severe, 2) Start with limit orders at mid-price, widen gradually, 3) Consider whether the strike is necessary or if a more liquid strike achieves similar exposure, 4) Be patient - illiquid options may take minutes to fill, 5) Size appropriately - don't try to execute 50% of open interest, 6) Monitor bid-ask spread - if >5% of premium, reconsider the trade.

Momentum strategies typically benefit from AGGRESSIVE or ADAPTIVE mode. Momentum signals have short shelf life - price continues moving in the signal direction. Waiting for limit fill while price moves away costs more than slippage on a market order. However, use limits for high-conviction entries where you're ahead of the move. ADAPTIVE mode works well - starts passive, becomes aggressive if price moves away.

Iron condors have 4 legs which creates complexity. Approach: 1) Break into two credit spreads (call spread + put spread), 2) Execute each spread as a unit using exchange spread orders if supported (SGX offers some predefined futures spreads), 3) Or execute most liquid leg first, then remaining legs quickly, 4) Use limit orders with reasonable width, 5) Have legging risk mitigation - if one spread fills but other doesn't, hedge temporarily, 6) Target liquid monthly index or overseas option strikes (SGX single-stock options are thin), avoid far OTM low-liquidity options.

Most broker APIs (Interactive Brokers, Saxo, Tiger, moomoo) support order modification via a modify endpoint. You need the original order ID and can change price, quantity, or type. Considerations: 1) Modification requests count toward rate limits, 2) There's a brief moment where modified order may not be in book (gap risk), 3) Not all fields can be modified - consult API docs, 4) If modification fails, original order remains (unlike cancel which removes it). Always verify modification status via order status endpoint.

Market open (9:15-9:30 AM) has high slippage because: 1) Overnight news causes gap opens, 2) Pre-open auction may have set price far from previous close, 3) Liquidity is building - order books are thin, 4) Price discovery is happening - more volatility, 5) Many orders competing simultaneously. Best practice: Wait 10-15 minutes for liquidity to normalize unless your strategy specifically requires open execution.

Information leakage occurs when market participants detect your trading intentions. Minimize by: 1) Randomize order timing within intervals, 2) Vary order sizes (not always round numbers), 3) Don't place large visible orders - use iceberg, 4) Mix aggressive and passive execution unpredictably, 5) Avoid predictable patterns (e.g., always executing at VWAP), 6) Consider spreading across correlated instruments, 7) Monitor for patterns in your own fills - consistently getting the worst of bid-ask suggests detection.

Delta-hedged strategies (e.g., long gamma scalping) require coordinated options and futures execution. Considerations: 1) Execute options first - they're less liquid and define your delta, 2) Calculate required futures hedge immediately after options fill, 3) Account for options delta change during execution (gamma), 4) Use fast execution for futures to lock in hedge, 5) Consider exchange-native spread products where available, 6) Monitor net delta in real-time, 7) Have tolerance bands - don't over-trade to maintain perfect delta.

SGX single-stock options are thin, so the relevant expiries are index and overseas futures and options (e.g., MSCI Singapore, Nikkei 225, FTSE China A50), which have monthly expiries. Near expiry: 1) close positions well before the contract's final hours if possible, 2) be aware of pin risk - strikes near the current level see unusual activity, 3) delta and gamma become extreme for ATM options, 4) spreads widen significantly in the last hour, 5) use more aggressive limits - theta decay costs more than slippage, 6) monitor open-interest concentration for likely pin levels, 7) keep emergency market-order capability ready, 8) consider rolling to the next contract early in the day if you intend to maintain the position.

Benchmark against: 1) VWAP - did you achieve better than VWAP?, 2) Implementation shortfall vs theoretical - total cost of your approach, 3) Arrival price - price at signal time vs average fill, 4) Market close price - for longer executions, 5) Your own historical performance - are you improving?, 6) By market condition - track performance in trending vs ranging vs volatile markets separately. Also track: fill rate, average time to completion, cancellation rate, modification rate. Statistical significance matters - don't draw conclusions from small samples.

For current Singapore regulations: 1) Log everything - signals, orders, fills, modifications, cancellations, 2) use unique order tags linking back to the algorithm ID, 3) maintain records (MAS guidance commonly cites at least 5 years), 4) implement and test kill-switch functionality, 5) follow your broker's API / DMA terms and SGX member rules, 6) monitor for and respond to exchange surveillance queries, 7) stay updated on MAS and SGX notices regarding algorithmic and DMA trading, 8) maintain documentation of algorithm logic and risk controls, 9) implement reconciliation processes with broker records. Consider engaging a compliance adviser as regulations evolve.