Managed vs Unmanaged trading

In HaasScript, trading commands are split into two main categories: Managed and Unmanaged trading. Understanding the differences between these two categories is crucial to building effective trading bots.

Managed Trading:

Managed trading commands handle many of the routine trading tasks for you. For example, they handle order execution, order management, and position management. These commands are designed for novice users, or those who are interested in quickly prototyping a trading strategy without needing to write code to manage orders or positions. However, it has limited flexibility and does not allow advanced trading techniques like DCA (Dollar Cost Averaging) since the system only allows one trade per position and one open position at a time.

One of the key benefits of managed trading commands is that they offer a simplified programming interface. This can help users quickly understand and test new trading strategies without needing to understand the intricacies of managing orders and positions.

Unmanaged Trading:

Unmanaged trading commands offer advanced users more control over their trading strategies. These commands do not handle order execution, order placement, or position management. Instead, they give users full control over the order and position management process.

With unmanaged trading commands, users can create complex trading strategies that require custom order types, custom position management rules, and advanced risk management techniques. These commands are designed for users who have a deep understanding of the markets and trading strategies.

One of the key benefits of unmanaged trading commands is their flexibility. With these commands, users can create highly customized trading strategies that are tailored to their individual trading styles and goals.

Conclusion

It’s important to note that there is no “right” or “wrong” choice between managed and unmanaged trading. The best choice depends on the user’s level of experience, their goals, and the complexity of the trading strategy they wish to implement.

In summary, managed trading commands offer a simplified programming interface and handle routine management tasks for you, while unmanaged trading commands give you more control over your trading strategy and allow you to create highly customized strategies.