Trading Information Windows

General Information

This page documents the various Trading Information windows available in Sierra Chart, the available Trading related studies, and various other related information.

Sorting Lines, Reordering Columns, Adjusting Column Widths

On the tabs of the Trade >> Trade Orders and Positions window, there is the ability to sort the lines of data, reorder the columns and adjust the column widths. Refer to the image below.

On the tabs of the Trade >> Trade Activity Log window, there is the ability to reorder the columns and adjust the column widths only.

Setting Colors

The foreground and background colors of the content sections of the tabs of the Trade >> Trade Orders and Positions and Trade >> Trade Activity Log windows, can be customized with the following color settings in Global Settings >> Graphics Settings.

  • General Text Window Background Color
  • General Text Window Foreground Color

For instructions to set these, refer to Graphics Settings.

Additionally, in case of the Orders and Positions tab, the colors of Open and Completed borderlines have separate color settings. Refer to Orders Tab Font and Colors.

Trade Orders and Positions Window

This section gives an overview of the Trade Orders and Positions window. This window is a floating window that has its own scope, so it can be open at the same time as another attached window. For example, this window can be open and it is possible to select Analysis >> Studies and have the Studies window open and interact with both windows.

To open this window select Trade >> Trade Orders and Positions.

Trade Orders Tab

Select the Orders tab on the Trade Orders and Positions window.

This tab lists all Open orders, both simulated orders and orders for the connected Trading service. Simulated orders are prefixed with [SIM] in front of the Symbol.

When the Status of an order changes from Open or Order Sent to Canceled, Filled or Error, it will still be listed on this tab, but it is not persistent and will be cleared when Sierra Chart is restarted. There is no guarantee that orders other than Open orders, will be listed on this tab. Do not put reliance on orders other than Open orders from being listed on this tab.

Left clicking with your Pointer on a column header will sort rows according to that column. When left clicking again on the column header, the sort order will change from ascending to descending or the other way around.

Canceling Orders

  1. Select Trade >> Trade Orders and Positions on the menu.
  2. Select the Orders tab
  3. Highlight the order you wish to cancel in the list of orders by left clicking on it with your mouse pointer.
  4. To cancel multiple orders at the same time, hold the Control key on your keyboard and left click on each order to select them all.
  5. If the orders you are canceling are non-simulated orders, then make certain there is no checkmark by Trade >> Trade Simulation Mode On on the menu of the main Sierra Chart window.
  6. Press the Cancel button on the Trade Orders and Positions window to cancel these orders.
  7. You will receive a confirmation window. Press Yes to confirm. This confirmation window can be disabled with Global Settings >> General Trade Settings >> Display Confirmation for Order Cancellations through the Trade Orders Window.
  8. To cancel all working orders in the list, press the Cancel All button.

Canceling All Orders

  1. If you want to cancel non-simulated orders, make sure there is no checkmark by Trade >> Trade Simulation Mode On so that it is disabled.
  2. If you want to cancel simulated orders, make sure there is a checkmark by Trade >> Trade Simulation Mode On so that it is enabled.
  3. Select Trade >> Trade Orders and Positions on the menu.
  4. Select the Orders tab
  5. Press the Cancel All button on the Trade Orders and Positions window to cancel the open/working orders.
  6. You will receive a confirmation window. Press Yes to confirm. This confirmation window can be disabled with Global Settings >> General Trade Settings >> Display Confirmation for Order Cancellations through the Trade Orders Window.

Clearing Orders

Simulated Orders

To clear simulated open and completed orders from the Orders list, select Trade >> Clear Trade Simulation Orders and Data on the menu to clear them. This will cancel all Open Simulated orders and clear all of the Simulated orders listed. It will also clear simulated trading activity data in the Trade Activity Log as well.

Non-Simulated Orders

When you connect to the data and trade server, working and filled orders that the server still has for your account will be listed on the Orders tab of the Trade Orders and Positions window. They cannot be removed.

However, you can click on a column header, like the Status column, to sort the column and move the Open orders to the top of the list. Also, it is possible to view open orders only. See below for instructions.

Viewing Open Orders Only

To view only orders with a Status of Open in the Orders tab list, go to the Orders and Positions window by selecting Trade >> Trade Orders and Positions from the main window menu. Select the Orders tab. Enable the Orders >> Show Only Working Orders menu item.

Automatic Clearing of Orders

Non-working orders from the Trade Orders list are automatically cleared after a period of time. This is done for performance reasons and is a feature in newer versions of Sierra Chart.

To see these orders, the historical activity of the orders, and the order fills, refer to the Trade >> Trade Activity Log >> Trade Activity tab. It is recommended for the most consolidated view, to set the Trade Activity Log to display Fills only.

In the case of non-simulated working/open orders, they are cleared 20 minutes after the order becomes non-working from a working/open status.

When preforming an automated trading system backtest with Trade >> AutoTrade System Bar Based Backtest | AutoTrade System Backtest, or you are replaying a chart and have the replay mode set to Accurate Trading System Backtest Mode or Calculate at Every Tick/Trade, then trade orders which are no longer working in the Orders list will be removed from the Orders list.

The check to remove the non-working orders occurs at every chart update.

Refreshing Order Data

Orders which are considered Open (Working) orders will have an Order Status of: Order Sent, Pending Open, Pending Child, Open, Pending Cancel, or Pending Modify.

If there are open orders displayed on a chart or listed in the Trade >> Trade Orders and Positions >> Orders window tab, and you know they are no longer open, then press the Refresh Trade Data button on the Orders and Positions window. If Sierra Chart does not receive any data for an open order from the connected Trading service, it will be internally canceled either immediately or on a 45 second delay depending upon the Trading service. Internally canceling means the order is not actually canceled with the external Trading service, it is canceled within Sierra Chart which indicates it is no longer open.

There can be certain scenarios why Sierra Chart may not have received a status update for an order and the order still displays with an Open state. For example, if you disconnect from the Data and Trade server (File >> Disconnect), and then you cancel the order through another program, Sierra Chart will not know about this. However, when you connect again to the Data and Trade server, if Sierra Chart does not receive any data for listed orders that are in an Open state, they will be internally canceled. This occurs either within 5 seconds of the connection to the trading server, or after 45 seconds depending upon the Trading service.

Another step you can take if you question or have any issue with the Orders or Position data you see displayed on the Trade Orders and Positions window is to reconnect to the servers by selecting File >> Disconnect and then File >> Connect to Data Feed.

Order Field Descriptions

  • Entry Time: This is the Date and Time that an order has been added to the Trade Orders Window. It is not necessarily the time that the order was actually submitted.

    For example, when you connect to a trading service, the working orders will be requested and listed. If a working order is received from the Trading service and is not already listed, then this will show the Date Time that the order was added to this list.

    This Date Time is based upon your local computer clock when the order did not originate from a chart replay or back test. It does not originate from the server. This time is adjusted to the Time Zone setting in Sierra Chart. During a chart replay or back test, this Date Time is based upon the last Date Time in the replaying chart at the time the order was submitted.

    If an order has an incorrect timestamp or a slightly incorrect timestamp, then it may not match with the correct chart bar. It is important the computer's clock is set accurately when orders do not originate from a chart replay or back test. Refer to Help topic 38.
  • Last Activity Time: This is the Date Time that the listed order has been last updated. This is based upon your local computer clock and not the server. This time is adjusted to the Time Zone setting in Sierra Chart. During a chart replay, this Date Time is based upon the last Date Time in the replaying chart and not the current actual time.
  • Symbol: This is the symbol of the order. If the order is not simulated and sent to the connected Trading service, then the symbol will have no prefix in front of it. If the order is being handled by the Sierra Chart Trade Simulation Mode, then the symbol will have the [Sim] prefix.
  • Order Quantity: This is the quantity of the order. This can either be contracts, shares, or currency units.
  • Price: This is the price of the order. If the order has only one price, then this is the only price used.
  • Price2: In the case of Stop-Limit orders, this is the Limit price. Price2 is only used for Stop-Limit orders.
  • Status: This is the order status. It can be one of the following:
    • Order Sent: The trade order has been sent to the Sierra Chart Trade Simulation system or the connected Trading service. It will be changed to another order status once the Trade Simulation system or the connected trading service gives an indication that the order has been received.

      In the case of the Sierra Chart Trade Simulation system it will immediately change the status to Open. It will not remain in the Order Sent status.

      In the case of when an order is sent to an external connected Trading service, if the order is not acknowledged it will remain in the Order Sent status. In this case select Trade >> Refresh Trade Data From Service. Either the order status will immediately change or the order will be canceled by Sierra Chart within one minute if there is no response from the Trading service for it.

      For some of the supported Trading services, if an order is in the Order Sent status for an extended time, Sierra Chart will try to request the status of it automatically. The progress of this is displayed in the Trade >> Trade Service Log.

      Depending upon the Trading service you are using and the actual state of the order it may or may not be able to be canceled with a status of Order Sent.
    • Pending Open: This order status is only valid when an order is sent to the connected external Trading service. It is not used in Sierra Chart Trade Simulation Mode. It generally means that the connected trading service has indicated that the order has not yet reached an Open state and therefore it cannot be filled in this state. It should be possible to cancel an order in this state.
    • Open: The order is in a working state and can be filled. It may also be partially filled and still working. In the case of a non-simulated order, the connected Trading service has indicated that the order has been accepted and it is working. It is possible to cancel an order in this state. In Trade Simulation Mode, there are no partial fills, an order is either completely filled or not filled.
    • Filled: The order has completely filled or has been canceled before it has completely filled. In Trade Simulation Mode, there are no partial fills, an order is either completely filled or not filled. Generally there is no reason to cancel an order in this state, but it is possible to select the order in the Trade Orders Window and Cancel it.
    • Pending Cancel: A request to cancel the order has been made and confirmation of the cancellation is being awaited. It is possible to attempt further cancellations in this state.
    • Canceled: The order has been canceled. It is no longer working or in an Open state. It cannot be filled any longer. The order may have been partially filled. Whether a partially filled order that has been canceled will have a status of Filled or Canceled depends upon the Trading service you are connected to and what status they give. In the case of Trade Simulation Mode, a canceled order will always have a status of Canceled.
    • Pending Modify: A request to modify the order has been made and confirmation of the modification is being awaited. It is possible to cancel an order in this state.
    • Pending Child: This order status only applies to Attached Orders . It means the order is being held by Sierra Chart until the parent order fills partially or completely. The orders can be definitely and immediately canceled in this state. When the parent order partially or completely fills, then the Attached Orders will have their Status changed to Open.
    • Error: There was some error with the order. This could happen initially or at some other point during the life of the order. The reason for the error usually will be displayed in Trade >> Trade Service Log. The line in the Trade Service Log will contain the order's Internal Order ID and Service Order ID for reference.
  • Internal Order ID: This is a numeric identifier that Sierra Chart internally uses to identify the order. This is always an integer value.

    In the case where you have more than one instance of Sierra Chart running and connected to the same external trading account, non-simulated orders will be listed in each instance and for the same order with the same Service Order ID, the Internal Order ID will be unique for each instance.
  • Order Type: This is the order type. It can be any of the supported order types.
  • Filled Quantity: This is the quantity of shares or contracts that has been filled.
  • Average Fill Price: This is the average price of all of the order fills in the order. An order can fill in one or more parts. If the Quantity of the order is 1, there would only be one fill. If there is any question about the fill price of a simulated order, then refer to How Orders Are Filled.
  • Buy/Sell: This indicates the Side of the order. This can be either Buy or Sell.
  • Service Order ID: This is the order identifier provided by the external Trading service to identify the order. In the case of a Simulated order, using Sierra Chart Trade Simulation Mode, this will always be the same as the internal order ID.
  • Open/Close: This will be either Open or Close and indicates whether the order will open or close a position.
  • Parent Internal Order ID: This is the Internal Order ID of the parent order in case this is a Child/Attached Order. Otherwise this is 0.
  • Time in Force (expiration type): The Time in Force for the order. Possible values include Day, Good till Canceled, Good till Date Time, Immediate or Cancel, All or None, or Fill or Kill.
  • Good Till DateTime: If the Time in Force is Good till Date Time, then this field indicates the order expiration date and time.
  • Trade Account: The account identifier with your Trading service for which this order is contained in. In Sierra Chart Trade Simulation mode, simulated orders will indicate Sim#. The # is equivalent to any number from 1 to 400 indicating what particular Trade Simulation Mode account is being used.
  • Link ID: An Attached Order that is in the All Groups OCO Group or a parent order, will be split into smaller orders if there is more than one OCO group used in the list of Attached Orders submitted with an order. When an order is split into smaller orders, they are linked together and this indicates the Internal Order ID used for linking. It is the Internal Order ID of the first order in that group. When one of the orders in a group of orders linked together is modified or canceled, the other ones will be as well. This happens automatically.
  • OCO ID: If two orders are in an OCO (order cancels order) group, then this field will display the OCO Internal ID for that OCO group and it will match with the other order that is part of the same OCO group. The OCO Internal ID is the Internal Order ID of one of the orders in the OCO group.
  • Last Order Action Source: This field displays the source of the last action for the order and other detailed text information about the latest order action. In the case of a newly entered order, it will display the name of the chart the order originated from.
  • Exchange Order ID: This is the order identifier from the exchange that the order is submitted to. It may not always be available and could be blank. In the case of where Sierra Chart is routing orders through an intermediary Sierra Chart order routing server to a Trading service which then routes them to the exchange, this order ID will be the ID provided by that Trading service.

Orders Tab Font and Colors

The Font for the Orders tab of the Trade Orders and Positions window is set through the Global Settings >> Graphics Settings window. Refer to the Fonts documentation for this.

The name of the font is Text Windows Font.

The colors of Open and Completed order lines are colored separately. These colors are set through the Global Settings >> Graphics Settings window. The color settings are as follows:

  • Trade Orders Window Open Order: This color setting sets the color of order lines in the Trade Orders list that have an order status of Order Sent, Pending Open, Pending Child, Open, Pending Modify, or Pending Cancel.
  • Trade Orders Window Completed Order: This color setting sets the color of order lines in the Trade Orders list that have an order status of Filled, Canceled, or Error.

For more information, refer to Graphics Settings.

Trade Positions Tab

To view the Trade Positions window tab, select Trade >> Trade Orders and Positions on the menu.

The tab labeled Positions displays the current Trade Positions for non-simulated trading.

Overview

The Positions tab on the Trade Orders and Positions window displays the current Trade Positions for non-simulated trading.

This Trade Positions data is calculated from the order fills as they occur in real time and will be automatically synchronized to the Trading Service Positions data if it is out of sync with it. So the displayed Trade Positions on the Positions tab will always represent the accurate and current Trade Positions.

For a list of simulated Trade Positions, refer to the Trade Statistics for Charts tab on the Trade >> Trade Activity Log window.

Refresh Trade Data

The Refresh Trade Data button will refresh the non-simulated Orders and Positions data from the connected trade server. It has no effect upon simulated trading data. This never has to be done manually in almost all conditions since the Orders and Positions are automatically updated.

Flatten Trade Positions

Follow the instructions below to flatten all current non-simulated Trade Positions.

Flatten means to send a market order to make the current Position quantity 0.

  1. Select Trade >> Trade Orders and Positions on the menu.
  2. Select the Positions tab.
  3. Enable Position >> Cancel Orders for Symbol When Flatten, if you want all non-simulated open/working orders for the symbols having their Positions flattened, to also be canceled at the same time.
  4. In the list of Positions, select the Position or Positions lines you want to flatten. To select multiple Positions hold the Control key and select them one by one.
  5. Press the Flatten button.
  6. Press Yes to confirm.

Positions Tab Fields

The following is a list of the fields for each symbol displayed on the Positions tab on the Trade Orders and Positions window.

  • Symbol: This is the symbol for which the Position data is for.
  • Quantity: This is the quantity of the Position. This will either be contracts, shares, or currency units depending upon the type of market the Symbol is for.
  • Trade Account: This is the Account identifier for the Trade Position.
  • Trade Service Average Price: This is the Average Price of the current Position provided by the connected Trading service. Sierra Chart also calculates and maintains its own Average Price for the Trade Positions which is dynamically calculated from the order fills in the Trade >> Trade Activity Log. This calculated Average Price can be viewed on a chart, Trade DOM, and the Trade Statistics and Trades tabs of the Trade Activity Log. For more information, refer to How Average Price for Positions Is Calculated and Used.
  • Trade Service Position Quantity: This is the Position quantity for the symbol provided by the connected Trading service. The Quantity field is calculated by Sierra Chart by the order fills received. If the Quantity field becomes different than Trade Service Position Quantity, then Quantity is synchronized to the Trade Service Position Quantity.

    The reason there are two separate quantity fields is so that Sierra Chart can accurately determine whether a fill received is an opening or closing (entry or exit) fill. Sierra Chart cannot do this without maintaining its own independent Trade Position Quantity variable set from the order fill events received from the server.

Position Quantity and Automated Trading

In the case of one performing automated trading using ACSIL or the Spreadsheet System for Trading study, it is helpful to understand the following regarding the Trade Position Quantity fields.

The Trade Position Quantity which is the Quantity displayed in Sierra Chart and given to automated trading systems is updated by fills/executions. It is not directly updated by Trade Position data updates from the external trading service.

However, if the calculated Trade Position Quantity from the order fills is out of sync with the reported Trade Service Position Quantity from the external trading service, then after about 8 seconds the order fill calculated Position Quantity will be synchronized to the Trade Service Position Quantity after there has been an unsolicited update of the Trade Service Position Quantity.

If there is a solicited Trade Position data update, the synchronization happens immediately.

Only Single Consolidated Position Maintained and Displayed per Symbol and Trade Account

For each Symbol and Trade Account, Sierra Chart only maintains a single consolidated/combined Position Quantity and Position Average Price.

Sierra Chart does not maintain individual active Positions for each separate trade for the same Symbol and Trade account. If this is what you require, it is necessary to use separate Trade Accounts which are supported. Refer to Selecting Trade Account.

Simulated Trade Positions Quantities and Average Price

Simulated Trade Positions data for Trade Positions created while in Trade Simulated Mode are not displayed on the Trade Positions Tab of the Trade Orders and Positions window.

Simulated Trade Positions data are displayed on the Trade Window for a Chart or Trade DOM and on the Trade Statistics for Charts Tab on the Trade >> Trade Activity Log.

The current Trade Position Quantity you see displayed on a Trade Window and on the Trade Statistics for Charts tab for a particular Symbol is for the Selected Trade Account.

The current Simulated Trade Position Quantity for a particular Symbol and simulated Trade Account is calculated from all of the order fills in the Trade Activity Log >> Trade Activity Tab for that Symbol and Trade Account.

If Global Settings >> General Trade Settings >> Save Replay / BackTest Trade Activity is not enabled, then after exiting Sierra Chart, order fills occurring from a chart that is replaying or being back tested, will be lost.

The fills which make up the current Trade Position for a particular Symbol and Trade Account are the available unmatched opening fills for that Symbol and Trade Account which do not yet have a corresponding closing fill yet. Closing fills which have no matching opening fill, are not included in the calculation. The quantities of these unmatched opening fills are combined together. Buy fills are added, and Sell fills are subtracted. For example, 2 Buy fills with a quantity of 2 each, will create a Trade Position of +4. 2 Sell fills with a quantity of 2 each will create a position of -4.

A fill to fill Order Fill Grouping method is used in the Trade Position Quantity calculation.

The following will cause the Trade Position data for a Symbol and Account to be cleared:

Using Order Fill Calculated Positions In Special Cases

There are some special cases where you cannot rely upon the Trade Position data from the Trading service you are using. An example of this would be futures spread/strategy symbols often do not have reported Trade Position data for them but instead are reported for the outright contracts themselves. Another case would be where Trade Positions are not provided at all, as is the case with the LMAX Forex trading service.

In these cases it is necessary to use the Using Order Fill Calculated Trade Positions. In the case of TT FIX spreads/strategies and when using LMAX, the Order Fill Calculated Positions will automatically be used.

To confirm you cannot use the Trading service provided Trade Positions data, select Trade >> Trade Orders and Positions from the menu. Select the Positions tab from the Orders and Positions window. If you do not see the non-simulated Positions that you have in your trading account, or the symbols for those Positions do not match the Chart or Trade DOM, then it is necessary to use the Order Fill Calculated Positions.

For instructions to use the Order Fill Calculated Position for an individual chart or Trade DOM, refer to Using Order Fill Calculated Trade Positions.

When it is necessary to use the Order Fill Calculated Trade Position data in a Chart or Trade DOM because the Trading service does not provide any Trade Positions data or does not carry overnight Trade Positions, it is also necessary to enable the global setting Trade >> Use Fill Calculated Positions-Global, in order for the Trade Statistics and Trades tabs in the Trade >> Trade Activity Log to be reporting correct information.

When enabling Trade >> Use Fill Calculated Positions-Global, there will be a warning given. So long as you understand how the order fill calculated Trade Positions are calculated and there are no missing order fills, there should not be a concern about this.

Using Order Fill Calculated Trade Positions

For various reasons, when trading some symbols through some Trading services or with certain Trading services, you cannot rely upon the Trade Position data provided by the Trading Service you are using.

Trade Position data may not be available or it may not accurately track the true Trade Position Quantity for a Symbol and Trade Account. For example, when trading exchange traded futures spreads or strategies through some Trading services, no current Trade Position data is provided for that particular spread/strategy.

Additionally, you may want to have a Trade Position Quantity reported in a Chart or Trade DOM which begins from a specific Date-Time independent of the actual Trade Position Quantity for the Symbol and Trade Account.

Sierra Chart has a feature where you can see the current Trade Position Quantity and Average Price for a Symbol and Trade Account on a Chart or Trade DOM, calculated directly from all of the order fills Sierra Chart has for non-simulated trading for that Symbol and Trade Account.

This is a method by which you can track the current Trade Positions completely independent from the Trading service reported Trade Position data.

This feature can be enabled by Opening the Trade Window and enabling Menu/M >> Use Order Fill Calculated Position.

Use this option to report the Trade Position Quantity and Average Price based strictly upon the order fills that Sierra Chart has for the Symbol and Trade Account the Chart or Trade DOM is set to. This command is specific to each individual chart or Trade DOM it is enabled for.

You can switch in and out of this at will. If a fill is missed, Sierra Chart will attempt to download missing fills upon a connection to the server, so it can always accurately report the Trade Position for a particular Symbol and Trade Account so long as there are no missing fills.

This feature can also be enabled globally by enabling Trade >> Use Fill Calculated Positions - Global. This is necessary for Trading services which do not provide Trade Position data. This is true in the case of LMAX. Although this is automatically considered to be enabled in the case of when using LMAX. However, this will need to be manually enabled when using LMAX in another instance of Sierra Chart connected using the DTC Client to the main server instance of Sierra Chart.

It is important to be aware that Sierra Chart needs to have all of the order fills stored in the Trade Activity Log for the current order fill calculated Trade Position and the very first fill needs to be at a point in time where the Position was previously flat for the Symbol and Trade Account, for an accurate Trade Position Quantity and Average Price indication.

Otherwise, the resulting Trade Position Quantity and Average Price will be inaccurate. In this case, refer to Order Fill Calculated Trade Position Not Accurate.

Order Fill Calculated Trade Position Not Accurate

Since the Order Fill Calculated Trade Position relies upon order fill data for a particular Symbol and Trade Account in the Trade Activity Log, and not upon Trade Position data from the external Trading service, it is essential that Sierra Chart has all of the order fills that currently make up the current Trade Position for a Symbol and Trade Account and that those fills are accurate.

Therefore, if there is any inaccuracy with the reported Order Fill Calculated Trade Position Quantity or Average Price, then refer to the Solving Inaccurate Trade Statistics for Charts Field Values section. The documentation in that section also applies to this case as well.

Order Fill Calculated Trade Position Average Price

The Average Price for the Order Fill Calculated Trade Position is determined from the weighted average of the fill prices for the order fills which the Trade Position consists of.

For complete documentation, refer to How Average Price for Positions Is Calculated and Used.

Account Balance Tab

To display the Balance tab, select Trade >> Trade Orders and Positions >> Balance from the menu.

The Balance tab displays various fields of Account Balance related data. This data is only for non-simulated trading and comes from the Trading service Sierra Chart is connected to.

There is a separate line of Account Balance data for each Trade Account associated with the logged in Trading account username.

There is no Account Balance data maintained for simulated trading when Trade >> Trade Simulation Mode On is enabled.

Not all supported Trading services provide Account Balance related data and not all of them will continuously update this data. If the Trading service provides Account Balance data, it may be infrequently updated. If the Account Balance fields are empty, then this means that the particular Trading service you are using does not provide this data. In this last case, you will need to ask your Trading service about how to view their Account Balance data.

The frequency of the Account Balance data updating depends upon how often the Account Balance data is transmitted by the connected Trading service. This is not something that Sierra Chart can control.

Balance Tab Field Descriptions

  1. Trade Account: This is the trade account number. The account balance fields are for.
  2. Cash Balance: This is the cash balance in the account. Not provided with all Trading services.
  3. Available Funds For New Positions: This is the amount available to take new positions. Not provided with all Trading services.
  4. Margin Requirement: This is the amount required to maintain existing positions. Not provided with all Trading services.
  5. Account Value: This is the total account value of cash and securities in the Trade Account. Not provided with all Trading services.
  6. Account Currency: This is the currency for all of the other balance fields on the same line.

Trade Service Log

To display the Trade Service Log, select Trade >> Trade Service Log from the menu.

If the Trade Service Log does not display when selecting a menu command, then first select Window >> Reset Windows and select this same command again. The Trade Service Log will then be displayed.

The Trade Service Log displays the following messages:

  • Trading related messages from the connected Trading service Sierra Chart is connected to. This also includes error messages related to submitting new orders, modifying orders and canceling orders.
  • Trading related error and information messages from Sierra Chart.
  • Automated Trading related messages.

Interpreting Trading Service Order Related Messages

When Sierra Chart is connected to a Trading service, and Trade Simulation Mode is disabled, when there is some error related to the submission of a new order, modification of an order or canceling an order, the trading service will provide an error message, indicating the reason for this. This is going to be logged in the Trade connectivity Log with the order and that is also displayed in the Trade Service Log

Below is an example of this:

[trading service name] order update (Rejected). Text: Insufficient margin. Internal Order ID: #. Service Order ID: #. Symbol: [symbol] | Data-Time

The text after Text: originates from the trading service or trading platform service Sierra Chart is connected to. You will need to contact your broker for help with these types of messages. Sierra Chart support cannot provide any help with them.

Automatic Opening of Trade Service Log

In the case where the Trade Service Log is automatically opened when a message is added which requires a user's attention you can close the Trade Service Log by pressing the X button at the top right of that window or press the Close Log button.

Alternatively, you can just keep the Trade Service Log open and move it to the edge of your screen if you do not want to see it. When it is left open, it will not automatically open when a message is added which normally would open the Trade Service Log.

Some messages like automated trading messages can either open the Trade Service Log if it is not already open when they are added, or not automatically open the Trade Service Log. The setting that controls this is Global Settings >> General Trade Settings >> Open the Trade Service Log When a New Message is Added.

Trade Activity Log

To display the Trade Activity Log, select Trade >> Trade Activity Log from the menu. For more information refer to the Trade Activity Log page.

Trade Data Studies

Sierra Chart provides many studies that display trading information from the order fill data for the Symbol and Trade Account of the chart, in a graphical form for each bar in the chart.

To add one of the studies listed below to a chart, select Analysis >> Studies on the menu and Add them to the chart just like any other study. For complete instructions, refer to Adding/Modifying Chart Studies.

It is essential that the first order fill loaded into the chart is correct. For further information, refer to Understanding and Setting the Start Date-Time for a Trades List.

When Trade >> Trade Simulation Mode is checked, then simulated order fills will be used in the study.

When Trade >> Trade Simulation Mode is off/unchecked, then non-simulated order fills will be used in the study.

With all of these studies, when there is no order fill data for a particular bar in the chart, the study will carry forward and draw the prior value, if any.

In the case of all of these studies, a Closed trade consists of a fill that increases a Trade Position and the subsequent order fill that fully offsets that increase in the Trade Position. The Fill to Fill Order Fill Matching Method is used when determining a closed trade.

For the trading studies that display Profit/Loss values, the format of the Profit/Loss value is dependent upon the Chart >> Chart Settings >> Advanced Settings >> Profit/Loss Format display setting.

Profit/Loss formats which use - Ignore Quantity will be considered the format without the Ignore Quantity. Therefore, if you select Ticks - Ignore Quantity, it will be interpreted as Ticks.

  • Trading: Closed Profit/Loss: This study will display the cumulative profit/loss from closed Trades that there are order fills for in the Trade Activity Log for the Symbol and Trade Account. All available order fills are included. A closed Trade is one in which there is an opening fill and a closing fill. A currently open Trade which has no corresponding closing fill is not included in the study. For further details, refer to the Trades tab of the Trade Activity Log.
  • Trading: Daily Profit/Loss: This study will display the cumulative Profit/Loss from closed trades for each day in the chart. Each day is 24 hours. This is considered a Daily Trade Statistic which resets daily. For complete details, refer to Understanding Daily Trade Statistics Reset Time.
  • Trading: Maximum Drawdown: This study will display what the maximum drawdown is for closed trades at each bar in the chart.
  • Trading: Maximum Runup: This study will display what the maximum runup is for closed trades at each bar in the chart.
  • Trading: Profit/Loss Text: For more information about this study, refer to Trading: Profit/Loss Text Study.
  • Trading: Total Quantity Filled: This study will display the total quantity filled for closed trades, at each bar in the chart.
    • Input: Yes = Daily Values, No = Cumulative Values: When this Input is set to Yes, the trading data displayed by the study is reset daily. This is considered a Daily Trade Statistic which resets daily. For complete details, refer to Understanding Daily Trade Statistics Reset Time. When this Input is set to No, the trading data displayed by the study does not reset daily, it is cumulative.
  • Trading: Total Trades: This study will display the total number of closed trades at each bar in the chart.
  • Trading: Winning Trades: This study will display the total number of winning closed trades at each bar in the chart.
  • Trading: Losing Trades: This study will display the total number of losing closed trades at each bar in the chart.

Trading: Profit/Loss Text Study

The Trading: Profit/Loss Text study, is a study which displays various Profit/Loss values and trade statistics directly on the chart in text form. This text can be positioned anywhere on the chart by using the study inputs to control its position.

To add this study to the chart, refer to the Adding Chart Studies documentation.

For the non-daily Cumulative Profit/Loss values and the Trade Statistics like Closed Profit/Loss, this study uses all order fill data from the Trade >> Trade Activity Log >> Trade Activity tab.

To see the order fill data that the study uses, go to the Trade Activity tab and at the top set the Symbol setting to the symbol of the chart, set the Trade Account setting to the trade account of the chart, select Fills, select Simulated or Non-simulated depending upon the source of the fills, and set the Date-Time controls at the top to display all the fills for the symbol.

You will have to set a Date which is back from the current Date by the number of days that the Trade Activity Log stores data for. This will be from the current Date going back by the number of days set in Global Settings >> General Trade Settings >> Number of Days to Save in Trade Activity Log .

When Chart >> Chart Settings >> Advanced Settings >> Order Fills Start Date-Time has the Date box filled in, then order fills are only loaded into the chart since the starting Date-Time and not all of the order fills are used.

You may want to set Global Settings >> General Trade Settings >> Number of Days to Save in Trade Activity Log high enough to make certain you have all of the fill data needed for this study.

For more information, refer to the Trade Activity Log. Depending upon the first Date-Time of the order fills for a particular symbol, upon restarting Sierra Chart, there could be less historical fill data available after the restart if Global Settings >> General Trade Settings >> Number of Days to Save in Trade Activity Log is not set high enough.

The study has Yes/No inputs to display each of the items below. Below are explanations of how each of the items can be displayed and are calculated.

The Text Size for this study can be controlled through the Text Size Input with this study. Refer to Modifying Chart Studies. To control the particular Font Face, this can be changed through Global Settings >> Tool Settings >> Global Chart Drawing Font. After changing the Font Face, it is necessary to select Chart >> Recalculate for any chart containing the study for the new font to go into effect.

Open Profit/Loss Calculation

This is the Open position Profit or Loss. This calculation is based upon the last trade price for the symbol and the Position Average Price. For information about how the Position Average Price is calculated or obtained, refer to How Average Price for Positions Is Calculated and Used.

Closed Profit/Loss Calculation

Closed Profit/Loss is the cumulative profit/loss of completed trades, using a Fill to Fill matching method for the purpose of grouping fills into trades. This is based upon all of the fills for the symbol in the Trade >> Trade Activity Log.

Daily Profit/Loss Calculation

This is the cumulative profit/loss of completed trades that were opened in the current trading day, using a Fill to Fill matching method for grouping fills into Trades. This is based upon the order fills for the current trading day for the Symbol and Trade Account in the Trade >> Trade Activity Log.

This is considered a Daily Trade Statistic which resets daily. For complete details, refer to Understanding Daily Trade Statistics Reset Time.

Net Profit/Loss Calculation

The Net Profit/Loss is the Daily Profit/Loss plus the current position Open Profit/Loss.

If the Net Profit/Loss is incorrect, then you will need to clear all of the Trade Activity data for the Symbol and Trade Account in order to start from a clean state. To do this, refer to Clearing the Trade Activity Log.

Missing or inaccurate order fills can cause the order fill calculated Net Profit/Loss to be inaccurate. Refer to the Trade Activity Log documentation for instructions to view the order fills that you have for the symbol. You can control the number of days of data that is stored in the Trade Activity Log through Global Settings >> General Trade Settings >> Number of Days to Save in Trade Activity Log.

The Open Profit/Loss and Net Profit/Loss values can also be viewed on the Trade Stats for Charts tab of the Trade >> Trade Orders and Positions window.

Total Trades

This is the total number of completed trades, using a Fill to Fill matching method for the purpose of grouping trades. This is based upon all of the fills for the symbol in the Trade >> Trade Activity Log.

Total Quantity Filled

This is the total quantity filled for completed trades, using a Fill to Fill matching method for the purpose of grouping trades. This is based upon all of the fills for the Symbol and Trade Account in the Trade >> Trade Activity Log.

Daily Total Trades

This is the total number of completed trades for the current trading day, using a Fill to Fill order fill grouping method to create trades. This is based upon the order fills for the current trading day for the Symbol and Trade Account in the Trade >> Trade Activity Log.

This is considered a Daily Trade Statistic which resets daily. For complete details, refer to Understanding Daily Trade Statistics Reset Time.

Daily Total Quantity Filled

This is the total quantity filled for completed trades for the current trading day. This is based upon the fills for the current trading day for the Symbol and Trade Account in the Trade >> Trade Activity Log.

This is considered a Daily Trade Statistic which resets daily. For complete details, refer to Understanding Daily Trade Statistics Reset Time.

Trade Data Study Does Not Display Data or is Misaligned

When using one of the Trade Data studies that begins with Trading: like Trading: Total Trades or Trading: Closed Profit/Loss, and there is not the trading data displayed for the corresponding chart bars when there are trades at those bars, prior trade data is not included, the data is misaligned, or the trading data is delayed before it is displayed, then this can be due to the following reasons:

  • The order fills do not exist in the Trade >> Trade Activity Log >> Trade Activity tab for the particular Symbol and Trade Account the chart is set to. For instructions to use the Trade Activity Log to see the data, refer to Viewing Historical Trade Activity.
  • The studies are built from order fills and it is essential to understand how order fills are grouped and matched together. For further details, refer to Order Fill Matching and Flat to Flat Definition and Open Quantity Field Calculation Method.
  • To actually see the individual Trades which consist of an opening fill and a closing fill which are used in the Trade Data studies, follow the instructions for the Trades tab in the Trade Activity Log.

    Make sure you set the Date Range to Display >> From Date and Time to the very same Date and Time you see in the Order Fills Start Date-Time field for the chart in the Trade Stats for Charts tab, so you get an exact match of the Trades data used in the chart which are used in these Trade Data studies. This gives you a very good understanding of the data that goes into these studies and to troubleshoot any problems with them.
  • The Trade Account is not set correctly on the Trade Window for the chart.
  • Your computer's Date or Time is not set correctly which will cause Trade Data to be misaligned to the chart bars, be delayed before it is displayed, or filtered out completely.

    Refer to help topic 38 for help with setting your computers Date and Time. Once your computer's Date and Time is corrected, this will not solve the inaccurate timestamps on existing order fills. Those fills will still be wrong and require editing of the Date-Time of them.
  • If you are using a Trade Data study on a Historical Daily, Weekly, Monthly, Quarterly, or Yearly chart, then the alignment of data may not be correct with these chart types. The Trade Data studies are not recommended to be used with these types of charts. Only Intraday charts.

How Average Price for Positions Is Calculated and Used

In the Trade Window for a chart or Trade DOM, the Trade Position Average Price is displayed on the Main and C tabs after the current Trade Position Quantity (refer to image below).

Additionally, the Trade Position Average Price is displayed on the chart or Trade DOM on the Position Line which is displayed at the level of the Average Price.

By default, the Average Price for the current open Trade Position is calculated from the order fills stored in the Trade >> Trade Activity Log for the particular Symbol and Trade Account the Position Average price is for. It is the average price of those fills which make up the current Trade Position.

The chart must be set to load the order fills which are part of the current Trade Position. This is absolutely essential to understand for the calculation to be correct. Refer to the Order Fills Start Date-Time setting to control this.

However, there can still be cases where the Trade Position Average Price is not correct as determined from the order fills because of missing or inaccurate order fills. However, in newer versions of Sierra Chart, the possibility of this is greatly reduced due to the fact that a reverse iteration is used to determine those order fills that make up the current Position.

In the case though where the Trade Position Average Price cannot be determined, either there is an incorrect Trade Position Average Price displayed, or if Sierra Chart knows it cannot calculate it, then the Trade Service Provided Average Price is displayed instead which comes from Trade >> Trade Orders and Positions Window >> Positions >> Trade Service Average Price for the Symbol and Trade Account.

The Trade Service Provided Average Price is only for non-simulated Trade Positions. For more information, refer to Trade Service Provided Average Price.

The Average Price for simulated Trade Positions can always be accurately determined.

In order for Sierra Chart to be able to properly calculate the Average Price from the order fills, you need to be certain Sierra Chart is set to store order fills for a long enough period of time. This period of time will have to be long enough to include the earliest fill which is part of any current Trade Position that you have.

Select Global Settings >> General Trade Settings. Set the appropriate Number of Days to Save in Trade Activity Log to a high enough number of days which will include all of the fills for any current Trade Position you have.

There are several Average Price calculation methods for the current Trade Position for a Symbol and Trade Account which can be used in a Chart or a Trading DOM, that you can use.

One of these can be chosen through Chart >> Chart Settings >> Advanced Settings 3 >> Open Position Average Price. They are as follows.

  • Use Last In First Out Fill Matching for Open Position Average Price
  • Use First In First Out Fill Matching for Open Position Average Price
  • Use Flat to Flat Open Position Average Price
  • Use Last In First Out Fill Matching for Open Position Average Price and For Daily Profit/Loss (less reliable)
  • Use External Service Open Position Average Price

The first four calculations use the order fills that Sierra Chart has which make up the current Trade Position. Each chart that is used for trading maintains its own Trades list which is used for various Trade Profit/Loss, Trade Statistics and Trade Position Average Price calculations. The Trade Position Average Price calculations are performed within this Trades list.

The first three calculation methods use a reliable reverse iteration of the order fills for the calculation.

Each of the calculation methods is documented below.

Use Last In First Out Fill Matching for Open Position Average Price

This Trade Position Average Price calculation method calculates the average position price for the order fills that make up the current Position by using a last in first out order fill matching method. The order fills are determined by a reliable reverse iteration.

This method cannot work if there are any missing order fills which make up the current Trade Position.

Use First In First Out Fill Matching for Open Position Average Price

This Trade Position Average Price calculation method calculates the average position price for the order fills that make up the current Position by using a first in first out order fill matching method. The order fills are determined by a reliable reverse iteration.

This method cannot work if there are any missing order fills which make up the current Trade Position.

Use Flat to Flat Open Position Average Price

It is supported to use an Average Price based within a chart using a Flat to Flat calculation method.

In the case of a Long position, the flat to flat average price is the order quantity weighted average of the Buy order fills. In the case of a Short position the flat to flat average price is the quantity weighted average of the Sell order fills.

The order fills used in the calculation are determined by a reliable reverse iteration.

The Flat to Flat Average Price changes as new entry order fills are made. Exit order fills have no effect until the Trade Position goes to 0. Unlike the other average price calculations, this is not just an average of the remaining open fills which make up the current Trade Position.

Use Last In First Out Fill Matching for Open Position Average Price and For Daily Profit/Loss (less reliable)

This Trade Position Average Price calculation method is the same as Use Last In First Out Fill Matching for Open Position Average Price, except it uses a less reliable calculation method because it relies upon an accurate Open Position Quantity calculation.

For further details, refer to Open Quantity Field Calculation Method. Therefore, when using this method you have to ensure the Order Fills Start Date-Time in the chart is correct. The Open Quantity Field Calculation Method documentation explains how to do this.

The Daily Profit/Loss displayed on the Trade Window and also at the top left of the chart when in Chart Trade Mode also uses a Last In First Out order fill matching method when using this particular option.

This calculation method is not recommended to be used.

Order Fill Calculated Average Price from Order Fill Calculated Position

If a Chart or Trade DOM is using the Order Fill Calculated Position, then the Trade Position Average Price will always be calculated from the order fills which make up the current Open Position.

In this particular case, you can use any of the Open Position Average Price calculation methods as described in the >How Average Price for Positions Is Calculated and Used section, except for the >External Service Open Position Average Price.

To disable the use of the Order Fill Calculated Position for a Chart or Trade DOM, make sure Trade >> Use Fill Calculated Positions-Global is disabled/unchecked.

Also Open the Trade Window for the Chart or Trade DOM and make sure Menu/M >> Use Order Fill Calculated Position is disabled/unchecked.

Trade Service Provided Average Price

When Chart >> Chart Settings >> Advanced Settings 3 >> Open Position Average Price is set to Use External Service Open Position Average Price then the Trade Position Average Price within the chart will use the external service provided value.

This is only used for non-simulated trading. In the case of simulated trading, this Open Position Average Price setting is ignored and instead the first in first out order fill calculated weighted average price calculation is used instead.

The External Service Open Position Average Pricecan be viewed on the Trade >> Trade Orders and Positions >> Positions tab. The field is labeled Trade Service Average Price and is the trading service provided Average Price for a non-simulated Trade Position for a Symbol and Trade Account.

The Trade Service Position Average Price could be 0 for the Symbol and Trade Account if the Trading service does not provide Position Average Price data for the current Trade Positions.

In this case if the chart is set to use the Use External Service Open Position Average Price, then you will not see a Trade Position line on the Chart or Trade DOM since there is no Position Average Price.

The Trade Service Position Average Price will be used on a Trade Window and chart if the Trade Position Average Price cannot be determined from the order fills when the Open Position Average Price is set to a setting other than Use External Service Open Position Average Price.

If the External Service Open Position Average Price is being used, you will see the letter E after the Average Price. Refer to the image below.

Position Line Not Visible or Incorrect Average Price

If for whatever reason, the Position Average Price is not correct, then when you are looking at a chart which is in Chart Trade Mode, or a Trade DOM, the current Position Line may not be visible within the current view of prices. And the Trade Position Average Price display will be incorrect.

Or if the Trading service you are using does not provide a Position Average Price and Sierra Chart does not have the order fill data for the Symbol and Trade Account to calculate it properly, then you will not see a Trade Position Line. However, the current Trade Position Quantity will be displayed on the Trade Window.

Open Profit/Loss Calculation

The Open Profit/Loss displayed on the Trade window after P/L: and also displayed on the Position Line on a chart or a Trade DOM, is calculated as follows when it is displayed as Points (P): OpenProfitLoss = (LastTradePrice - PositionAveragePrice) * PositionQuantity.

PositionQuantity will be a positive number in the case of a Long position and will be negative number in the case of a Short position.

Refer to the How Average Price for Positions Is Calculated and Used section for details on how the AveragePositionPrice value is determined.

You need to understand that there is a small amount of calculation error due to floating-point calculations performed on computers that can exist, and also a slight variation with the AveragePositionPrice could exist when this value is provided by a Trading service, which you may not be able to see due to display rounding.

Therefore, the final Profit/Loss result could be slightly off especially when displayed as a Currency Value.

Determining Whether Order Fill Calculated or Trade Service Average Price is Being Used

How do you determine whether the Trade Service Provided Position Average Price is being used on the Trade Window for a Chart or a Trade DOM instead of the Sierra Chart calculated Position Average Price based on the order fills?

If the Position Average Price you see on the Trade Window for a Chart or Trade DOM has the letter E after it, then this is the Trade Service provided Position Average Price. Otherwise, it is the Order Fill calculated Position Average Price. Refer to the image below for an example of this indicator.

Incorrectly Reported Trade Position Quantity

If you see an incorrectly reported non-simulated Trade Position Quantity in Sierra Chart, then follow these instructions:

  1. Make sure Trade >> Use Fill Calculated Positions-Global is disabled/unchecked.
  2. Make sure Trade >> Trade Simulation Mode is disabled/unchecked.
  3. If you see an incorrectly reported Trade Position Quantity on a chart, Trade DOM, or on the Trade Window for a chart or Trade DOM, then open the Trade Window and make sure Menu/M >> Use Order Fill Calculated Position is disabled/unchecked.

    Relating to this, make sure the correct Trade Account is selected on the Trade Window for the chart or Trade DOM, refer to Selecting Trade Account.

    Relating to this, if the Trade Position Quantity is correct but you do not see the Trade Position line displayed on a chart, then Position Average Price is not correct. In this case, refer to How Average Price for Positions Is Calculated and Used.
  4. Go to the Trade >> Trade Orders and Positions >> Positions tab.

    Locate the Trade Position for the Trade Account and Symbol on the Positions tab. This tab reports the non-simulated Trade Positions as provided by your external Trading service. You must find a match by comparing both the Trade Account and Symbol.

    If there is an incorrectly reported Trade Position Quantity on this tab for a particular Trade Account and Symbol, then you will need to contact your Trading service about the Trade Service Position Quantity that you see on the Positions tab.

    If the Trade Position for the Trade Account and Symbol is not listed at all, this means the Trading service is not reporting the Trade Position for the Trade Account and Symbol.

    To ensure you have the most up-to-date data on the Positions tab, select File >> Disconnect and File >> Connect to Data Feed. However, reconnecting to the server is almost never necessary to update the data on the Positions tab and is not likely to change the Positions data reported, since it is automatically updated.
  5. If you see the correct Trade Position Quantity for the Trade Account and Symbol on the Positions tab but the Symbol does not exactly match the chart or Trade DOM, then this can be a reason why you do not see the Trade Position on the chart or Trade DOM. In the case of Interactive Brokers, only a portion of the leftmost components of the complete symbol need to match.
  6. If you see an incorrectly reported Open Quantity on the Trade >> Trade Activity Log >> Trade Stats for Charts tab, then this is not unusual and is common. You will need to adjust the Order Fills Start Date-Time in the chart the Trade Statistics line is for.

    For complete details and instructions, refer to the Solving Inaccurate Trade Statistics for Charts Field Values subsection.

Resetting Incorrect Order Fill Calculated Position

When using the Order Fill Calculated Trade Position either globally or for an individual chart or Trade DOM, this Trade Position data could be inaccurate.

To reset this data back to 0 for a particular Symbol and Trade Account, requires clearing all of the Trade Activity data for the Symbol and Trade Account, or setting a start Date-Time for this order fill data loaded into a chart or Trade DOM.

To set a starting Date-Time for the order fills loaded into a chart, refer to Order Fills Start Date-Time.

To clear the Trade Activity data and order fills for an individual Symbol and Trade Account to reset it back to to 0, refer to Clearing Trade Activity.


*Last modified Monday, 26th November, 2018.