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Direct MessagesDate/Time: Thu, 09 May 2024 13:32:58 +0000
Post From: Move to Breakeven Stop Issue
| [2016-10-12 03:42:39] |
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We apologize for the delay with this, we have been quite busy and we needed some further time to consider this. Here is the situation: We were mistaken, with the initial analysis as to the cause of the problem. These are the potential causes of an issue like this: -Lagging market data relative to the order fill. It is impossible to determine the extent of the lag but there is always some element of lag that does exist. - The fact that you are using Interactive Brokers true real-time data which does lag by 5 seconds. This is a data feed which users use because of the substandard Interactive Brokers data feed. This data is used for trailing stops and simulated orders because our users expect this. This can and will cause a problem like this and definitively was the cause of the issue here, but there is no way that we could of contemplated this ahead of time. It is unreasonable to think that we can consider and document everything. - The fact that Sierra Chart uses data between chart updates for trailing stops and simulated orders after an order has been submitted and if the order is active. This is something that we changed in response to this and thought this was a cause, but we realized that the problems described above are the actual causes and this is simply just not relevant. We also realized the change we made is not necessarily correct because an order will fill some time between chart updates and it is reasonable to use the data since the last chart update to modify a trailing stop. So it is possible we may even change back what we previously changed. Also with the low 40 millisecond update interval you are using, the significance of this as being a cause is extremely minimal. And there is evidence of this in the Trade Activity Log. One thing we did change, is that true real-time data will no longer have any effect on trailing stops and simulated orders. This itself is going to be a negative consequence and some users are certainly going to raise issues with this in the future and ask why it is that a trailing stop did not move when it should have been and why a simulated order did not fill when it should have. Sierra Chart is very reliable and high quality software as is clearly evidenced by our users experiences and the fact that we promptly take care of any issues that arise that are within our control. Just like we did here. The basic cause of this problem is simply the circumstances and very fast-moving markets and lagging data. None of which we have any control over and the changes that have been made would not have avoided it anyway and would it still have happened. There is no way that we can prevent something like this from happening but there are things we can do to minimize it but the more we do to minimize it, it then creates a problem where some price action is ignored. It also is not reliable to use timestamps as a safeguard for this kind of potential issues because IB does not have a trustworthy highly accurate timestamp in our experience for order fills, which is in sync with market data which contains no timestamps. This is also especially a problem by the fact that your computer clock was off by 16 seconds which is indisputable. There is no way that any program built to work with Trader Workstation can handle move to break even stops perfectly. This can only be done on the backend using timestamps from the exchange itself. Apparently we were mistaken when we said Interactive Brokers does not have move to breakeven stops. We thought they did not, and before we made that statement, we checked the TWS documentation and there was no mention of them. So apparently these are undocumented. We apologize for adding a time credit to your account. It has been removed. With the low prices of Sierra Chart, and with the support cost you have put on us over time, and the way that we have been treated by you it was completely inappropriate for us to be adding a credit. The basis of the credit was the fact that something was brought to our attention, that we normally would not have been aware of and something that we thought at the time was of significance and should be changed. Our review of that has changed though. It is totally and completely inappropriate to be requesting payment for consequential damages. Besides Sierra Chart has done nothing wrong here. Sierra Chart is very high quality and reliable software. It is silly to think with the low prices of Sierra Chart and based upon the well-established law of contracts that we will be paying for consequential damages. Under contract law, consequential damages simply are not claimable. Any lawyer will tell you that. You need to understand we are not a broker and also as a general rule brokers will not compensate traders for losses when there are technical problems. There are certainly exceptions to this but in general this is simply not the case. This is a general statement not only applicable to Interactive Brokers but to all brokers. Now what can you do to prevent a problem like this: Certainly the changes that have been made will help minimize it. So update Sierra Chart to the current version. However, we cannot guarantee that it will not happen again. Although we would expect that it is unlikely to occur but cannot promise that. You also need to use the Sierra Chart Exchange Data Feed which is a low latency and complete data feed: Sierra Chart Exchange Data Feed If you do not even want to spend the money on this data feed, then this is your issue. ---- Furthermore, if you understand law you will know that we are not responsible for consequential damages and we should never get involved in that. You do not want to do anything which is going to increase the price of Sierra Chart or create unnecessary burdens on us. If you want to kick me out as a customer because I suffered from a Sierra Chart shortcoming and brought this up to your attention, then go ahead.
This statement makes no sense. We would never do such a thing we do not know why you are saying this. We gave the support request prompt attention and corrected what we thought was the problem, but that was not relevant to the issue after further analysis. Why we are being treated this way, we do not know. This statement reveals the true nature of who you are. You very often have been abusive towards us in words and have blamed for us for issues which are not even ours. Just like you are doing here. We acknowledge that there was a slight issue that potentially could have been a problem but it was not relevant to this case. What you are trying to do is tempt us to cut off your account so you can get even more angry at us and then complain to every other person out there to somehow make us look bad in your opinion. Why you are doing this, we do not know. It is very clear your following a strategy of bashing us and blaming us, when the root problem here is that is substandard Interactive Brokers data feed . Here is the relevant documentation we have prepared in relation to this issue: Order Types: Effect of Delayed Data on Trailing Stops We have also patched the issue described previously in post #5, although it did not contribute to the problem in this particular case. And another thing too, we have experience with the gold market ourselves. It is completely improper to blame us for any loss in the gold market and we will never accept that. The gold market is a known manipulated market which you should be very very well aware of. Stop orders are routinely touched off only for the market to reverse and go the opposite direction. Please do not blame us for this. I will contact your management about this event. You are already speaking to the top programmers and management here. There is no one else higher up. We are all involved in software development .
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: 2016-10-16 09:02:40
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