Support Board
Support Board
Search Board
Control Panel
View My Posts / Threads
Direct MessagesDate/Time: Sat, 27 Apr 2024 07:58:26 +0000
Post From: Flatten and Cancel only canceled
| [2019-04-25 21:41:48] |
| patrader - Posts: 92 |
|
I checked my activity log to gain more insight because at the time I hit flatten and cancel the price action wasn't anywhere near my profit or stop. I have a MaxClipSize limit on FGBL of 10 contracts. I was short my maximum (10) with a profit target of 10 contracts and a stop-loss of 10 contracts (server-side OCO with CQG; using native stop and limit orders on the exchange). When I hit flatten and cancel the profit/stop OCO was canceled but I was left still short 10. You are correct in that that the market order was rejected. I got this message: "CQG order update (Rejected). Text: Commodity US.DB position limit is 10, worst case position is 20". CQG's risk management system self-evidently considered the possibly of me being left flat with a 10 lot OCO as being a risk of having 20 contracts. I'm thinking about possible workarounds. It seems that enabling the option proposed would cancel the OCO first and this would work. But there's a built-in delay with that. I suppose another option would be to use locally held simulated stop/profit orders. Regardless, I thought I'd mention this to the extent Sierra wanted to have this issue explained in its help system. Flatten and cancel (when not checking the option suggested) runs the risk of rejected market orders for exceeding a trader's MaxClipSize when the OCO uses exchange-held orders. A trader who chooses not to enable the proposed option needs to know to stay <=50% of MaxClipSize. I have this confirmed by trying an entry order OCO that was 50%+1 contract of my MaxClipSize. It was rejected. That's how CQG does it. How about other technology providers? Like TT with Sierra's new order routing service?
Date Time Of Last Edit: 2019-04-26 01:38:09
|