Date/Time: Wed, 25 May 2022 04:08:22 +0000
Post From: Trade Window Flatten - position not exited
|T44 - Posts: 357|
I have position limits set at my FCM. I was long N lots with a max position size of N lots. I have Sierra auto bracket my trades, so there was a working sell stop N lots below the market and a working sell N limit above the market.
I use the "flatten" button to trade out and receive the following error from the TTFIX adapter (where N is position limit) :
Trade Order Error - TT order update (Rejected). Info: >From Gateway. WCNPP(2N) > MxNPP(N) P1
then symbol, internal order ID, date, time details.
What appears to be happening is that the TT Risk module calculated that my worst case position would be greater than my position limit and rejected the order. When I clicked "flatten" again a few seconds later, it got me flat without a problem.
I've had these risk settings in place since I started using Sierra chart, every trade has been placed for my max position size, every trade has been placed with bracket orders, and on trades not exited on stop or limit all exits have been done via the flatten position function.
My FCM has recommended that I cancel the orders manually before using the "flatten" function to avoid this problem happening again. I do not know, so can Sierra please tell me whether the "flatten" function cancells the working orders before or after sending the offsetting order to close out the position?
I'd appreciate some further information to learn whether this is something to do with how my FCM has configured X_Risk or their TTFIX adapter, a problem with TT, or a possible glitch in Sierra chart. Naturally I would like my order entry system to behave predictably.