Support Board
Date/Time: Sat, 10 May 2025 00:22:31 +0000
Post From: LMAX Stop Order Triggering
| [2016-07-12 05:54:30] |
| Pinger - Posts: 33 |
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Regarding the triggering of Stop Orders on the LMAX exchange... The SierraChart announcement stating that a Sell Stop Order will trigger when the Ask price reaches the Stop level, and a Buy Stop Order will trigger when the Bid price reaches the Stop Level, seems to be differ from the functionality of Stop orders placed directly on the LMAX exchange as stated in their Trading Manual (see the example in Section 3.3 of the LMAX Trading Manual, "www.lmax.com/pdf/Trading-Manual.pdf"). Their manual states that a Sell Stop Order will trigger when the Bid price reaches the Stop Level, and and Buy Stop Order when the Ask price reaches the Stop level. Is this SierraChart functionality deliberate? It differs from other trading platforms I have used. Also, with the SierraChart functionality as stated above, it is impossible to create an ACSIL study to enter the market at a specific level using a Stop Order (given that the subsequent market order is executed at the current market price) because the spread at the time the Stop order triggers is not known in advance. This is the reason for my query. Any clarification of this functionality would be much appreciated. |