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Direct MessagesDate/Time: Sun, 19 May 2024 09:22:31 +0000
OCO Orders With IB
View Count: 1150
| [2015-04-07 08:27:34] |
| JRA - Posts: 97 |
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Hi, I am trying first time Sierra Charts and I have fallen in love with it. I have a question though. I searched on manual and it states that the bracket orders are send to IB after the parent order gets filled, which is the way I have learned to trade. However when I submit the order they are getting sent to TWS before the parent order gets filled. I know a lot of people like it that way, but I don't. Is there any setting I can change so as the OCO is send to IB the moment the parent order gets filled? Thanks Ioannis |
| [2015-04-07 14:54:17] |
| JRA - Posts: 97 |
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I switched to my paper account and open some orders on ES. I wanted to see if the parent order doesn't get filled but instead price reverse and hit my oco group of order first if it will trigger that order. And it didn't. But before doing it on my real account can a technician confirm this? I was under the assumption that if the oco group of orders are active on TWS and price does not trigger the parent, then the stop of the oco group would be triggered as a market order. Awaiting your confirmation, Thanks Ioannis |
| [2015-04-07 17:38:01] |
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No, this most definitely will never be the case: I was under the assumption that if the oco group of orders are active on TWS and price does not trigger the parent, then the stop of the oco group would be triggered as a market order.
However, this is controlled by Interactive Brokers. You can disable server-side bracket orders through Global Settings >> General Trade Settings >> Use Server-Side OCO and Bracket Orders. 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 |
| [2015-04-07 23:58:04] |
| i960 - Posts: 360 |
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I know a lot of people like it that way, but I don't.
I cannot imagine why you would *not* like it this way. It's way safer than a naked order sitting out there that will not be protected if client connectivity goes away. Doing it server side means IB is doing pretty much the exact same thing SC would be doing - but from their servers. Also, an OCO bracket is basically a sequenced order of parent -> OCO. There's no way the OCO children will do anything until the parent fills (which triggers the OCO group into existence). |
| [2015-04-08 05:27:39] |
| JRA - Posts: 97 |
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I cannot imagine why you would *not* like it this way. It's way safer than a naked order sitting out there that will not be protected if client connectivity goes away. Doing it server side means IB is doing pretty much the exact same thing SC would be doing - but from their servers.
Also, an OCO bracket is basically a sequenced order of parent -> OCO. There's no way the OCO children will do anything until the parent fills (which triggers the OCO group into existence). Yes you are absolutely right. Because I come from another platform, I was wrongly under the assumption that the oco might get triggered if price didn't fill the parent. Right now I love Sierra Charts even more. |
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