Support Board
Support Board
Search Board
Control Panel
View My Posts / Threads
Direct MessagesDate/Time: Thu, 02 May 2024 23:08:02 +0000
LMAX Stop Order Triggering
View Count: 644
| [2016-07-12 05:54:30] |
| Pinger - Posts: 33 |
|
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. |
| [2016-07-12 05:59:12] |
| |
|
Yes, this is deliberate and what has been requested by other users. It cannot be changed.
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 |
| [2016-07-12 06:04:58] |
| Pinger - Posts: 33 |
|
Thanks for your immediate reply, much appreciated. SierraChart support is unrivalled! Understood, I will need to rethink my strategies regarding Stop Orders. Cheers |
| [2016-07-12 06:07:11] |
| |
|
It cannot be changed because LMAX does not allow individual users to use different Stop order settings because there is a common order routing connection being used.
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 |
| [2016-07-12 06:16:31] |
| Pinger - Posts: 33 |
|
Ah! So if I went down the route of my own FIX connection to LMAX (which I don't want to do at the moment because of price) this could be changed within a SierraChart setting?
|
| [2016-07-12 06:28:55] |
| |
|
Yes it can be changed but it is an account setting on your LMAX Account Control Panel.
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: 2016-07-12 06:29:25
|
To post a message in this thread, you need to log in with your Sierra Chart account: