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Date/Time: Fri, 20 Jul 2018 23:46:06 +0000



[Locked] - Stop Order instead of Limit Order

Support Request:
[2017-11-29 17:07:16]
User466220 - Posts: 43
I put in a sell - Limit order and you guys route it as a STOP LOSS??????? You just caused me to drop all of my shares at a very unfavorable price!!!!
[2017-11-29 17:24:42]
Sierra Chart Engineering - Posts: 61936
This is something you have to be careful about. You probably have configured the determination of a Stop or Limit based upon the relationship to the last trade price, and also the bid and ask prices will be used as well. This actually might be the default configuration.

Really we are not in favor of determining whether a Stop or Limit order should be used based upon price but this is something that has been requested by brokers. We are going to remove that because generally it is not something we would regard as safe.

There was a recent change requested to involve the bid and ask prices because in the case of a market not actively traded, the bid and ask are going to be more up to date. So if the bid and ask are wrong, it is going to cause a problem.

Here is the documentation to change the settings:
https://www.sierrachart.com/index.php?page=doc/GlobalTradeSettings.html#ChartDOMSettings
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
Date Time Of Last Edit: 2017-11-29 17:25:43
[2017-11-29 17:31:16]
User466220 - Posts: 43
The hell I did. This is YOUR FUCKED UP SOFTWARE!
[2017-11-29 17:33:14]
Sierra Chart Engineering - Posts: 61936
We have explained the situation clearly. There is no problem with Sierra Chart. There apparently is a problem with the bid and ask data from Barchart our data provider which is creating the problem.

This is what we said:

You probably have configured the determination of a Stop or Limit based upon the relationship to the last trade price, and also the bid and ask prices will be used as well. This actually might be the default configuration.

Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2017-11-29 17:37:09]
User466220 - Posts: 43
You will pay for this.
[2017-11-29 17:46:45]
Sierra Chart Engineering - Posts: 61936
When determining whether the order should be a Stop or Limit order, assuming that is how you have the Chart DOM configured, the bid and ask average is used if they are above or below the last trade price, since these are most likely to be more current.

We are finding the thread where this was requested.


We understand the issue, but this is simply a manifestation of a problem with our data provider, and us being responsive and accommodating to requests from our user base.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
Date Time Of Last Edit: 2017-11-29 17:50:59
[2017-11-29 18:00:51]
User466220 - Posts: 43
I SET A SINGLE SELL TARGET. I DO THIS MANY TIMES A DAY. YOUR SYSTEM HAS NEVER TURNED IT INTO A STOP LOSS. SINCE THIS FEATURE IS NOT WORKING, I CAN"T EVEN TRADE BECAUSE THE BID/ASK IS STILL FROZEN TO PRICES FROM HOURS AGO. WHY DON"T YOU DO YOUR JOB AND FIX IT OR ELEVATE IT.
[2017-11-29 18:02:03]
User466220 - Posts: 43
i would send you a screen shot, but your system doesn't permit it.
[2017-11-29 18:11:01]
Sierra Chart Engineering - Posts: 61936
We are aware of the problem with bid and ask pricing and we recognize this is a totally unacceptable problem. Our data provider, Barchart in Chicago, has been made aware of it this morning and they are working on resolving it and we also recognize that this is a totally ridiculous problem that should not even be happening to begin with.

What we want you to do for now is to go to Global Settings >> Chart DOM settings. And set all of the Left Click operations to use Limit orders. Refer to:
https://www.sierrachart.com/index.php?page=doc/GlobalTradeSettings.html#ChartDOMSettings

We are going to change that to the default because that is what we agree with. We never really have liked the idea of invoking stop orders based upon where you click relative to the last trade price. This is inherently something which is not safe because there can always be faulty data or an issue where there is a market which is just not actively traded and a difference between the last trade price and the bid/ask prices.



i would send you a screen shot, but your system doesn't permit it.
This does not make sense. Here is the documentation for that:
https://www.sierrachart.com/index.php?page=PostingInformation.php#Image
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
Date Time Of Last Edit: 2017-11-30 07:24:47
[2017-11-29 18:16:59]
Sierra Chart Engineering - Posts: 61936
Another thing that has come to mind about this, in most cases, the Stop order would have been rejected by the trading service. But Interactive Brokers, which you are using, will have accepted it and filled it at the market.

This is not really relevant at this point, but it is a safety feature that exists with most trading services.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2017-11-30 07:05:31]
Sierra Chart Engineering - Posts: 61936
Refer to the information here about the problem:
https://www.sierrachart.com/SupportBoard.php?PostID=133702#P133702

This was a problem with the data feed that is not with our direct control.


Also based upon the things you have said in your email messages, you have the impression that somehow Sierra Chart is routing orders through our own server, has changed an order type from a limit to a stop, and that we can see your order activity. Or somehow something has gone wrong today and we mishandled your orders over "here". All of this is totally and completely false. We have no involvement whatsoever in the orders. They are handled on your computer.

The problem simply related to incorrect bid and ask pricing.

The Sierra Chart program running on your computer, is sending orders directly to Interactive Brokers Trader Workstation. We do not have access to any order activity at all.

And furthermore, the problem simply related to the bid and ask prices and the fact that Sierra Chart is set to use Stop orders on the Chart DOM when submitting a buy the order above the market or a sell order below the market. You need to change that:


What we want you to do is to go to Global Settings >> Chart DOM Settings. And set all of the Left Click operations to use Limit orders. Refer to:
https://www.sierrachart.com/index.php?page=doc/GlobalTradeSettings.html#ChartDOMSettings

This will solve the problem.

----
And once again, we have no idea what you are referring to in regards to this:

i would send you a screen shot, but your system doesn't permit it.
There are no such problems using this functionality here:
https://www.sierrachart.com/index.php?page=doc/Image_to_Server.html

No one is having a problem with this, and no problems like this have existed. Or we do not know what you are referring to.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
Date Time Of Last Edit: 2017-11-30 07:15:15
[2017-11-30 07:21:13]
Sierra Chart Engineering - Posts: 61936
See the attached screenshot for clarification of what we are referring to in Global Settings >> Chart DOM Settings.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
Date Time Of Last Edit: 2017-11-30 07:25:45
imageSafe Chart DOM Settings.png / V - Attached On 2017-11-30 07:21:04 UTC - Size: 27.24 KB - 70 views

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