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Where does a Triggered Limit Entry Order reside?

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[2018-01-17 16:35:02] #1 [Go To First Post]
patrader - Posts: 92
I am interested in using the Advanced and Lower-Cost Connection to CTS 4 for trade execution and Sierra Chart for datafeed. My understand is that bracket/OCO orders stay on Sierra Charts server before being sent to the CTS 4 server. Suppose the ES is trading at 2788.00 and I want to buy if it goes higher to 2790.00, but I want to try and get filled at 2789.75. My understanding is that I can use the "Triggered Limit Entry Order" study in Sierra Chart to do this. If I use Triggered Limit Entry Order in SierraChart with the Advanced and Lower-Cost Connection to CTS 4, where would this "order" reside until the trigger price was reached? Would it reside on Sierra Chart's order entry server or would it reside locally on my PC?

[2018-01-17 21:07:58] #2 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
For an order type like this, it will always reside locally on your computer. 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

[2018-01-18 23:15:04] #3 [Go To First Post]
patrader - Posts: 92
When the limit order is triggered (using the Advanced and Lower-Cost Connection to CTS 4) is it sent to the Sierra Chart server first or directly to the CTS server?

[2018-01-19 01:20:34] #4 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
It goes to the Sierra Chart server and then immediately to CTS and then to the exchange. So at that time it becomes an exchange held order. 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

[2018-01-19 03:13:16] #5 [Go To First Post]
patrader - Posts: 92
If the triggered limit order is a parent order to an OCO, my understanding is the the OCO is held on Sierra Charts servers (using the Advanced and Lower-Cost Connection to CTS 4). Suppose the stop-loss part of the OCO is an automated trailing stop loss. I presume that the automated part of the trailing stop-loss is held on my PC ...is that right? And it'll be the stop-loss on Sierra Chart servers that gets changed by the automated signal it receives from my PC?

[2018-01-19 07:00:11] #6 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
If the triggered limit order is a parent order to an OCO, my understanding is the the OCO is held on Sierra Charts servers Yes this is the case. Suppose the stop-loss part of the OCO is an automated trailing stop loss. I presume that the automated part of the trailing stop-loss is held on my PC ...is that right? Yes this is the case. And it'll be the stop-loss on Sierra Chart servers that gets changed by the automated signal it receives from my PC? Yes this is how it works. 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

[2018-01-22 16:11:37] #7 [Go To First Post]
patrader - Posts: 92
I've added to the triggered limit order entry to a Trading DOM. I've tried using it two different ways. First, automatically setting the buy/sell order to be one tick below/above the trigger price. Then secondarily setting the buy/sell order manually. I'm running into the same problem - the order gets executed immediately even though the trigger price is fairly far away from the market. I am in simulated mode. Could that be the issue? I don't want to try it live until confident it works as expected.

[2018-01-22 20:18:07] #8 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
You must be misunderstanding that order entry study. Here is the documentation for it: Order Types: Triggered Limit Order Entry Study 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: 2018-01-22 20:18:18

[2018-01-22 21:02:22] #9 [Go To First Post]
patrader - Posts: 92
I'm pretty sure I understand it. I added the study onto a Trading DOM. For Settings I chose: (text settings irrelevant to problem), Number of Bars Back to Display: 20 [not sure what this does], Auto Set Limit Price: Yes, Limit Price Offset in Ticks: 1. I then right clicked to the left of the Buy column several ticks above the market. My expectation was to set the Trigger price such that when touched a buy limit order is sent 1 tick below the Trigger price. What happens is this ...I see the trigger price displayed for a fleeting second. But a buy limit order is immediately sent at a price higher than the last. So I end up long immediately. The study isn't working as expected on the Trading DOM. It isn't waiting for the Trigger. It is sending a buy limit order as soon as I set the Trigger price.

[2018-01-22 22:30:46] #10 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We are looking this over. 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

[2018-01-24 18:30:53] #11 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We apologize for the delay for this. We were not able to reproduce any problem with this order entry study. It does work as documented. The only potential issue that is extremely unlikely would have to do with processing old trade data and triggering off of that so we added some additional reset statements in the code. Update to the latest Prerelease following these instructions: Software Download: Fast Update If there still is a problem, try using this order entry study from a chart instead of the Trading DOM. Although we would not expect that to make any difference. The other thing is we are going to make this a built-in order type, which will use the same type of management as with trailing stop orders. We expect this will be completed within two weeks. 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

[2018-01-24 23:28:18] #12 [Go To First Post]
patrader - Posts: 92
It's really odd. I'd never rule out user error but I am 99.99% certain I am not in error. In the ES whenever I place a buy trigger above the market - several ticks away - it gets filled as if its a buy limit at that higher price (akin to buy market order). And when I place the study at a price several ticks below the market it sits there just fine but then when the price touches the lower trigger it doesn't fire off the limit order. On the long side I am getting immediate fills and on the short side it doesn't work. Updated to pre-release and rebooted to no effect. I could make a screen video showing me not to be in user error ...

[2018-01-25 04:22:10] #13 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Let's wait until we have this as a built-in order type. We will try to get it done by the end of the day tomorrow. Although this is the first time we have heard of anyone with an issue. We are sure it is an actively used order entry study. 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: 2018-01-25 04:23:44

[2018-01-25 13:32:56] #14 [Go To First Post]
patrader - Posts: 92
Cool thanks. I'm new to SC (moving over from NT). Super great program. My one hold over from NT is this study/order type. In NT it is called STL offset but its the same thing. What would be extra great at SC would be to have it selectable as template option per symbol. Maybe a check box to choose "STL Offset" instead of plain vanilla STL when placing an entry order on the DOM or chart. If not many other traders are using this type of 'order' no sweat I can live with it as is. But it seems as if the functionality already exists.

[2018-01-28 19:44:04] #15 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
This order type has now been added as a built-in type. We just need to finalize a couple of details and do some testing and it will be out before Monday morning. We will see about your suggestions. 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: 2018-01-28 19:45:06

[2018-01-30 08:13:03] #16 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Version 1694 with the built-in Triggered Limit order type is now available. This is the "Prerelease": Software Download: Fast Update Test it and let us know how it works. Make sure to use it only in Trade Simulation Mode until you know it works properly for you. You can use this order type directly from the Trade Window or from the chart by adding the related commands for it through Global Settings >> Customize Chart Trade Menu. We will also add support for it on the Chart DOM. 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: 2018-01-30 08:14:36

[2018-01-30 14:46:57] #17 [Go To First Post]
patrader - Posts: 92
I tried installing prerelease 1694 a couple of times but after install Help/About says the version is sill 1693.

[2018-01-30 18:20:16] #18 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We apologize for this. 1694 is now released. 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

[2018-01-31 00:07:01] #19 [Go To First Post]
patrader - Posts: 92
Thanks. Am I correct in thinking that "Buy Triggered Limit (Auto-Set)" is to be placed above the market and "Sell Triggered Limit (Auto-Set)" is to be placed below the market? And is auto-set the negative offset value in ticks? If so, where do I go to set or change the auto-set value?

[2018-01-31 00:56:34] #20 [Go To First Post]
patrader - Posts: 92
At the risk answering my own questions (having played with it in SIM mode) I think the answers are a) yes, b) yes, and c) in the Trade Window's "Set" tab for Stop-Limit Order Limit Offset (using a positive number for ticks). A few things noted: 1. It seems to have been codified in Auto-Set such that the price you click is the limit price not the trigger price. I posit this is counter-intuitive. Suppose the ES is trading 2826.00. You want to buy if the market trades higher to 2828.00 using an offset value of 3 ticks. You'd have to mentally think about your trigger price and then count backwards to actually place your order at 2827.25. The bigger the offset the greater the mental effort to know where to place the order. By contrast, if you know your offset is always 3 ticks and the price you click is the trigger price you don't have to perform such mental calculations. It also confuses a trader to mentally place an order at 2827.25 when in fact the "event" that triggers the order doesn't occur until 2828.00. I propose changing it such that price you click is the Trigger price would be more intuitive. Let SC do the calculation backwards for where the limit order would be. 2. By placing the Auto-Set value in the "Set" tab for Stop-Limit Order Limit Offset this means that any plain vanilla Stop-Limit Order is going to be affected by a change in that value. If the trader wanted to use the Triggered Limit Order for one trade and a plain vanilla stop-limit order (with 0 ticks offset) on the next trade, the trader would have to remember to go into the setting and change the value. It would optimal to separate the two different offset values under different tabs for the different types of orders. Traders are creature of habit. I use 0 ticks offset for plain vanilla stop-limits and 1 tick (negative) offset for Triggered Limit Orders. When pushing a button for either type of order it'd be good to know that the correct offset will be used without thinking "do I need to go change the value before I send the order?" 3. Using drag and drop to change the price seems to have a strange outcome. The two components (trigger and limit) get merged into one price. Makes it hard to understand what is happening. 4. When the 'wrong' type of order is placed on the wrong side of the market - lets say a Sell Triggered Limit is placed above the market, it will result in a plain limit sell being placed. Arguably the trader's fault for being silly but perhaps a message saying "triggered limit sell can only be placed below the last price" or similar would keep a few people from errors. Thanks for working on this!

[2018-01-31 01:21:10] #21 [Go To First Post]
patrader - Posts: 92
Re: suggestion #2, actually to keep it cleaner, rather than a separate tab ...perhaps have a second option box under the 'Set' tab. The first section being for "Stop-Limit Order Limit Offset" (exchange held orders) but then a second section underneath for "Triggered Limit Entry Order Offset" (locally held orders). Two different values for two different types of orders. I find Triggered limit entry order to be a real money saver in day to day trading. If wanting to be long as the market breaks higher it's like being the first bidder at one tick underneath the breakout price. You are as fast a bidder as the latency of your connection. You might miss the occasional trade when the market breaks and never looks back but a lot of the time you'll get the extra tick with this type of automated option. Having two choices would also put SC over NT in this area. They have one option for stop-limit. You simply change the offset value to -[whatever] instead of 0 or +[whatever] and it'll be a locally held order as compared to an exchange order. The ability to have both options at your fingertips would be ideal.

[2018-02-01 10:34:14] #22 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
1. Done. 2. This is being worked on. 3. We do not see why there would be any problem with this and unable to reproduce. We need more details about how to reproduce this. But make sure you are on the latest prerelease 1696, first. 4. We will have to see about this. 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: 2018-02-01 10:34:30

[2018-02-01 13:38:08] #23 [Go To First Post]
patrader - Posts: 92
Comments for Triggered Limit (Auto-Set), version 1696: - #1 Clicking on the price now sets it as the Trigger ...thank you! - Once #2 is done and all kinks ironed out you might want to get rid of the Triggered Limit Order "Study" to keep SC clean and logical. It is more logically an order entry than a study. Explaining to newer users that this order resides on their local PC until the Trigger price is reached. - Once #2 is done, you might want to consider removing "Triggered Limit" (where the Trader manually sets the offset) and only have "Triggered Limit (Auto Set)" be an option; just to maintain SC's reputation for clean and logical options. Armed with the ability to customize the triggered limit offset value per symbol, how many traders are really going to use the manual option on each trade? (it's extra clicking in fast markets). Or they did want to change an offset value from one trade to the next, they could still so, albeit in a coming new settings tab. - Re: the unusual behavior I'm seeing when trying to change the price of the Trigger/Offset combo. Example: Suppose I set my offset value at 1 in the ES and suppose I have attached orders checked. I place a Buy Triggered Limit (Auto Set) above the market with attached OCO child orders. The new Trigger/Offset combo seems to work fine. Then I grab the Trigger price to move it to a higher price. When I let go of the mouse to change the price, both the limit order and the child orders disappear from view (canceled?). The only thing left is a single Trigger price line. [Actually I just noticed that the offset value seems to be stuck at 4 ticks and is being unresponsive to changes in it]

[2018-02-01 18:12:47] #24 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
2. This already done. Update Sierra Chart to the latest prerelease again. The version number is the same. - Re: the unusual behavior I'm seeing when trying to change the price of the Trigger/Offset combo. Example: Suppose I set my offset value at 1 in the ES and suppose I have attached orders checked. I place a Buy Triggered Limit (Auto Set) above the market with attached OCO child orders. The new Trigger/Offset combo seems to work fine. Then I grab the Trigger price to move it to a higher price. When I let go of the mouse to change the price, both the limit order and the child orders disappear from view (canceled?). The only thing left is a single Trigger price line. Makes no sense. We cannot even reproduce this it makes no sense why that would even happen. We would need to do a remote assistance session to see this. 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

[2018-02-01 18:28:09] #25 [Go To First Post]
patrader - Posts: 92
Nice change to #2 - thanks! be glad to facilitate remote assistance. How/when to do so?

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