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Reduce Only Order for Bitmex

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[2018-07-06 10:56:10] #1 [Go To First Post]
caviar - Posts: 7
Is it possible to send a Reduce Only order in Sierra, on a per order basis (not globally)?

[2018-07-06 11:08:04] #2 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Yes you just simply submit an order for a particular Symbol and Trade Account which reduces the quantity of an existing position. This is all. 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

[2018-07-06 11:11:07] #3 [Go To First Post]
caviar - Posts: 7
Yes, but in Bitmex, they have a "Reduce Only" order type, which can only reduce a position. We have had some issues with duplicate stops, and this type of order should prevent us in opening a new position in case of this. Is it possible to send via Sierra?

[2018-07-08 20:17:48] #4 [Go To First Post]
caviar - Posts: 7
Any updates on this?

[2018-07-09 23:16:23] #5 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
No updates. We really cannot help further. But do have a look at this documentation to see if you can accomplish what you want: https://www.sierrachart.com/index.php?page=doc/BitMEX_Trading.php#SettingOrderExecutionInstructions Anyway, we are working on our own high-performance exchange. 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: 2018-07-09 23:41:29

[2018-07-10 07:18:08] #6 [Go To First Post]
caviar - Posts: 7
I am not asking about your exchange, I am using Bitmex. I think I am asking a simple support question, which I can not find the answer to after having reviewed the docs - I need to send a "Reduce Only" type order, is it possible to do out of Sierra without changing global settings? Please tell me yes or no.

[2018-07-11 08:51:47] #7 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Well this should be specifiable through an execution instruction which you can set through the service settings as documented. We will check on that. 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: 2018-07-11 08:52:16

[2018-07-24 19:26:41] #8 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We are going to add a new service specific setting for BitMex to the next release which will allow you to specify a Stop Attached Order as a close only 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

[2018-07-25 19:02:16] #11 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Well we can certainly add an option to support reduce only or a close order for a Target Attached Order. Would that work for you? 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

[2018-07-26 18:42:23] #13 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
This is too long and involved for us to review or get involved with. We will add the option we previously described. 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

[2018-09-10 11:47:01] #16 [Go To First Post]
nus1 - Posts: 39
Hi, very surprised how lightly Sierra Charts look into this matter. Reduce only is a must option on bitmex against overload moments(when price leaves corrective range). So before I set my limit position, one needs to make sure stop loss is in place 100%. Attached orders cannot guarantee this!!! In fact such orders do not function when overload(which is the case at bitmex & its biggest in the world) So what's good from your attached order when my limit gets filled(due to smaller degree structure break) only to break bigger structure as well whilst on system overload? CONCLUSION *need reduce only option for individual stop buy/sell*

[2018-09-10 17:40:24] #17 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
So you are saying you need Reduce Only for a Stop order which is not an Attached Order? This is currently supported for Attached Orders. And even when the order is not an Attached Order. Refer to this section here for instructions: https://www.sierrachart.com/index.php?page=doc/BitMEX_Trading.php#SettingOrderExecutionInstructions 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: 2018-09-10 18:55:34

[2018-09-10 18:54:28] #18 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
The prior post has been corrected. We provided the wrong link. 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: 2018-09-10 18:54:45

[2018-09-25 22:05:49] #19 [Go To First Post]
user8222 - Posts: 21
I too am waiting for this feature. It seems that stop orders can create new positions that you do not want if this feature is not available. I see the reduceonly option for Attached orders. Not sure how to get it to work with just one order. Edit: I figured it out. The command is Close,LastPrice It would be nice to have the option of setting whether or not you want the stop to reduceonly, but this will work for now. Date Time Of Last Edit: 2018-09-25 22:28:16

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