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Date/Time: Thu, 28 Mar 2024 09:22:29 +0000



Flatten and Cancel only canceled

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[2019-04-25 12:55:12]
patrader - Posts: 92
Today I was short FBGL on Eurex with 2 targets for objective and one combined stop-loss. When I clicked "Flatten and Cancel" in the chart trade window, only the targets/stop orders were canceled and I was still short. Thoughts?
[2019-04-25 13:14:22]
patrader - Posts: 92
The same feature (Flatten & Cancel) just worked fine with a short trade in RB on CME.
[2019-04-25 18:40:36]
Sierra Chart Engineering - Posts: 104368
This would mean that the market order to flatten got rejected. You will see the information for this in the Trade Activity Log:
Trade Activity Log

We recommend enabling this option:
Global Trade Settings Windows: Hold Market Order Until Pending Cancel Orders Are Confirmed (Global Settings >> General Trade Settings >> General)
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: 2019-04-25 18:41:16
[2019-04-25 21:41:48]
patrader - Posts: 92
I checked my activity log to gain more insight because at the time I hit flatten and cancel the price action wasn't anywhere near my profit or stop. I have a MaxClipSize limit on FGBL of 10 contracts. I was short my maximum (10) with a profit target of 10 contracts and a stop-loss of 10 contracts (server-side OCO with CQG; using native stop and limit orders on the exchange). When I hit flatten and cancel the profit/stop OCO was canceled but I was left still short 10. You are correct in that that the market order was rejected. I got this message: "CQG order update (Rejected). Text: Commodity US.DB position limit is 10, worst case position is 20". CQG's risk management system self-evidently considered the possibly of me being left flat with a 10 lot OCO as being a risk of having 20 contracts. I'm thinking about possible workarounds. It seems that enabling the option proposed would cancel the OCO first and this would work. But there's a built-in delay with that. I suppose another option would be to use locally held simulated stop/profit orders. Regardless, I thought I'd mention this to the extent Sierra wanted to have this issue explained in its help system. Flatten and cancel (when not checking the option suggested) runs the risk of rejected market orders for exceeding a trader's MaxClipSize when the OCO uses exchange-held orders. A trader who chooses not to enable the proposed option needs to know to stay <=50% of MaxClipSize. I have this confirmed by trying an entry order OCO that was 50%+1 contract of my MaxClipSize. It was rejected. That's how CQG does it. How about other technology providers? Like TT with Sierra's new order routing service?
Date Time Of Last Edit: 2019-04-26 01:38:09
[2019-04-26 04:47:58]
Sierra Chart Engineering - Posts: 104368
The relevant documentation has been updated:
Basic Trading and the Trade Window: Main/C >> Flatten (Flatten and Cancel)

How about other technology providers? Like TT with Sierra's new order routing service?
This depends upon how the clearing firm has configured the trading account and what Position limits are set. It is certainly possible you can encounter the very same scenario even when using TT.
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

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