Login Page - Create Account

Support Board


Date/Time: Mon, 22 Apr 2024 16:39:53 +0000



How to prevent separate orders from being combined while in Chart Trading

View Count: 1008

[2020-10-01 15:26:39]
User_1.0 - Posts: 96
Hi,
I'd like to have separate orders (ie. scaling in), each with its own set of attached stop loss & target exits.
I'd like to be able to track them separately on the chart while in Chart Trading mode.
However, once the 2nd order is filled, the order position in the chart is adjusted to show the average between the two orders.
Is there a way to prevent this from happening?
[2020-10-01 16:37:19]
John - SC Support - Posts: 31012
To start with, if you want to have separate attached orders, then you do NOT want to use Scale In. Refer to the information here:
Attached Orders: Scaling In

Also, be aware that Sierra Chart only has a single Open Trade Position line, which is always displaying the average of the open positions. Refer to the information here:
Trading Information Windows: How Average Price for Positions Is Calculated and Used
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2020-10-01 18:53:50]
User_1.0 - Posts: 96
Can you add a function such that it can accommodate more than one open trade position line within the same account?
[2020-10-02 03:54:18]
ondafringe - Posts: 247
I agree... it would be so nice if we could turn off averaging and keep all orders separate on the DOM and Chart... and attached stops and targets stayed permanently attached to the position where they were originally attached. That would make scaling in/out so much easier and cleaner. Without that, once you start adding/subtracting to/from your position, everything gets all jumbled together and you can't tell what's what anymore.

Like scalp targets for the second position close out some positions from the first order and some from the second order. And stops get semi-orphaned because the position they were originally attached to was closed prematurely and now they are attached to a different position. And on and on it goes. I've tried everything I can think of, but nothing seems to work the way it needs to work. So I've settled on LIFO and try to keep track of things the best I can.
[2022-12-19 07:53:06]
rink - Posts: 1
Hi,
Has this function been added yet?
thx
[2023-03-09 11:48:54]
User990006 - Posts: 2
Hi, Team. That would be great and very usefull.
Please add that function!

Thanks
[2023-03-10 18:02:16]
n8trading - Posts: 23
I'd like to see something like this, but a slightly different idea: Every time you scale in (i.e. add X contracts to an open position), a separate stop is created for that set of additional contracts (which is currently possible by having Support Scale In turned off), BUT, keep the same take profit/target and add those additional contracts (and subtract when you scale out of some the contracts) to it with the value that it would be if the market gets to that target. So, you would only have separated stops when you scale into a position (so that you can scale out/reduce your position size if the market goes against you), but have a single target order that shows the aggregate of all current open contracts.

I'm not the best at explaining things so hopefully this makes sense. And this idea is based on LIFO. Also, would love to hear if you guys see any reason why this would NOT be a good idea. Thanks!
[2023-07-17 08:14:27]
User545485 - Posts: 1
Yes, it would be fantastic if we could manage the positions separately.
Because when the price reaches daily support and you take a buy trade to hold for several hours :
- either you stop taking new trades for the day
- or take scalps, knowing that closing a trade will close your first trade, buying on resistance, but leave the scalp open!
In these conditions, it's impossible - and a pity - to scalp around a core position. :)

To post a message in this thread, you need to log in with your Sierra Chart account:

Login

Login Page - Create Account