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Direct MessagesDate/Time: Fri, 19 Apr 2024 22:43:35 +0000
OCO Limit & Stop Orders
View Count: 1327
| [2014-02-12 21:13:01] |
| drywater0 - Posts: 85 |
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My question is best illustrated by way of example. Assume I am ALREADY long 100 shares of SPY, and want to submit an OCO Sell Limit and Sell Stop order to exit the position. However, I want the prices for this OCO order to be a fixed distance or offset away from the current market price. I know that setting OCO prices using an offset can be done using the Targets tab on the Trading DOM and selecting "Use Attached Orders" on the Trade tab. However, this attaches the OCO to a new buy or sell order. I want to using this limit / offset functionality to submit an OCO order that stands on it's own independently because I already have the existing position. I hope I explained this clearly but if not, please accept my apologies in advance. Let me know and I will try to re-phrase my question. |
| [2014-02-12 22:34:32] |
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This is supported through Send Attached Orders: https://www.sierrachart.com/index.php?l=doc/doc_OrderTypes.html#SendAttachedOrders 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 |
| [2014-02-12 23:20:08] |
| drywater0 - Posts: 85 |
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Thanks for your response. After reading through through the documentation, I have a follow up question. Does Send Attached Order only work when there is an existing position? My guess is yes for Send Attached Orders by Position as it uses the average position cost. However, it wasn't clear to me whether an existing position was necessary in order to use Send Attached Orders by Price. Appreciate your help.
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| [2014-02-12 23:25:48] |
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There does not have to be a position if you send attached orders by Price.
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 |
| [2014-02-13 03:02:11] |
| drywater0 - Posts: 85 |
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Thank you for the response. Could you please clarify whether this (ie, not needing a position if Send Attached Order by Price) is true regardless of order entry method? I have different results based on how I enter the order. 1) After choosing Attached Orders-Price in the Trading DOM, I then select a reference price with the drop down and finally hit buy / sell. This generates the expected order and it is accepted by SC. 2) If I right click to the left of the price ladder on the Trading DOM and select Send Attached Orders By Price, I receive the following message in the Trade Service Log, "Trading error: A position must exist to determine Buy/Sell. Attached Orders not sent." The error message seems logical because when I make a selection from the context menu that appears with a right mouse click, SC only knows my reference price and my offsets but not my buy/sell direction. Therefore, I seem to be missing the step of how to specify buy/sell when using this second order entry method of clicking to the left of the price ladder. I appreciate your patience in going through this with me. Many thanks in advance. |
| [2014-02-13 23:51:11] |
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1. Yes this does make sense. 2. Thinking about this, this also makes sense. So it seems like we would have to add additional commands to specify whether you want to buy or sell for the Attached Orders. I think the hesitation why this was not added previously was to make this error free. 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: 2014-02-13 23:51:36
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