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Date/Time: Thu, 07 Jul 2022 15:56:17 +0000



Stop orders that fill immediately

View Count: 252

[2022-05-04 20:25:53]
DCSaba - Posts: 45
Dear Sierra,

I have a life-like situation, in which Sierra overrides my Stop order when it should not.
I would like my Sierra to accept if I want a Stop "where it doesn't belong" (Sell Stop above price or Buy Stop Below), that it should execute it anyway, ie. understand as a Market order.

Situations:
1) consider being in a position. Then consider wanting to place a Stop somewhere. At that moment price moves passed beyond this level and Sierra just just ignores my request. This is dangerous, because if the User wants a Stop somewhere, then they have a reason for it.
And this has nothing to do with "accidentally placing an order", for which we have the wise "Trading locked" setting in the Trade Menu.

2) Or consider another scenario: I'm intending to use the "BE" button after having placed a bracket order, because I consider that price should no longer return to that entry. At that moment price moves to this entry and Sierra just rejects my request to place the Stop to Entry and leaves it in place, where it will more than likely be hit seconds later (for the very reason I decided to make my move). This is like treating an adult like an imbecile.


I'm sure you already thought about this and found this in your documentation:
"
When Global Settings >> Chart Trade Settings >> Reject Stop Orders That Will Immediately Fill is enabled, then Sierra Chart will still accept...
"

But no matter if this is set to 'No' (or 'Yes"), my Stop order gets refused in the described situation.

Please help.


All the best,
[2022-05-04 21:24:28]
Sierra Chart Engineering - Posts: 103695
It is the exchange which is rejecting your Stop order or stop order modifications. Not Sierra Chart. You need to communicate this to them.

Or look at using a client-side managed stop order which we strongly recommend you do not:
Order Types: Stop with Last Triggering
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: 2022-05-04 21:25:11
[2022-05-04 22:16:14]
DCSaba - Posts: 45
I agree on not using Clienthside orders.
But I have reason to believe that the exchange declines the order.
You see; i have another account with Interactive Brokers where I can and have countless time placed Stop orders in the past 6 years without a single rejection.

Are you certain there is nothing in Sierra preventing this?

Thank you for your efforts in advance exploring this.

All the Best
[2022-05-04 22:20:47]
DCSaba - Posts: 45
I meant to say I have reason to believe ITS NOT the exchange...
[2022-05-05 05:47:01]
Sierra Chart Engineering - Posts: 103695
You can go ahead and believe that, but the exchange is rejecting the order.

We do not have time to discuss this. When we state something, it is correct.

Contact the exchange about this. This is not our responsibility at 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
Date Time Of Last Edit: 2022-05-05 05:47:13
[2022-05-05 17:03:29]
DCSaba - Posts: 45
OK. This means that the solution must be (and that is then what Interactive Brokers must have been working like), to have the order converted by Sierra itself, if at the time of Modification the Stop order happens to be beyond the Current Price in the market.

Could you include this perhaps into the next version of Sierra (beside the Menu Item Global Settings >> Chart Trade Settings >> Reject Stop Orders That Will Immediately Fill)?

Thank you in advance.

All the best,
[2022-05-18 20:16:04]
DCSaba - Posts: 45
Could you please consider this for the next version of Sierra?
[2022-06-02 16:00:56]
User145424 - Posts: 10
All other platforms I have used issue a market order when a stop is moved ahead of the current price. I would also benefit from the "Reject Stop Orders That Will Immediately Fill" option actually having some function rather than being a statement.

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