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Direct MessagesDate/Time: Sun, 05 May 2024 17:37:18 +0000
Scaling In: Even Distribution + Adjusting Take Profit Order Based on Average Entry Price
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| [2022-09-18 14:55:33] |
| User538960 - Posts: 29 |
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Dear SC Support Team, I have been using the scaling in functionality (after entering initially with one common attached stop loss order and two attached take profit orders) for quite some time now and there are a few "issues" (or rather "feature requests") I would like to address: 1. Even Distribution As it is now, whenever only 1 additional contract is scaled in, also if "Even Distribution" is set in the General Trade Settings for ScaleIn/Out, that contract will always be added to the nearest take profit order attached to the initial entry (which is also described in the documentation, so I understand that this is no flaw). However, the problem is that I always use limit orders to scale in; and even if that limit order consists of 2 contracts, if not both those contracts are filled instantly at the very same time but e.g. one of them is only filled a few seconds later, it will happen that both contracts will be added to the nearest resting take profit order, instead of distributing them evenly. Is there any way you can implement a functionality that prevents that (by e.g. allowing x seconds between fills before the second fill is considered a new scale-in; or by simply still distributing any contracts evenly until the entire scale-in order's contracts are filled, no matter how much time elapses between fills)? Furthermore, I often only scale in with ONE contract per scale-in at a time. That's why I would love to at least have the option in the settings to have each single scaled-in contract placed at whichever take profit order has the lowest quantity of contracts at the time of the scale-in. Because as it is now, after a few scale-ins of single contracts, the bulk of the contracts will be sitting at the nearest take profit order, so I do have to adjust the quantities of both take profit orders manually in order to distribute the contracts more evenly. Is there any chance you might add an additional option in the settings that allows for such an even distribution of single scaled-in contracts, too? (Actually, adding such a feature that simply considers the currently existing quantities of contracts at each take profit order would address the issue of partial fills described above, too.) 2. Adjusting Take Profit Order Location Based on Average Entry Price Let's say my intitial take profit order is x ticks away from my intial entry price. I usually scale in with more contracts if the price moves against me after my intial entry, which will improve my average entry price. After each scale-in I then manually move the nearest Take Profit order to +x ticks based on the new average entry price (which naturally will then be closer to the current price than the original take profit order). Unless I have overseen it in the documentation, I don't think there is currently a possibility to have this done automatically? And if there indeed isn't, would you kindly consider adding such an option in the "Scale In/Out" settings? That would be appreciated. Thank you very much in advance for looking into these things and potentially implementing solutions for future releases. |
| [2022-09-18 19:33:10] |
| Sierra_Chart Engineering - Posts: 14234 |
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1. We can do something to help with this. We will look at that. 2. There is no support to do this automatically. 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, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-09-18 20:06:06] |
| User538960 - Posts: 29 |
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Thank you for the feedback. 1. That would be great, thank you. 2. O.K., so I did not overlook anything in the documentation then. However, do you think such an automatic function might be added by you somewhen in the future (once you find the time; I know you are currently pretty busy and have to set priorities...)? I think it would be a very useful feature. |
| [2022-09-18 22:00:32] |
| Sawtooth - Posts: 3993 |
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The Trade Management by Study study can move the nearest TP by following the output value of a formula, in either a spreadsheet study, or the Spreadsheet Formula study. Attached Orders: Study Controlled Targets and Stops |
| [2022-11-03 10:54:22] |
| Sierra_Chart Engineering - Posts: 14234 |
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1. There is a new even distribution option available in Global Settings >> General Trade Settings >> Scale In/Out. It is the fourth one in the list and it is new behavior. It ensures as best as possible, a true even distribution of quantities across all of the attached orders. Make sure you are on the latest release. 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, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-11-03 17:56:49] |
| User538960 - Posts: 29 |
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Great! Thank you for implementing it. Can't wait to use it. Regarding the 2nd feature I asked for (the option to automatically adjust the 1st take profit of x ticks to the AVERAGE entry price +x ticks after any scale-ins): Is this also still on your To-Do-List or is this something you won't provide? (In your first reply you only confirmed that this is not supported (yet?)...). Again, I think it would be an extremely useful feature. |
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