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Date/Time: Fri, 23 Feb 2024 16:42:41 +0000



Teton StopLimit order price1 and price2 reverse

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[2023-01-24 06:02:39]
onnb - Posts: 660
I am looking at a trade activity log of a long trade executed on a Teton account.

During this trade a Stop order is placed as price X
The stop order is opened and then at some point it appears as a StopLimit order with price1 X and price2 Y (Y = X-3 points).
So far this is expected behavior

Then at some point we see the following happening at the same second
We get the following OrderActionSource message: "Updating last modify Price and Quantity to current values due to an external modification or other reason. LastModifyPrice1: 11610.25, CurrentPrice1: 11610.25, LastModifyQuantity: 0, CurrentQuantity: 1"

Price1 becomes Y, Price2 becomes X (they are swapped)
The order is marked as filled

I can end the log if it you want just let me know.

Is this expected that the prices switch like that?
[2023-01-24 07:07:42]
Sierra_Chart Engineering - Posts: 12922
The stop order becomes a Limit order after triggering. What you see does make sense. This is controlled by the exchange.
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
[2023-01-24 16:54:03]
onnb - Posts: 660
Thanks for confirming, understood on the stop converting to a limit order and controlled by the exchange.

We checked a few other activity logs where the stop is triggered. The sequence in the log is 99% the same. The only difference is that price1 and price2 are not swapped. In all other cases the same log sequence happens only price1 and price2 remain the same throughout.

This case was the first time we've seen such a thing. It was noticed because it causes the order to very briefly move to the limit price before it disappears from the screen.
I'm assuming this is a result of sequencing and timings on the exchange and it appears there is nothing fundamentally wrong, just strange and a bit alarming to see the order move like that.

Curious to know if you have ever seen that before or users have reported of seeing that?
[2023-01-26 23:49:11]
Sierra_Chart Engineering - Posts: 12922
What you see should be the case 100% of the time with the prices changing. It is expected.
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
Date Time Of Last Edit: 2023-01-26 23:49:27

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