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Date/Time: Thu, 28 Mar 2024 22:35:57 +0000



[User Discussion] - Problem with Live Trade using Teton Order Routing and attached Stop Loss

View Count: 391

[2023-05-25 21:28:17]
Steve Leon - Posts: 289
I was trading ES during cash session today and I entered a trade (1 contract) using a buy limit order at around 11:21 (see attached Trade activity log). This had an attached Stop order.
The market swept against me immediately as i got filled. My stop loss was 6 ticks. It seems as though the Stop loss order did not trigger and then seemed to cancel because now the price was below the sell stop order. So not only did I not get stopped out for 6 ticks (or slightly more with slippage) but I had an unprotected position. I then manually with mouse (used a market if touched order; i could have also hit flatten but this is what i am used to doing)-i dont believe you allow for straight market order on the mouse ? At this point I took a 13 tick loss instead of an expected 6 tick loss. I would like you to look at the trade activity log I am providing and let me know what if anything went wrong or how it could have been done differently to avoid this - other than not trading. I can also provide you a short video of the trade if that helps in any way.
Thank you
SL
imageStop Loss not Respected.PNG / V - Attached On 2023-05-25 21:27:49 UTC - Size: 158.42 KB - 64 views
[2023-05-26 13:47:13]
John - SC Support - Posts: 30444
At 11:21:21.202 we see the following in the OrderActionSource:
"Order update (Order reject). Info: Teton CME Order Rout"

It looks like this may be the cause of your issue, but we do not have enough information to know why the rejection occurred. Please look at the OrderActionSource for that and see if there is more information. Also, take a look at the "Trade >> Trade Service Log" and see if it gives additional information on why there was a rejection.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-05-26 13:54:48]
Sierra_Chart Engineering - Posts: 13610
This may have been the problem:
Attached Orders: Market Moving Quickly Beyond Stop Price Causing It to Become Invalid
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
[2023-05-26 17:10:16]
John - SC Support - Posts: 30444
From Email:

1) I am attaching the Trade Activity Log with order action source for what
you are looking for.
2) When I try to look at the Trade Service Log it only shows the
entries for today ? Not sure if somehow these were cleared ?
3) Would you suggest using automatic replacement market order for rejected
stop attached order ? or i have heard this can be avoided by using an OCO
order because those orders are server side and attached orders are not ?
Could this also happen with tight stop on an OCO order ? I would prefer
not to use an OCO order based on my current style of trading but would be
willing to make the change if you suggest this will solve this specific
problem
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
imagetmp_1685120109_Follow up on order entry problem stop loss n.png / V - Attached On 2023-05-26 17:10:09 UTC - Size: 164.24 KB - 46 views
[2023-05-26 17:14:10]
John - SC Support - Posts: 30444
1. Given that the rejection is that the "Sell stop price must be below last trade price", then the most likely scenario is what is in post #3.

2. Your "From" date is set to the 25th. You would need to adjust this date and then select the "Apply" button.

3. Yes - refer to the information in the link in post #3.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-05-26 17:29:02]
Steve Leon - Posts: 289
Not that it is related to my original question but I am referring to the Trade Service Log vs. Trade activity Log. For Trade service log i only see entries for today. even if i set the trade activity log to an earlier date
just trying to understand

What about the comments i made about the OCO orders. This was talked about by someone on YouTube that uses Sierra Charts. Could this also happen with an OCO order ? Are the attached stop orders server side or only OCO orders ?

Thank you
SPL
[2023-05-26 18:01:56]
John - SC Support - Posts: 30444
Not that it is related to my original question but I am referring to the Trade Service Log vs. Trade activity Log. For Trade service log i only see entries for today. even if i set the trade activity log to an earlier date
just trying to understand

Sorry, we did not read close enough. The Trade Service Log is not kept around after you close Sierra Chart. So any time you close the software and reopen it, the data for the Trade Service Log starts over.

With regards to the OCO orders, it does not matter since you are using Teton Order Routing. With Teton, all orders, except for Market if Touched, and specific Client orders are on our server, or sent to the exchange. So it does not make a difference in this case.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-05-26 18:09:58]
Steve Leon - Posts: 289
The only option right now for buy/sell market orders using the mouse to enter on the Trade DOM is using market if touched. Is there anyway that you can add buy and sell market orders to the list. I have been using market if touched which sounds like it is suboptimal.
Thank you
SPL
[2023-05-26 20:28:35]
John - SC Support - Posts: 30444
You can always do a Limit order and put it above the current price for a Buy Market and put it below the current price for a Sell Market. Since the prices are more favorable, these will fill at the current price.

And there is a right-mouse option for both Buy Market and Sell Market. And you can setup Control Bars and Keyboard shortcuts for the Buy/Sell Market.

Not to mention the options for Flatten, Cancel, and Flatten and Cancel.
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: 2023-05-26 20:28:56
[2023-05-26 20:41:14]
Steve Leon - Posts: 289
That would be great except i dont see a Buy Market/Sell Market feature under the Chart DOM settings - Global; dropdown menu only shows Market if Touched and Market if touched - client.
I am running version 2457 right now
i guess you could program the right mouse to do Buy Market and left mouse to sell Market using keyboard shortcuts ?
Thanks
SPL
[2023-05-26 20:52:39]
John - SC Support - Posts: 30444
You are correct, there is not an option for Buy/Sell Market in the Chart DOM Settings.

Like we said, you can program a Buy Limit or Sell Limit for Above/Below the current price, which will fill at the Market price. Try this in Sim to see how it works.

You do not need to program the mouse for Keyboard Shortcuts, just setup a keyboard shortcut using whatever keys you want for a Buy Market and Sell market.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-05-27 00:23:19]
Steve Leon - Posts: 289
Thank you very much for the advice. I will definitely try using it next week. This sounds like a good answer maybe what i should be using regardless.

I know this is hard to answer but should i use an offset for more volatile markets or conditions ? If so do you have any suggestions for what sometimes people use for futures markets ?

Thank you
SPL

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