Support Board
Support Board
Search Board
Control Panel
View My Posts / Threads
Direct MessagesDate/Time: Thu, 02 May 2024 09:04:10 +0000
"Flatten and Cancel" versus "Flatten"
View Count: 76
| [2024-03-28 14:37:19] |
| DCSaba - Posts: 94 |
|
Dear Sirs @Sierrachart, I have read about this subject in the Forums and saw many have a problem that stems from the current functions of these two buttons: I discovered an inconsistency that I would like you to look at: "Flatten & Cancel" does indeed close the Trade Postion but NOT ONLY cancels the Bracket along with this, but ALSO CANCELS other Resting Entry Orders, that have nothing to do with the Active Bracket, and this is usually NOT required. As you correctly point out in the Forum: one can use the alterbative: "Flatten Only" function, and so preserve one's other Resting Orders' position(s) in the queue. BUT (!): While "Flatten Only" closes the Trade Postion of course, but LEAVES EVEN the Bracket of the Trade Postion intact, which is usually NOT required (in contrast with other Resting Entry Orders, which should NOT be cancelled). Please note, that this handling is very different from the (super useful!) "SCALE-IN / SCALE-OUT" functions of Sierra that (if allowed in the Settings) always adjust the Trade Postion to newly Filled Orders, while we are in a Trade Positon. So when using the "Flatten Only" button, by the same logic: Sierra SHOULD CANCEL the Bracket (just like the Scale-in/Scale-out reduces the size of the Bracket according to a newly Filled Order that happens to reduce the Trade Postion to zero, which of course means a Bracket size of zero, i.e. CANCELLED). On the side: I checked if this problem was perhaps caused by the difference between closing the Trade Postion with a Market Order instead of a Limit Order, that one usually uses in the case of "Scale-in/Scale-out" action. But as I tested it, I found that the "Scale-in/Scale-out" function works just as awesomely with Market Orders, too. Conclusion: So this is just a problem with the "Flatten Only" functionality that does not act in accordance to the "Scale-in/Scale-out" functionality. As these two functionalities are very much related, it would make sense to bring them in alignment: Of course, if you prefer to keep the current working of the "Flatten Only" function as it is, then the obvious option would be to make this working dependent on the "Scale-in/Scale-out" options being active in the Settings, so: If "Scale-in/Scale-out" is not allowed in the Settings, then the "Flatten Only" function works as it did before, but if "Scale-in/Scale-out" is allowed, then the "Flatten Only" function should so-to-say scale the Position down to zero, which effectively SHOULD CANCEL THE BRACKET, too. The obvious advantage of this would be that we can have our other Resting Entry Orders stay in their respective queue postions and not get cancelled alongside with the Bracket of the Trade Postion that is being closed. Hope this makes sense to you. I look very much forward to discussing it, too, if you'd like. Thank you, Date Time Of Last Edit: 2024-03-28 14:39:13
|
To post a message in this thread, you need to log in with your Sierra Chart account: