Login Page - Create Account

Trade Account and Risk Management


Introduction

This page documents the user interfaces and all of the tasks, for creating and managing trade accounts and setting risk management settings for those accounts for the Sierra Chart simulated and live server-based order routing and trading environments.

2021-07-24: This page is still in the process of being updated and completed.

Commands

This section describes the commands accessible from the Trade >> Trade Account Monitor >> Manage menu.

New Trade Account

Follow the instructions below to create a new trading account and share it to a user.

  1. Select Global Settings >> Data/Trade Service Settings.
  2. Set the Current Selected Service to Trading Evaluator [trading] or Trading Evaluator - Delayed [trading] depending upon whether you want to use the real-time or delayed trading evaluator.

    For live trading this needs to be set to SC CME Futures Order Routing

    Refer to the image below.
  3. Make sure Sierra Chart is connected to the data feed with File >> Connect to Data Feed.
  4. Press the OK button.
  5. From within Sierra Chart, select Trade >> Trade Accounts Monitor.
  6. From the Trade Accounts Monitor window, select Manage >> New Trade Account.
  7. Enter the trade account identifier, use letters and numbers only (_ and - are allowed). Press the OK button.
  8. The Trade Account Settings window will display.
  9. Select Main from the menu.
  10. On the Main tab, set the Currency Code.
  11. On the Main tab, set other settings as required. The defaults should be fine for most cases.
  12. On the Main tab in the Margin Settings section, set Use Percent of Margin Requirement to the percentage of the exchange specified margin requirement to actually use. 100 will use the exchange specified margin. 50 will use 50% of the exchange specified margin.
  13. Press the Commit button to save the new trade account to the server.
  14. If successful, you will receive a Commit is Successful prompt. Press OK for that.
  15. Select Read/Write Shared Usernames from the menu.
  16. In the Add New Read/Write Shared SC Username >> SC Username box, enter the Sierra Chart username (Account Name) that you want to share the trading account with. This will be the user who is meant to trade the account.

    If you do not know this, you need to ask the user this. They will find it under Help >> About in their Sierra Chart installation.
  17. Left click on the [Add] button below twice to invoke the add action. Refer to the image below. There is no need to perform a Commit after this, as this operation is sent to the server immediately. You will receive a prompt confirming the add is successful.
  18. Press the Close button.
  19. You can monitor the new trade account through the Trade >> Trade Accounts Monitor window.

Edit Trade Account

Follow the instructions below to edit an existing Trade Account, and change its settings including risk management settings.

  1. Select Global Settings >> Data/Trade Service Settings.
  2. Set the Current Selected Service to Trading Evaluator [trading] or Trading Evaluator - Delayed [trading] depending upon whether you want to use the real-time or delayed trading evaluator.

    For live trading this needs to be set to SC CME Futures Order Routing

    Refer to the image below.
  3. Press the OK button.
  4. Make sure Sierra Chart is connected to the data feed with File >> Connect to Data Feed.
  5. From within Sierra Chart, select Trade >> Trade Accounts Monitor.
  6. From the Trade Accounts Monitor window, select the particular account in the list that you want to edit.
  7. From the Trade Accounts Monitor window, select Manage >> Edit Trade Account.
  8. The Trade Account Settings window will display for that account. You will receive a message indicating the Update is successful. This indicates all of the existing settings have been received from the server. Until this message is displayed, you cannot edit the account.
  9. Use the menus at the top to select between the different available tabs.
  10. After making the necessary changes, press the Commit button to commit the changes to the server.
  11. If successful, you will receive a Commit is successful prompt.
  12. Press the Close button.

Duplicate Trade Account

Follow the instructions below to duplicate an existing Trade Account to create a new Trade Account based upon an existing Trade Account and then to share this new Trade Account to a user for trading.

Using this method, you can use existing Trade Accounts as templates. These template accounts, do not have to be used for trading. They can be set to have trading disabled and just used as templates.

  1. Select Global Settings >> Data/Trade Service Settings.
  2. Set the Current Selected Service to Trading Evaluator [trading] or Trading Evaluator - Delayed [trading] depending upon whether you want to use the real-time or delayed trading evaluator.

    For live trading this needs to be set to SC CME Futures Order Routing

    Refer to the image below.
  3. Press the OK button.
  4. Make sure Sierra Chart is connected to the data feed with File >> Connect to Data Feed.
  5. From within Sierra Chart, select Trade >> Trade Accounts Monitor.
  6. From the Trade Accounts Monitor window, select the line for the Trade Account you want to duplicate, in the list.
  7. From the Trade Accounts Monitor window, select Manage >> Duplicate Trade Account.
  8. Enter the new trade account identifier you want to use, use letters and numbers only (_ and - are allowed). Press the OK button.
  9. At the Include existing shared usernames prompt, click No to prevent the existing usernames from being included since most likely you will want to share the account with other usernames.
  10. The Trade Account Settings window will display.
  11. Select Main from the menu.
  12. Press the Commit button to save the new trade account to the server.
  13. If successful, you will receive a Commit is successful prompt. Press OK for that.
  14. Select Read/Write Shared Usernames from the menu.
  15. In the Add New Read/Write Shared SC Username >> SC Username box, enter the Sierra Chart username (Account Name) that you want to share the trading account with. If you do not know this, you need to ask the user this. They will find it under Help >> About in their Sierra Chart installation.
  16. Left click on the [Add] button below twice to invoke the add action. Refer to the image below. There is no need to perform a Commit after this, as this operation is sent to the server immediately. You will receive a prompt confirming the add is successful.
  17. Press the Close button.
  18. You can monitor the new trade account through the Trade >> Trade Accounts Monitor window.

Add Manual/Correcting Order Fill

To add a correcting or manual fill to a Trade Account for a particular symbol, follow the instructions below.

This does not result in submitting of an order to the exchange. It is only an internal adjustment to the Position Quantity for a particular Trade Account.

After adding a correcting/manual fill, the margin requirement is recalculated for the Trade Position and Trade Account.

  1. From within Sierra Chart, select Trade >> Trade Accounts Monitor.
  2. From the Trade Accounts Monitor window, select the line for the Trade Account you want to add a correcting order fill for in the list.
  3. From the Trade Accounts Monitor window, select Manage >> Add Correcting Order Fill.
  4. Left click twice on the [Select Symbol] button field. Select the symbol that you want to add a correcting order fill for and press OK.
  5. Enter a unique client order ID for the fill. This can be any identifier that you want to use for the fill.
  6. Choose whether this is a Buy or Sell fill.
  7. Enter a Fill Price.
  8. Enter the Fill Quantity.
  9. Enter optional text in the Free Form Text field.
  10. Press the Commit button to submit the fill. The Trade Positions window will then update with the correction.

Account and Risk Management Settings

Main

This is the main tab that specifies all the settings for a trade account, except settings which are specific to individual symbols and assignments of the trade account to specific Sierra Chart usernames.

Trade Account (General Settings)

This is the unique identifier for the trade account which is used throughout all of the order and trade processing and management functionality.

It can consist of the letters A through Z, both uppercase and lowercase. And the numbers 0 through 9, and the characters '-' and '_'.

This setting is read-only. The Trade Account identifier is either entered, or selected from the Trade Accounts Monitor list before the Trade Account Settings window is displayed.

Avoid using a naming pattern like Sim#[##] (where the # are numbers) for a Trade Account identifier because these conflict with Sierra Chart simulated account identifiers. This would only be for accounts created in the simulated trading service.

Currency Code (General Settings)

This setting is a standard currency for the currency of the account. It is supported to have a currency different than the currency used for the securities/contracts being traded. Current exchange rates are used to do the currency conversions.

Although it is recommended normally to use a currency which matches the predominant currency used for the securities/contracts being traded.

Firm ID (Live account only) (Identification Settings)

This setting is the firm identifier, as provided by the exchange. It is submitted with the orders sent to the exchange.

Sender Sub ID (Tag50) (Live account Only) (Identification Settings)

This setting is the Sender Sub ID field sent with the orders to the exchange. This needs to be set if the exchange requires it.

Sender Location ID (Live account Only) (List) (Identification Settings)

This setting is the Sender Location ID of the trader. This is set with the orders sent to the exchange. Select a location from the list.

Self Match Prevention ID (Live account Only) (Identification Settings)

This setting is an optional self match prevention ID sent with the orders to the exchange. It is used to prevent the orders from the same clearing firm from being matched with each other.

CTI Code (Live account Only) (List) (Identification Settings)

This setting is the Customer Type Indicator (CTI) code sent with the orders to the exchange. Choose the appropriate one from the list. Consult the exchange for the meaning of the different identifiers. Below is information from the CME for the meaning of CTI codes 1 through 4.

  • CTI 1: Applies to orders entered or trades executed by an individual member for their own account, for an account they controls, or for an account in which they have an ownership or financial interest. However, transactions initiated and executed by a member for the proprietary account of a member firm must be designated as CTI 2 transactions.
  • CTI 2: Applies to orders entered or trades executed for the proprietary accounts of a member firm, including Rule 106.H., I., N., R. and S. firms.
  • CTI 3: Applies to orders entered by a member or a nonmember terminal operator for the account of another individual member or an account controlled by such individual member.
  • CTI 4: Applies to all orders and transactions not included in CTI categories 1, 2, or 3. These typically are orders entered by or on behalf of nonmember entities.

Descriptive Name (Identification Settings)

This setting is an optional descriptive name that you can assign to the Trade Account. It is a free-form text field. It is visible in the Trade Accounts Monitor.

Require Sufficient Margin For New Positions (Margin Settings)

This is a Yes/No setting. It controls if there must be a sufficient Net Liquidating Value in the account, to meet the required margin requirement for the current open Orders and Positions.

This must be set to Yes, for Live trading accounts. Otherwise, the order would be rejected if there is insufficient margin for a new order.

Use Percent Of Required Margin (Margin Settings)

This setting specifies the percent of the exchange specified margin to use for Orders and Positions. If it is set to 100, then 100% of the exchange specified margin is required.

This is a global value that applies to all symbols. Although it can be set individually for symbols. In which case if it is set for a particular symbol, then this setting is overridden for that symbol.

To set this individually for a symbol, refer to Symbol/Product Limits.

Minimum Required Account Balance For Positions (Margin Settings)

This is a Yes/No setting. This specifies as a currency value in the currency of the Trade Account, the minimum required Account Value (Net Liquidating Value), which is required to submit orders. If the Account Value of the Trade Account is below this value, the orders are rejected.

When Flatten Positions When Under Margin Intraday is set to Yes, and the Minimum Required Account Balance For Positions setting is greater than zero, and the current Account Value is below the Minimum Required Account Balance For Positions, then all of the positions for the Trade Account will be closed. This can happen at any time during the trading day.

Maximum Allowed Account Balance For Margin Positions As Percentage (Margin Settings)

This setting specifies as a percentage, the percent of the Net Liquidating Value of the account which will be used for margin for Orders and Positions.

For example, if this were to be set to 50, then only 50% of the account value would be allowed to be used for margin. The other 50% would be in reserve.

Flatten Positions When Under Margin Intraday (Margin Settings)

This is a Yes/No setting. When this setting is set to Yes, then when the Net Liquidating Value of the account is less than 10% of the required margin, then all of the Positions in the Trade Account will be closed/flattened. The evaluation for this condition is every 500 ms.

This functionality is disabled for Live trading regardless of this setting. It is only used for simulated trading accounts.

Flatten Positions When Under Margin At End Of Day (Margin Settings)

This is a Yes/No setting. When this setting is set to Yes, then when the Net Liquidating Value of the account is less than 99% of the required margin, then all of the Positions in the Trade Account will be closed/flattened. The evaluation for this condition is at the end of the trading day. Refer to Start/End of Trading Day.

This functionality is disabled for Live trading regardless of this setting. It is only used for simulated trading accounts.

Daily Net Loss Limit In Account Currency (Daily Net Loss Limit Settings)

This setting specifies the Daily Net Loss limit, as a fixed currency value in the currency of the account.

The Daily Net Loss is calculated from the sum of the closed positions profit/loss for the trading day, and the open profit/loss for the currently open positions.

This is a negative number but if it is entered as a positive number it will be interpreted as a negative number regardless.

When the Daily Net Loss has been reached, and Do Not Allow Increase In Positions At Daily Loss Limit is set to Yes, then until the new trading day begins, usually during the start of the evening session, it is not possible to increase or establish new positions until then.

Percent Of Cash Balance For Daily Net Loss Limit (Daily Net Loss Limit Settings)

This setting specifies the daily loss limit, as a percentage of the Net Liquidating Value (NLV) of the account, at the time this is set, or at the start of the trading day when that is encountered, and this has been set to a nonzero percentage. 1 = 1% and 100 = 100%.

So this is going to be recalculated each day at the start of the trading day.

The daily loss is calculated from the sum of the closed positions profit/loss for the trading day, and the open profit/loss for the currently open positions.

When the Daily Loss has been reached, and Do Not Allow Increase In Positions At Daily Loss Limit is set to Yes, then until the new trading day begins, usually during the start of the evening session, it is not possible to increase or establish new positions until then.

Do Not Allow Increase In Positions At Daily Loss Limit (Daily Net Loss Limit Settings)

This is a Yes/No setting. When the Daily Loss Limit has been reached and this is set to Yes, then an increase in Position quantity is not allowed. Therefore, an order which can potentially increase the Position quantity will be rejected.

Flatten Positions At Daily Loss Limit (Daily Net Loss Limit Settings)

This is a Yes/No setting. When the Daily Loss Limit has been reached and this is set to Yes, then all Positions for the Trade Account are flattened and closed out. Working orders are also canceled at the same time.

Another name for this feature is Auto Liquidation. This functionality is disabled for Live trading regardless of this setting. It is only used for simulated trading accounts.

Use Trailing Account Value To Not Allow Increase In Positions (Daily Net Loss Limit Settings)

Not currently documented. Implementation to be changed.

Trading Is Disabled (Access Control Settings)

This is a Yes/No setting. When this is set to Yes, then trading is disabled for the account. This means that order entry, order modifications and order cancellations are not possible. It is still possible to view Orders and Positions.

Trade Account Is Read Only (Access Control Settings)

This is a Yes/No setting. When this is set to Yes, then trading is disabled for the account. This means that order entry, order modifications and order cancellations are not possible. It is still possible to view Orders and Positions.

Liquidation Mode Only (Access Control Settings)

This is a Yes/No setting. When this is set to Yes, then the Trade Account is in Liquidation Only mode. In this mode, it is only possible to reduce the quantity of existing positions. It is not possible to establish a new Position or increase the quantity of any existing Position.

Maximum Global Position Quantity (Global Position Limit Settings)

This setting specifies the maximum allowed Position quantity limit for the total of alll Symbols in the Trade Account. This considers the quantity of both working Orders and Positions.

As an example, if this is set to 5, symbol A has a Position quantity of 2 and symbol B has a Position quantity of 3, then there will not be any additional increase allowed through new or existing orders for the Trade Account because the quantity limit has already been reached.

This value must be entered as a positive value. It applies to the total of all long and short Positions and Orders across all symbols for the Trade Account.

When this setting is set to 0, it means it is disabled.

Trade Fee Per Contract (one side) (Commission Settings)

This setting is optional. This is the trade fee per contract per side. It is applied to the account, when a position is closed. It is also supported to set a fee per individual symbol. Refer to Symbol Commissions.

Use Percent Of Required Margin For Day Trading (Day Trade Margin Settings)

This setting is only used when the Begin/End Time For Day Trading Margin settings have specified a day trade time range.

This setting specifies the percent of the exchange specified margin to use for Orders submitted during the day trade time range. If there is already a Position on the Trade Account for the symbol from the prior day or outside of the day trade time range, then this setting is not used and the standard margin setting applies.

If it is set to 100, then 100% of the exchange specified margin is required.

This is a global value that applies to all symbols. Although it can be set individually for symbols. In which case if it is set for a particular symbol, then this setting is overridden for that symbol.

To set this individually for a symbol, refer to Symbol/Product Limits.

Close Positions At End Of Day (Day Trade Margin Settings)

This is a Yes/No setting. When this setting is set to Yes, then Positions in the Trade Account are closed at the end of the trading day according to the Start/End of Trading Day setting.

This setting is ignored for Live trading.

Begin Time For Day Trading Margin (Day Trade Margin Settings)

This setting specifies the beginning time of the day, to use the Use Percent Of Required Margin For Day Trading setting for required margin calculations.

If this is set to 00:00 and End Time for Day Trading Margin is also set to 00:00, then the day trading margin settings are all ignored and effectively disabled.

End Time For Day Trading Margin (Day Trade Margin Settings)

This setting specifies the ending time of the day, to use the Use Percent Of Required Margin For Day Trading setting for required margin calculations.

If this is set to 00:00 and Begin Time for Day Trading Margin is also set to 00:00, then the day trading margin settings are all ignored and effectively disabled.

Day Margin Time Zone (List) (Day Trade Margin Settings)

This setting specifies the time zone for the Begin/End Time For Day Trading Margin time settings. Those time values are interpreted according to this time zone.

Is Master Firm Control Account (Use Master Firm Control Account Settings)

When this setting is set to Yes, it means this particular Trade Account functions is the master firm control account. There can only be one Trade Account in the system which is the master firm account. This account will have been created for you, by a Sierra Chart administrator.

The master clearing firm control account, is able to override specific settings for all of the other Trade Accounts in the system, and use its own settings, instead of the settings of the other Trade Accounts.

For example, there can be one Use Percent of Margin Requirement setting for a particular product, which is global to the system which is specified through the master firm control account.

Flatten Positions When Under Margin Intraday (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Flatten Positions When Under Margin Intraday setting overrides, the corresponding setting on all of the other Trade Accounts in the system.

Flatten Positions When Under Margin At End Of Day (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Flatten Positions When Under Margin At End Of Day setting overrides, the corresponding setting on all of the other Trade Accounts in the system.

Trade Fees (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Trade Fee Per Contract and the Symbol Commissions settings override, the corresponding settings on all of the other Trade Accounts in the system.

However, if a particular symbol on a particular Trade Account specifies a commission/fee for that symbol and there is no specific commission/fee set for that symbol on the master firm control account, then the commission/fee that is configured for the symbol on the particular Trade Account will still be used. In this case this override is ignored.

Full override is supported. Refer to the setting below.

Trade Fees - Full Override (Global Override) (Use Master Firm Control Account Settings)

When the setting Trade Fees (Global Override) is set to Yes, and Trade Fees - Full Override is also set to Yes, then in this case the master firm control account commissions/fee settings will always be used, regardless of whether a particular symbol on a particular Trade Account specifies a commission/fee for that symbol.

Require Sufficient Margin For New Positions (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Require Sufficient Margin For New Positions setting overrides, the corresponding setting on all of the other Trade Accounts in the system.

Use Percent Of Required Margin (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Use Percent Of Required Margin and the Current Symbol Limits >> Use Percent Of Required Margin settings override, the corresponding settings on all of the other Trade Accounts in the system.

However, if a particular symbol on a particular Trade Account specifies a nonzero Use Percent Of Required Margin for that symbol and there is no specific Use Percent Of Required Margin set for that symbol on the master firm control account, then the Use Percent Of Required Margin that is configured for the symbol on the particular Trade Account will still be used. In this case this override is ignored.

Full override is supported. Refer to the setting below.

Use Percent Of Margin - Full Override (Global Override) (Use Master Firm Control Account Settings)

When the setting Use Percent Of Required Margin (Global Override) is set to Yes, and Use Percent Of Margin - Full Override is also set to Yes, then in this case the master firm control account Use Percent Of Margin settings (including the symbol specific settings) will always be used, regardless of whether a particular symbol on a particular Trade Account specifies a specific Use Percent Of Margin value for that symbol.

Use Percent Of Required Margin For Day Trading (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Use Percent Of Required Margin For Day Trading and the Current Symbol Limits >> Use Percent Of Required Margin For Day Trading settings override, the corresponding settings on all of the other Trade Accounts in the system.

However, if a particular symbol on a particular Trade Account specifies a nonzero Use Percent Of Required Margin For Day Trading for that symbol and there is no specific Use Percent Of Required Margin For Day Trading set for that symbol on the master firm control account, then the Use Percent Of Required Margin For Day Trading that is configured for the symbol on the particular Trade Account will still be used. In this case this override is ignored.

Full override is supported. Refer to the setting below.

Use Percent Of Margin For Day Trading - Full Override (Global Override) (Use Master Firm Control Account Settings)

When the setting Use Percent Of Required Margin For Day Trading (Global Override) is set to Yes, and Use Percent Of Margin For Day Trading - Full Override is also set to Yes, then in this case the master firm control account Use Percent Of Margin For Day Trading settings (including the symbol specific settings) will always be used, regardless of whether a particular symbol on a particular Trade Account specifies a specific Use Percent Of Margin For Day Trading value for that symbol.

Maximum Allowed Account Balance For Margin Positions As Percentage (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Maximum Allowed Account Balance For Margin Positions As Percentage setting overrides, the corresponding setting on all of the other Trade Accounts in the system.

Minimum Required Account Balance (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Minimum Required Account Balance setting overrides, the corresponding setting on all of the other Trade Accounts in the system.

Margin Time Settings (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Begin Time For Day Trading Margin, End Time For Day Trading Margin, Day Margin Time Zone settings override, the corresponding settings on all of the other Trade Accounts in the system.

Trading Is Disabled (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Trading Is Disabled setting overrides, the corresponding setting on all of the other Trade Accounts in the system.

Do Not Allow Increase In Positions At Daily Loss Limit (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Do Not Allow Increase In Positions At Daily Loss Limit setting overrides, the corresponding setting on all of the other Trade Accounts in the system.

Num Days Before Last Trading Date To Disallow Orders (Global Override) (Use Master Firm Control Account Settings)

When this setting is set to Yes and this Trade Account is a master firm control account, then the Current Symbol Limits >> Number of Days Before Last Trading Date to Disallow Orders setting for the symbol overrides the corresponding setting on all of the other Trade Accounts in the system.

Authorized Usernames

The authorized Usernames, are the usernames of the Sierra Chart users who are authorized to edit the trade account settings, and adjust account balances.

In the case of live trading, there should be no authorized usernames set here. This needs to remain blank in that case. Authorized users are not set through this interface and have to be configured on the server directly.

SC Usernames >> Trade Account Data Usernames (List) (SC Usernames)

This list shows the currently set authorized users for the Trade Account.

Remove (Button) (SC Usernames)

To remove a username from the list, select the username from the Trade Account Data Usernames drop-down list and left click on the Remove button field.

You will receive a prompt to remove the username, and another prompt when the operation is complete.

Add New SC Username >> SCUsername (Add New SC Username)

This is an edit box, for adding a new authorized username. These are Sierra Chart usernames and the username that you are using in Sierra Chart can be found in Help >> About.

After entering the username, left click on the Add button field

Add (Button) (Add New SC Username)

To add a username to the list, enter the username in the Add New SC Username >> SCUsername edit box and left click on the Add button field.

You will receive a prompt to dd the username, and another prompt when the operation is complete.

Symbol/Product Limits

The Symbol/Product Limits tab is for specifying various limits and other risk parameters, per individual symbol or product.

Current Symbol Limits >> Trade Account Data Symbol Limits (List) (Current Symbol Limits)

This is a list of all of the symbols that currently have limits set for them.

To add a symbol, refer to Add button.

Current Symbol Limits >> Trade Position Limit (Current Symbol Limits)

This setting specifies the maximum allowed position for the symbol for the Trade Account. This considers both working orders, and the current position quantity.

Current Symbol Limits >> Order Quantity Limit (Current Symbol Limits)

This setting specifies the maximum allowed order quantity for an individual order for the symbol for the Trade Account.

Current Symbol Limits >> Use Percent Of Required Margin (Current Symbol Limits)

This setting specifies the Use Percent Of Required Margin for the symbol for the Trade Account.

Current Symbol Limits >> Use Percent Of Required Margin For Day Trading (Current Symbol Limits)

This setting specifies the Use Percent Of Required Margin For Day Trading for the symbol for the Trade Account.

Current Symbol Limits >> Number of Days Before Last Trading Date to Disallow Orders (Current Symbol Limits)

This setting specifies the number of calendar days before the last trading date for the symbol symbol, where orders will be disallowed, when an order is submitted on this date or after for the symbol.

This can be a value anywhere from 0 to 30.

Remove (Button) (Current Symbol Limits)

To remove a particular symbol and all of the associated limits from the list, select the symbol from the Current Symbol Limits >> Trade Account Data Symbol Limits drop-down list and left click on the Remove button field.

To actually commit the change to the server you need to press the Commit button. You will receive a prompt when the commit is completed.

Add New Symbol Limits >> Trade Account Data Symbol Limits (List) (Add New Symbol Limits)

This is a drop-down list of all of the available symbols that limits can be set for. Select a symbol from the list and left click on the Add button field to add the symbol.

After adding a symbol, set the limits and then perform a Commit by pressing the Commit button.

Add (Button) (Add New Symbol Limits)

The Add button field is for adding a new symbol to the list of symbols to set limits for. Select a symbol from the list and left click on the Add button field to add the symbol.

After adding a symbol, set the limits and then perform a Commit by pressing the Commit button.

Symbol Commissions

The Symbol Commissions tab, is for setting commissions and fees, per individual symbol.

Current Symbol Commissions >> Symbol (List) (Current Symbol Commissions)

This is a list of all of the symbols that currently have commissions set for them.

To add a symbol, refer to Add button.

Current Symbol Commissions >> Trade Fee Per Contract (one side) (Current Symbol Commissions)

This setting specifies the trade fee, as a currency value, per contract per side for the selected symbol.

Remove (Button) (Current Symbol Commissions)

To remove a particular symbol and all of the associated fields for that symbol from the list, select the symbol from the Current Symbol Commissions >> Symbol drop-down list and left click on the Remove button field.

To actually commit the change to the server you need to press the Commit button. You will receive a prompt when the commit is completed.

Add New Symbol Commissions >> Symbol (List) (Add New Symbol Commissions)

This is a drop-down list of all of the available symbols that commissions can be set for. Select a symbol from the list and left click on the Add button field to add the symbol.

After adding a symbol, set the commissions and then perform a Commit by pressing the Commit button.

Add (Button) (Add New Symbol Commissions)

The Add button field is for adding a new symbol to the list of symbols to set commissions for. Select a symbol from the list and left click on the Add button field to add the symbol.

After adding a symbol, set the commissions and then perform a Commit by pressing the Commit button.

Read/Write Shared Usernames

The Read/Write Shared Usernames tab is for entering Sierra Chart usernames that have read and write access to the trading account.

Read and write access means these usernames will be able to trade the account (submit new orders, modify orders and cancel orders) and view orders, positions and balances.

These usernames will not be able to change any settings on the trade account including risk parameters, and will not be able to make an adjustment to the account balance.

Read/Write SC Usernames (List) (Read/Write Shared Usernames)

The Read/Write SC Usernames list, lists all of the Sierra Chart usernames which currently have read/write access to the trade account.

To add a username, refer to Add (Button) (Add New Read/Write Shared Usernames).

Remove (Button) (Read/Write Shared Usernames)

To remove a username from the Read/Write SC Usernames list, select the user name from the list and left click on the Remove button field.

SC Username (Add New Read/Write Shared Usernames)

This edit field is for entering a Sierra Chart username which will have read/write access to the trade account.

A user can determine their username through the Help >> About window within Sierra Chart.

To actually add the username to the list, select the Add button field below and then left click on the Add button field.

For more details, refer to Add (Button).

Add (Button) (Add New Read/Write Shared Usernames)

The Add button field is for adding a Sierra Chart username to the list.

First select Add button field line, and then left click on the Add button to perform the operation.

For more details, refer to SC Username (Add New Read/Write Shared Usernames).

Read-Only Shared Usernames

The Read-Only Shared Usernames tab is for entering Sierra Chart usernames that have read-only access to the trading account.

Read-only access means these usernames will only be able to view orders, positions and balances.

These usernames will not be able to trade the account, change any settings on the trade account including risk parameters, and will not be able to make an adjustment to the account balance.

Read-Only SC Usernames (List) (Read-Only Shared Usernames)

The Read-Only SC Usernames list, lists all of the Sierra Chart usernames which currently have read-only access to the trade account.

To add a username, refer to Add (Button) (Add New Read-Only Shared Usernames).

Remove (Button) (Read-Only Shared Usernames)

To remove a username from the Read-Only SC Usernames list, select the user name from the list, select of the Remove button field line and then left click on the Remove button field.

SC Username (Add New Read-Only Shared Usernames)

This edit field is for entering a Sierra Chart username which will have read-only access to the trade account.

A user can determine their username through the Help >> About window within Sierra Chart.

To actually add the username to the list, select the Add button field below and then left click on the Add button field.

For more details, refer to Add (Button).

Add (Button) (Add New Read-Only Shared Usernames)

The Add button field is for adding a Sierra Chart username to the list.

First select Add button field line, and then left click on the Add button to perform the operation.

For more details, refer to SC Username (Add New Read-Only Shared Usernames).

Sharing Options

Not currently documented or implemented.

Is Trade Statistics Publically Shared (Sharing Options)

Not currently documented or implemented.

Is Read Only Following Requests Allowed (Sharing Options)

Not currently documented or implemented.

Is Trade Account Sharing Allowed (Sharing Options)

Not currently documented or implemented.

Read Only Share To All SC Usernames (Sharing Options)

Not currently documented or implemented.

Internal Values

This tab, shows the internal values of the Trade Account. Many of these are visible already on the Trade Accounts Monitor.

The purpose of this tab is to see the current state of the Trade Account for information and diagnostic purposes.

These values will be updated when the Update button is pressed. Otherwise, they are not automatically updated.

Current Cash Balance (Read Only) (Internal Values)

This is the current cash balance of the account. This does not update until there is a cash balance adjustment or a position is closed or partially closed.

Available Funds For New Positions (Read Only) (Internal Values)

This field is the Account Value field minus the Margin Requirement.

Margin Requirement (Read Only) (Internal Values)

This field is the margin requirement for the Trade Account based upon the required margin for each Position which considers both the working Orders and current Position quantity for a symbol.

Account Value (Read Only) (Internal Values)

The Account Value field is the Cash Balance field plus the Open Positions Profit Loss field.

Open Positions Profit Loss (Read Only) (Internal Values)

The Open Positions Profit Loss field is the Profit or Loss for the currently open Trade Positions in the Trade Account.

Daily Profit Loss (Read Only) (Internal Values)

The Daily Profit/Loss field is the total profit or loss for the trading day for closed trades.

This field resets once a day. For the reset time, refer to .

Transaction Identifier For Cash Balance Adjustment (Read Only) (Internal Values)

Every time there is a Cash Balance field adjustment, this field is the transaction identifier assigned to that adjustment. So this field indicates the transaction identifier for the most recent cash balance adjustment.

Last Transaction Date Time UTC (Read Only) (Internal Values)

This is the Date-Time of the most recent cash balance adjustment on the Trade Account.

Trailing Account Value At Which To Not Allow New Positions (Read Only) (Internal Values)

Not currently documented.

Calculated Daily Net Loss Limit In Account Currency (Read Only) (Internal Values)

When Daily Net Loss Limit In Account Currency or Percent Of Cash Balance For Daily Net Loss Limit is set, then this is the calculated daily net loss limit in the account currency.

Daily Net Loss Limit Has Been Reached (Read Only) (Internal Values)

When the Daily Net Loss Limit has been reached for the Trade Account, this field indicates this state. This field will be Yes or No.

Last Reset Daily Net Loss Management Variables Date Time UTC (Read Only) (Internal Values)

This is the Date-Time in UTC, when the daily net loss management variables used internally, have been reset. This field also indicates the time the Daily Profit/Loss has been reset back to 0 for the start of the next trading day.

Is Under Required Margin (Read Only) (Internal Values)

When the Account Value (net liquidating value) is below the Margin Requirement, then this field is set to Y (Yes). Otherwise it will be N (No).

Open Positions Profit Loss Based On Settlement (Read Only) (Internal Values)

This is the Profit/Loss for the currently open Positions using the last received settlement price from the exchange to calculate the profit/loss value for.

Margin Requirement Full (Read Only) (Internal Values)

This is the margin requirement based upon 100% of exchange specified margin for the open Orders and Positions for the Trade Account.

Margin Requirement Full Positions Only (Read Only) (Internal Values)

This is the margin requirement based upon 100% of exchange specified margin for the currently open Positions for the Trade Account. Open orders are not included in this margin requirement calculation.

Peak Margin Requirement (Read Only) (Internal Values)

This is the maximum Margin Requirement required for the Trade Account at any point in time during the trading day.

Manage Trade Account

The Manage Trade Account tab is used to delete a trading account.

Deleting a Trade Account will not delete the Trade Account history. It will prevent the account from being used, and will delete current account data (not history). Any existing working Orders and Positions will continue to exist. The account can be re-created at a later time.

Delete Trade Account (Button) (Manage Trade Account)

Left click twice on the [Delete Trade Account] button field to initiate the deletion of the Trade Account.

You will receive two confirmations which must be acknowledged before the account will actually be deleted.

Update and Commit Buttons

At the bottom of the Trade Account Data Settings window, there are Update and Commit buttons. This window can be opened by using the various Commands documented.

The Update operation, is automatically performed when the Trade Account Data Settings window is opened. When that completes, you will receive a notification message indicating the update is complete. This is normal. If for some reason this were to fail like when not connected to the data feed (File >> Connect to Data Feed), then you can manually update by pressing the Update button.

You can also press the Update button at any other time to get an updated view of the settings on the server for the Trade Account to confirm that what you are seeing are the current values. Normally this is not necessary. However, it just is helpful for additional confirmation. You do need to use a Update button when you want to see the updated values on the Internal tab.

Anytime you change any of the settings on the Trade Account Data Settings window other than adding or removing a username, it is necessary to commit those settings through to the server the by pressing the Commit button. Otherwise, you are just looking at local changes which are not committed and would be lost when closing the Trade Account Data Settings window without committing.

Alerts

Audible, visual, and email or SMS alerts can be configured for the following events for each Trade Account:

  • DailyLossLimitReached
  • AccountIsUnderMargin
  • AccountBalanceIsTooLow

Follow the instructions below to enable alerts.

  1. Select Trade >> Trade Accounts Monitor to open the Trade Accounts Monitor window. If this window is not visible, then select Window >> Reset Windows. And then reopen it if necessary.
  2. On the Trade Accounts Monitor window, make sure there is a checkmark by Balance >> Enable Alerts.
  3. On the Trade Accounts Monitor window, select Balance >> Alert Number. Choose an Alert Number from the drop down list. This is the alert number, that alerts are associated with. The purpose of this is to specify a notification email address. The email address for the alert number is configured through the Alert Sound Settings.
  4. It is not possible to specify a different alert sound for the different events listed above in this section. These are preconfigured, and are voice alerts.
  5. Make sure Sierra Chart is connected to the server by selecting File >> Connect to Data Feed.
  6. When any of the following conditions/events are met for the trading account, an alert is generated. Daily Loss Limit Reached, Account Is Under Margin, Account Balance Is Too Low. There will be an audible voice stating the type of alert, and a message will be added to Window >> Alert Manager.

Global Positions View

It is supported to view the net position quantities for each traded symbol, of all Trade Accounts collectively. So this would show per symbol, the net long or short position for each symbol.

To display this window, select Trade >> Global Trade Positions Window. If this window does not display, then select Window >> Reset Windows and reopen it if necessary.

Start/End of Trading Day

The start of the trading day can be configured for the order routing system. This is also considered the end of the trading day as well. So when the trading day ends, the new trading day begins.

Currently for simulated trading this is set to 16:59 US Eastern time. This is also considered, the end of the trading day.

There are various actions which occur at this time. They are as follows.

  1. Close positions at end of day when the account specifies this action.
  2. Close positions at end of day when the account is under margin and the account specifies this action.
  3. Removing positions from the account which have a zero quantity.
  4. Closing positions which are after the last trading date for the symbol (Simulated trading only).
  5. Resetting the Daily Profit/Loss value for each position and also the account.
  6. Resetting the flag which indicates positions have been closed when the daily loss limit has been reached.
  7. Recalculating required margin for Orders and Positions.

It is intended, that there be separate times, configurable per Trade Account and also globally overridable by the master firm account, for these actions. This will be implemented.

Specific Tasks

Assigning Sierra Chart Username to be Authorized User for Trade Account and Risk Management

For live order routing, specific Sierra Chart usernames can be configured to have authorized access to all Trade Accounts for a particular clearing firm. This access includes the ability to manage these accounts, set risk management settings, and trade these accounts.

No other users will be allowed to access these Trade Accounts other than the trader who the account has been shared with, and they will only be able to trade the account and not change risk management settings.

To specify a set of usernames, start an Account Support Ticket and specify the name of the clearing firm and email address, and telephone number of the clearing firm contact. Specify that you want to have these usernames be the authorized users only or that you want to add a particular username. The email address needs to match the name of the clearing firm. We will follow up by email and telephone for confirmation.

Additional security can be added, by specifying IP addresses which will be used to manage trade accounts and set risk management parameters. If the connection is not from the particular IP, these actions will not be allowed.

Disabling Day Trading Margin

Follow the instructions below to disable the use of Day Trading Margins globally.

  1. Edit the Master Firm Control Account settings.
  2. Set the Main >> Use Master Firm Control Account Settings >> Margin Time Settings to Yes.
  3. Set the Main >> Day Trade Margin Settings >> Begin Time for Day Trading Margin to 00:00.
  4. Set the Main >> Day Trade Margin Settings >> End Time for Day Trading Margin to 00:00.
  5. Press the Commit button.
  6. At this time any day trade margin percentages are globally ignored.

Setting Order Rate Limit

An order message rate limit can be set. This includes messages for new orders, order modifications and order cancellations. This setting specifies the number of messages per 10 seconds which can be submitted per connected user, before there is a rejection of the messages which exceed the limit.

To specify this limit, start an Account Support Ticket and specify the name of the clearing firm and email address, and telephone number of the clearing firm contact. Specify the number of messages per 10 seconds, per connected user that you want to set as the limit. The email address needs to match the name of the clearing firm. We will follow up by email and telephone for confirmation.

Setting Operator ID ( FIX Tag 50 ) and Sender Location ID for Risk Manager

To specify the Operator ID and Sender Location ID for risk managers for live CME order routing, from within Sierra Chart select Global Settings >> Global Trade Settings.

These settings only apply to the authorized risk management users. Any values set here that are set by the individual trader, are ignored.

In the Live Account Risk Manager Settings section in the Risk Manager Operator ID String Override edit box, enter the identifier that you want to use for the operator ID.

In the Live Account Risk Manager Settings section in the Risk Manager Sender Location ID String Override edit box, select your location.

Reconnect to the data feed. The reconnection is necessary for the server to get the updated values.

Email Event Notifications

Email notifications are generated for the following:

  1. System Level Alerts
  2. Messages related to the synchronization of Account balances and Positions to clearing firm import files
  3. Messages for changes to critical Trade Account risk management settings

To specify the email addresses, start an Account Support Ticket and specify the name of the clearing firm and email address, and telephone number of the clearing firm contact. Specify that you are providing the email addresses, for the above event notifications for the clearing firm for Sierra Chart direct order routing.

The email address needs to match the name of the clearing firm. We will follow up by email and telephone for confirmation.

Account Balances Import File

It is supported to import an end of day account balances file containing all of the account balances for each trade account.

During the import process, this will adjust the Cash Balance field of each trade account to cause the Net Liquidating Value (NLV) of the account, to match this balance in the import file. The NLV consists of the cash balance plus the open profit/loss. Any open profit/loss which exists at the time of the import, is based upon the settlement price from the exchange. So effectively all positions are marked to the market at the end of the day.

This file needs to be uploaded after a preset time which is configured according to clearing firm requirements. This file can be re-uploaded anytime after that time, to make corrections. The order routing server, will automatically read the file again when it is modified.

File name format: AccountBalances_YYYY-MM-DD.csv. The date portion is the date that the Account balances are for. Example: AccountBalances_2021-06-07.csv

For safety reasons, a balance value of 0 is ignored. A 0 balance value is ignored in case there is some kind of an error preventing the reading of the balance field, which would cause the balance of the account to be sent to 0 and could cause positions to be liquidated unexpectedly since the account is under margin (although at the time of this writing, auto liquidation is not enabled for live trading).

If the Trade Account actually has a zero balance, you need to disable trading on the Trade Account instead and manually set the Account Cash Balance to 0. Or Delete the Trade Account.

Example file contents:

    
Account, Balance
123, 52000

Account Positions Import File

It is supported to import an end of day positions file containing all of the positions for each symbol and trade account. This will then be compared against the positions, in the order routing system and any differences will generate notification emails.

It is fine for there to be spaces after a comma.

You will receive an email notification when the import operation is complete. It will happen within two minutes after uploading the file.

For safety reasons Positions within the order routing system are not changed but email notifications are generated for position differences. You can then add a correcting fill manually to correct the Positions that are different.

File name format: AccountPositions_YYYY-MM-DD.csv. The date portion is the date that the Positions are for. Example: AccountBalances_2021-06-07.csv

Example file contents:

    
Account, Symbol, Exchange, Quantity
210016, ESH1, CME, -8

Uploading Import Files

This section describes the method by which the Account Balances Import and Account Positions Import files are obtained for the order routing service to synchronize its own account balances in positions to the clearing from files.

The method by which this is done, is specific for each clearing firm and will be implemented appropriately.


*Last modified Tuesday, 12th October, 2021.