Support Board
Date/Time: Mon, 17 Mar 2025 12:18:05 +0000
New Manual orders as Reversal
View Count: 579
| [2022-09-01 17:29:13] |
| User190501 - Posts: 98 |
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Hi Support, How to place new opposite orders and consider it as reversal manually ? For example, Trade window setup to enter order quantity as 3, target 1 = 3, target 2=5 and target 3 = 50 -- stop moved to BE after 5 ticks So assume you enter a long and target 1, target 2 is hit -- so now we have +1 and stop moved to BE Assume the the price went up 30 ticks and then you need to take a new sell stop order -- Now if this order fills, it will offset the current +1 long and the active position will be -2 ? Is there a way to enter that new sell order of -3 and if filled it will offset +1 without using of the new sell 3 orders -- in other way, it can be filled as a reversal ? Thanks |
| [2022-09-01 18:32:59] |
| John - SC Support - Posts: 38678 |
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If we are understanding you correctly, then you would want to remove the original Target 3 that was placed and enter a Stop Limit order at that price for a quantity of 3. When the price then moves to that level you will close out the original Long position and end up with a short order with a quantity of 2. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-09-01 18:42:15] |
| User190501 - Posts: 98 |
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I have attached a chart to explain it better than text.
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 2022-09-01 14_35_45-.png / V - Attached On 2022-09-01 18:38:10 UTC - Size: 46 KB - 111 views |
| [2022-09-01 18:56:02] |
| John - SC Support - Posts: 38678 |
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What we said above still stands based on your figure. Is there something we are missing with what we stated?
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-09-01 19:48:22] |
| User190501 - Posts: 98 |
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The point is that u maintain the same quantity number at each entry .. now second entry would be -2 and this is not -3 -- so how come this resolved the issue -- you need each new entry as a reversal like if u have a spreadsheet or ACSIL reversal entry --- each new opposite entry when filled will flatten any other existing positions -- Hope this is clear now .
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| [2022-09-02 09:24:12] |
| Sierra_Chart Engineering - Posts: 18805 |
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We are not understanding this. This is for you to figure out what to do based upon what you want to do. This is not for us to be helping with. You need to figure this out. 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: 2022-09-02 09:24:21
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| [2022-09-02 17:48:10] |
| John - SC Support - Posts: 38678 |
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The ownership of the company are well aware of your statements, as they keep up with this support board. We have tried to understand what you are wanting, and every time we read through this, we come to the same conclusion. You are talking about a Manual trade and you want your +1 position to change to a -2. We took the -2 from your statement above of "Now if this order fills, it will offset the current +1 long and the active position will be -2 ?" We can not determine how what we have stated previously of using a Stop-Limit with a quantity of -3 does not solve your question. Here is how we interpret what you have asked for: You are in an long position and have passed through the first 2 targets, which has left you with a +1 position. You then want to reverse that position at a certain level, instead of closing the position with the last target. Therefore, you would enter a Stop Limit of -3 at the price point you want, and when the price hits it, you will be in a -2 Short position. Also, there is a "Flatten and Reverse" button on the Trade Window that will reverse your position. We have explained our interpretation multiple ways in order to explain how and why we have come to the conclusion you have. We have not made any derogatory statements towards you in the process. You do not like our answer, therefore we have turned this into a User Discussion, as hopefully another customer will understand what you want. We will not respond further. 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: 2022-09-02 17:48:27
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| [2022-09-02 20:29:04] |
| User190501 - Posts: 98 |
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Thanks John for your reply, my answer was directed to the other one posting from the account <<Sierra_Chart Engineering>> not you. However , I think you didn't complete the full paragraph as you just cut the statement and this was the confusion.. My statement was <<<<Now if this order fills, it will offset the current +1 long and the active position will be -2 ? Is there a way to enter that new sell order of -3 and if filled it will offset +1 without using of the new sell 3 orders -- in other way, it can be filled as a reversal ?>>>>> I was explaining to you what is currently going on as it offsets the current +1 USING ONE order of the new submitted order ... I need to Reverse -3 --- Let me explain here again and again . You are +1 market went up for example 50 ticks or so ... Now you need to reverse the trade IF and ONLY IF a new SELL STOP ORDER -3 is FILLED .... My request is HOW can we fill the new submitted -3 orders and the result will be ACTIVE -3 sell position and the pre-existing +1 will be flattened??????? |
| [2022-09-02 21:09:01] |
| John - SC Support - Posts: 38678 |
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From what you are saying, I will stick with what I have said with one small change. Set the Sell Stop-Limit to a quantity of 4. Then when the +1 closes out, you end up with -3.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-09-02 21:56:05] |
| User190501 - Posts: 98 |
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Thanks John. The solution is to support a couple of options in the Trade Window settings: * Enable Reversals. This feature is already supported as option in the Spreadsheet trading and in ACSIL trading. The objective is regardless of what quantity is on the current position, a new entry will reverse without using any of the order quantity to flatten the current active position. Will you be able to add it ? It is already existing in Spreadsheet trade study settings and you can also use it as one configuration in ACSIL. It is currently missing from the Trade Window for manual entries. Again, Don't be confused between it and the Reverse Button on the trade window. The reverse button is to reverse once clicked.. This one will reverse when the pending new stop order will be filled for the new opposite entry.. I hope this is all clear. |
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