Support Board
Date/Time: Mon, 25 Nov 2024 10:44:39 +0000
Teton stop loss to stop limit mitigation
View Count: 249
| [2024-03-15 07:33:01] |
| User488241 - Posts: 35 |
|
Hello, I've read the documentation for stop losses turning into stop limit orders on the CME when using Teton. I kind of hate the idea of a stop loss turning into a stop limit order and am looking for a way to mitigate this. It doesn't seem like disabling the use server side oco and bracket orders does anything. Is there a way to keep the stop order on the client side so it can execute as a market order? I am also considering using the global profit/loss management to market flatten all positions in the event of the server side stop limit getting blown past. If there is a simpler way to make sure the stop loss is executing as a market order please let me know. Also, if I am misunderstanding the risk associated with a protective stop limit that's being used in place of a stop loss order please let me know. Thank you! |
| [2024-03-15 14:03:07] |
| John - SC Support - Posts: 36238 |
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Keep in mind the change of a Stop to a Stop-Limit is being done by the CME Group. They simply do not allow for simple Stops. The only thing you can do is what you have already mentioned - use a Client side order, which will be sent as a Market Order when it is hit. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-03-15 17:02:42] |
| John - SC Support - Posts: 36238 |
|
This really is not a problem because the limit price is significantly faraway from the Stop price. The best mitigation would be to consistently use Stop-Limit orders and set the offset even larger than the CME would use. Refer to these two offset settings at the following link and the one below it: Basic Trading and the Trade Window: Set >> Stop-Limit Order Limit Offset >> Primary Orders For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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