Support Board
Date/Time: Wed, 04 Dec 2024 19:52:54 +0000
Spreadsheet trading: cant place an exit stop loss order with a working take profit
View Count: 90
| [2024-11-15 09:09:48] |
| User745789 - Posts: 327 |
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When my spreadsheet places an entry order, the associated attached take profit order is placed by the Trade Window, using attached orders. It works perfectly. However I still need to place a stop loss at a certain level. I am not able to use attached bracket orders for this as the stop loss level depends on the price action, not a fixed number of ticks as required by the Trade Window settings. ...So I use the spreadsheet to place the stop loss order: Using Col L "Buy Exit" my condition to trigger an exit is =J5<>0, that means I have a position, now place an stop loss at the specified level. However the error in the Trade Services Log is: "BuyExit signal ignored. Long position quantity does not exist or there are already working exit orders that will flatten the position..." I believe it is the bold text that is the problem - why cant I place a stop loss order via the spreadsheet? I have the Trading Window set to cancel all orders when a position is flattened. So having two working exits is not an issue. How do I solve this? |
| [2024-11-15 15:41:50] |
| John - SC Support - Posts: 36470 |
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The first thing is that you can not use the "Exit" columns along with working orders. The Spreadsheet System for Trading will not allow it. This is why you are getting that error. Also, we are not understanding what you are wanting to accomplish exactly. In particular, you state that you are entering the following formula for a "Buy Exit": =J5 <> 0 This would mean that as soon as you have an open Long position, it should be closed out. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-11-16 02:56:46] |
| User745789 - Posts: 327 |
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Ok, I understand the situation. The workaround is to have two spreadsheets. The first manages entry and take profit exit using col K and L - it works perfectly. The second places the required stop exit order at the appropriate time and location - it also works perfectly. Then all orders are cancelled on flatten. It all works perfectly. So I have two spreadsheets for one strategy and do not use Trade Window 'attached orders', which is not workable in my construction. Also, we are not understanding what you are wanting to accomplish exactly. In particular, you state that you are entering the following formula for a "Buy Exit":
=J5 <> 0 This would mean that as soon as you have an open Long position, it should be closed out. It would not close out immediately. I enter a long position, and the spreadsheet creates an exit order. In this case a stop loss order below my entry for a long. It would not close out immediately. Date Time Of Last Edit: 2024-11-16 03:24:19
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