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LMAX Trading through Central FIX Connection with No Monthly Fees

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[2016-03-22 00:04:22] #75 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Letting you know we have switched to a backup market data connection with LMAX because our main connection got locked out because we changed the password for the new live trading connection and we did not realize the same username is being used for the market data connection. We are awaiting LMAX to reactivate the standard market data connection. The difference is the backup connection does not have depth. And it may also have a lower frequency of market data updates. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-22 00:12:32] #76 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
The main connection is now restored. There is three minutes of missing data which will be patched in the next couple of hours. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-23 08:35:55] #77 [Go To First Post]
gomifromparis - Posts: 244
It does not seem to enforce the Bid/Ask setting Use Bid/Offer Stops When checked, new Sell Stops will trigger when the Best Ask meets the Stop Level and Buy Stops will trigger when the Best Bid meets the Stop Level. When unchecked, new Sell Stops will trigger when the Best Bid meets the Stop Level and Buy Stops will trigger when the Best Ask meets the Stop Level.

[2016-03-23 08:42:13] #78 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
What setting are you referring to? There is no setting in Sierra Chart that would have any effect on this. The stop orders are filled by LMAX. This question should be directed to LMAX. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-23 09:14:32] #79 [Go To First Post]
gomifromparis - Posts: 244
This setting. LMAX/FIX stops me out when both bid and ask touch the stop price. LMAX/DTC stops me when bid or ask has touch the price. So it's much sooner, before price is actually touched. It acts like if the checkbox was not checked. So I'll keep directing the question to you, since it works as planned over FIX.


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[2016-03-23 16:11:02] #80 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We need to ask LMAX about this. This is something that they would control. We have no means to control this. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-23 16:35:17] #81 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Most likely the setting is going to affect all of the accounts on our master FIX connection. So the question is what do most people prefer? Hopefully enabled. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-23 16:36:11] #82 [Go To First Post]
gomifromparis - Posts: 244
Maybe they don't apply the customer settings on the grouped sierra connection. Anyway here's what happens, stop 128, executed 130 when price never got past 126 Date Time Of Last Edit: 2016-03-23 16:36:34


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[2016-03-23 16:40:30] #83 [Go To First Post]
gomifromparis - Posts: 244
It's very hard (in my opinion) to trade with the setting disabled. On the DAX when price approaches a pivot the spread on the breakout side will increase and take you out often.

[2016-03-23 16:41:43] #84 [Go To First Post]
AndyL - Posts: 119
The default behaviour (checkbox disabled, how it is right now) is how stops work on every other exchange. Sell-stops are triggered on bid price, buy-stops on ask-price. I wouldnt want a different behaviour and personally i dont see any good reason for changing this.

[2016-03-23 16:44:06] #85 [Go To First Post]
AndyL - Posts: 119
gomi: you have to account for the bid-ask spread when placing your stop then. Just put 0.8 points(or what you deem appropriate) farther away, i dont see what the problem is..

[2016-03-23 16:47:38] #86 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We are awaiting the answer from LMAX. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-23 16:50:11] #87 [Go To First Post]
AndyL - Posts: 119
P.S.: i know Sierra doesn't want feature requests right now, but since we are on the topic of stops: what i would find more useful is a stop that triggers on the mid-point price rather than a inverted bid-ask trigger.

[2016-03-23 16:55:10] #88 [Go To First Post]
gomifromparis - Posts: 244
@Andy it's not 0.7 or 0.8, my 128 stop was executed when the close price did not go over 126.3 . What happens is that one of the the bid or ask side stretches under some conditions ( approaching a S/R level, market maker fears a breakout)up to 2 or 3 points, the other side doesn't move as much, so you get a large spread and you get executed even if the real average(bid,price) is multiple points away. At least it's my analysis. Maybe it can be overcome by, I couldn't really use stops until I changed the setting.

[2016-03-23 16:58:40] #89 [Go To First Post]
AndyL - Posts: 119
I can see how its useful in the case of intermittent spread-spikes like in the dax cfd. But in other cases, for example when spreads get really wide during a news release or things like that, i find this not suitable. Ideally it would be a per-user setting..

[2016-03-23 17:01:33] #90 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
This is the answer from LMAX: This needs to be enabled on each sub-account, not on the Master FIX. When you place a Stop Order on each account, it should trigger according to the rules of "Bid/Offer Stops". Are you not seeing this behaviour? Regarding the feature request in post #87, currently we do not do any stop triggering within Sierra Chart. We would not be entirely comfortable with this. Especially being that some stops would be on the LMAX server and some stops would be held by us on our server. It would be confusing and potentially misleading for the user. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2016-03-23 17:05:16

[2016-03-23 17:03:14] #91 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Could you follow up with LMAX regarding stop triggering. They said this just now: Can you ask the client to provide us examples please? We'll investigate to see what's going on. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-23 17:09:43] #92 [Go To First Post]
gomifromparis - Posts: 244
ok, do you have a specific email adress ?

[2016-03-23 17:14:05] #93 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
(Email address removed) Let us know when you have this email address and we will delete it. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2016-03-23 17:39:26

[2016-03-23 17:34:04] #94 [Go To First Post]
gomifromparis - Posts: 244
ok got it, done. Date Time Of Last Edit: 2016-03-23 17:38:27

[2016-03-24 14:33:06] #95 [Go To First Post]
AndyL - Posts: 119
Have you had a chance to look at daily/historical data?


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[2016-03-24 16:36:38] #96 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Yes we did and we did get this working properly. However, it was disabled the last couple of days and had forgotten to reactivate it. This is now working properly. Go to Edit >>Download Data for All Historical Charts. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-24 16:37:06] #97 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Regarding stop order triggering, this is from LMAX: We realised the problem. The setting for "Bid/Offer Stops" needs to be applied to the Master FIX connection for it to apply to the sub-accounts. The only drawback to this is that the setting will apply to ALL Stop orders you place on any sub-account, regardless if the sub-account has the setting enabled or not. Not sure how to resolve this because most likely people want different settings? 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, change to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2016-03-24 16:37:22

[2016-03-24 17:07:42] #98 [Go To First Post]
gomifromparis - Posts: 244
The way it is now, it's an easy way for the market makers to earn free money by widening the spread. Just widen the spread and capture stops on both directions. Here's an intersting thread on the subject http://www.forexfactory.com/showthread.php?t=451423 Date Time Of Last Edit: 2016-03-24 22:17:13

[2016-03-24 17:58:27] #99 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
We will inform all of our LMAX users we will have this enabled and then we will do that. 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, change to the Teton service: Sierra Chart Teton Futures Order Routing

[2016-03-28 19:13:56] #100 [Go To First Post]
gomifromparis - Posts: 244
Hi Where are we standing for now ? Is is still the old setting that is active ? Another option could be to have 2 fix accounts on your side with different stop settings and the user would choose which account he wishes in the DTC connector options ?

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