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Direct MessagesDate/Time: Mon, 16 Sep 2024 20:54:05 +0000
Post From: Stop loss(market) order getting converted into a Stop limit order!
| [2024-07-05 18:07:40] |
| User763335 - Posts: 70 |
|
CME supports two types of STOP Orders. 1) Stop Limit Order. When a trade occurs at the trigger price, the stop order is triggered and becomes a Limit Order on the book. This is what you're referring to. 2) Stop Order with Protection. When a trade occurs at the trigger price, the Stop order is activated as a Market Order with Protection. The Protection point for Emini/Micro Emini futures is 3 points. Stop orders with protection prevent stop orders from being executed at extreme prices Pls refer to the following: https://cmegroupclientsite.atlassian.net/wiki/spaces/EPICSANDBOX/pages/46727472/Order+Types+for+Futures+and+Options https://www.cmegroup.com/education/protection-functionality-for-market-and-stop-orders.html I'm referring to the "Stop Order with Protection", where it becomes a market order, limited by the pre-defined protection point..(attached screenshot from CMEGroup). In the screenshot I posted earlier(with my live trade), I do see the "Price 2" column of the "Stop Limit" order, being decremented by 3 points to $5595.75 from the Stop trigger price of $5598.75..Not sure if you're setting the Limit order based on the CME defined protection point of 3 points or some other criteria. So it seems SC doesnt support "Stop market orders with Protection" to be specified explicitly, even if CME explicitly identifies this to be a valid stop order type ...? but you're implementing a Stop limit order with Limit set , Protection point (3 points) away ? |
 2024-07-05_13-45-22.jpg / V - Attached On 2024-07-05 17:47:07 UTC - Size: 77.52 KB - 48 views Attachment Deleted. |