Support Board
Date/Time: Sat, 23 Nov 2024 05:20:41 +0000
Post From: Could not exit position
| [2024-09-11 20:43:32] |
| User98657 - Posts: 327 |
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John, I had an issue again today with an OCO order placed around a news event. My stop got jumped and rejected. I've come to understand now that this is essentially what happened to me on this original post request and so I'm simply adding onto that open issue instead of creating a new one. The original issue still has the remaining open item of why the Flatten order, which should have been sent as part of the Global P&L Management event that locked me out, either was not sent or was not recognized. I would still like someone at Teton to look at that TAL I submitted and get back to me on that. With today's issue, and last week's issue, I was able to figure out what happened. I did not realize that our stop orders are not actually stop orders and are in fact being converted to Stop Limit orders at the CME until now. I have to say, I was pretty shocked when I put those pieces together. While I understand your support post wherein you say [this is not being done by Sierra Chart], [it is being done by the CME], the question that isn't answered is why aren't we sending Stop Market instead of Stop Limit? The CME supports two types of Stop order - Stop Limit, and Stop Market (AKA "Stop with protection"). Why isn't Sierra Chart offering us the ability to select a true Stop Market order for protection? A stop limit is really not true protection. There's no need to provide the link referring me back to order types. I've spent the afternoon reading through them. It wasn't until I saw my TAL switch the order from Stop to Stop Limit that I was able to get to the bottom of it. If there's a reason SC cannot provide support for CME's Stop Market order type please just let me know what that might be. As it stands, there's really no way to use SC to trade something like a news event. But that is perhaps a secondary concern. I'm guessing there are thousands of users who don't realize their stop order is not actually a stop order. You could get flushed and rejected out of a stop limit order on any number of unforeseen market events. Thanks for your help as always. |