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Can't find the right Order type...

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[2013-11-13 16:18:18] #1 [Go To First Post]
wwwingman - Posts: 185
Hi, I have a question about order types. I am in a position. No target, no stop. I would like to add a OCO limit and stop orders for exiting the trade. Is this possible ? FWIW : here is one of the condition where I need that : I am long 9 contracts with 3 OCO groups of 3 contracts. Target 1 and 2 groups are reached. I then decide that we may go higher than expected but still want to take off some risk. I stay in the position, but cancel my OCO group 3. I would like to create 2 or 3 new OCO scale groups with the rest of my position. Am I missing something ? W.

[2013-11-13 16:39:15] #2 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Yes. You can do this. This is documented here: http://www.sierrachart.com/index.php?l=doc/doc_OrderTypes.html#SendAttachedOrders http://www.sierrachart.com/index.php?l=doc/doc_OrderTypes.html#OCOLimitandStop 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

[2013-11-13 17:35:59] #3 [Go To First Post]
wwwingman - Posts: 185
Thank you. The OCO limit and stop is not the order type to choose because it forces me to add to my position for the OCO to be created (Am I wrong ?) I don't want to add to the position. It is already open and at the right size. The Send Attached orders by position IS a solution, when we are near the avg entry price. However, it is not practical when not near the entry price, this is why I abandoned it in the past. The Send Attached orders by price is supposed to be my solution. But I have NEVER managed to make it work... Like the OCO Limit/stop it forces me to add to the position. I use the TradeDOM. Please advise. W.

[2013-11-17 00:06:25] #4 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
The OCO limit and stop is not the order type to choose because it forces me to add to my position for the OCO to be created (Am I wrong ?) No, this is not correct. The Send Attached orders by price is supposed to be my solution. But I have NEVER managed to make it work... Like the OCO Limit/stop it forces me to add to the position. This is the first we have heard of this. We just tested it now in Trade Simulation Mode. Works just fine and as intended. And why would add to the position? It does no such thing. This is bewildering what you have said. 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

[2013-11-17 01:21:10] #5 [Go To First Post]
wwwingman - Posts: 185
Great ! This means I am surely doing something wrong. Here is what I do : TradeDom / OCO Limit & Stop order type. Use Attached Orders checked. Simple Bracket (Target = x limit ticks, Stop = x stop ticks). Left clic on Buy at y price. For ex below current price. I have 3 orders on the DOM : * buy at y : was sent to the market (but not executed since below current price) * sell limit at y+x and sell stop at y-x. those are OCO and are not sent if y is not executed. What I am looking to do is to have the OCO sell y+x and y-x sent to the market, without buying at y. I am sorry if this sounds silly, but it is something I need very often and something I used to do very easily with another DOM (NT). W. Date Time Of Last Edit: 2013-11-17 08:58:39

[2013-11-18 01:47:20] #6 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
With what you described you are actually not submitting the order type that you want. Step-by-step instructions can be found here: http://www.sierrachart.com/index.php?l=doc/doc_ChartTrading.html#EnteringOrdersFromTheChart (be sure to look at the subsection for OCO order types) http://www.sierrachart.com/index.php?l=doc/doc_OrderTypes.html#SendAttachedOrders 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: 2013-11-18 01:47:54

[2013-11-18 08:12:03] #7 [Go To First Post]
wwwingman - Posts: 185
I read this documentation many times before sending my first message here. I was not able to do what I indicated before. And still cannot. I asked for help and got links instead of answers. I admire Sierra Chart and use it happily daily. But now I have to switch to another DOM. Thank you for your time. W. Date Time Of Last Edit: 2013-11-18 08:43:01

[2013-11-18 08:32:07] #8 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
Here is a direct link to the section: http://www.sierrachart.com/index.php?l=doc/doc_ChartTrading.html#EnteringOCOOrders It is titled in case the browser does not scroll to the correct position: Entering OCO Orders Which Use 2 Prices. We just did some updates to the page, so reload the page in your browser. The instructions are straightforward. You just simply right-click and select of the particular OCO order type you want from the menu. You first have to add it to the menu (Global Settings >> Customize Chart Trade Menu). In the case of the Trade DOM, here is an example: http://www.sierrachart.com/images/TradeDOM_ChartTradeMenu.png And we did take the time to analyze the message which was the reason why there was a delay with responding. We needed to make sure we understood it clearly. 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: 2013-11-18 09:09:37

[2013-11-18 10:58:30] #9 [Go To First Post]
wwwingman - Posts: 185
1. You answered my question : "Entering OCO Orders Which Use 2 Prices" / "Buy OCO Limit and Stop (does not support Attached Orders)". 2. Your answer delay was not the issue. It is the fact I spent 3 weeks trying to decode the documentation and making tests unsuccessfully. It is very possible I am the only one with such problems, but I doubt it. And, I never had such problems with other topics (ACSIL/charting/...). 3. This type of order is not available (as far as I understand) in the trade window where I thought all order types were gathered, unlike the right button mouse where you preset what is best for you. This is confusing and less "user friendly" to me and to other traders I asked for help during the past weeks (and that were not able to answer my request neither...). 4. FWIW and probably just a silly remark : I came to the conclusion in the past that Sierra is the best charting & programming tool available for me (I used a lot Ninja/IRT/MarketDelta/TraderNavigator). I still think it is the best there is and doubt this will change in the near future. However, this does not include the DOM and the time I lost on this issue strengthen my perception about this. Thank you for your answer, support, time and patience. W.

[2013-11-18 16:06:37] #10 [Go To First Post]
Sierra Chart Engineering - Posts: 104368
1. How does this answer the question? If you are referring to the fact that, that particular order type does not support Attached Orders, all that means is that you cannot attach Target and Stops to the Limit order and also to the Stop order. If this were the case, you would end up with at least 6 orders being added to the order list. When one of the parent orders fills, its Attached Orders would become active and the other order in the OCO group and its children would be canceled. This is not what you are looking for. This is the reason why that order type does not support Attached Orders. There are two methods to do what you want. The other method is to Send Attached Orders by Price. Here is the documentation for that: http://www.sierrachart.com/index.php?l=doc/doc_OrderTypes.html#TradeDOMEnteringOrders We have reviewed and updated the instructions. It should be very straightforward to do this. 2. We have referred users many times to the documentation of sending attached orders independent of a parent order. No one has pointed out the documentation was not clear or at least did not comment on it. Generally they do not come back with more questions. Nevertheless, we have clarified it some more. 3. Yes it is. It is in the list of order types on the Trade Window. It is right there at the bottom. You should not miss it. 4. OK, but please reevaluate based upon what we have said above. 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: 2013-11-18 16:08:41

[2013-11-18 16:32:59] #11 [Go To First Post]
wwwingman - Posts: 185
Thank you. 4. Yes. Please give me a few days to reevaluate and answer to all your comments. W. Date Time Of Last Edit: 2013-11-18 22:16:36

[2013-11-28 18:13:17] #12 [Go To First Post]
wwwingman - Posts: 185
Hi, 1. Both types of orders work for me now. 2. You are right. I simply think you lost users on the road and know some of them. 3. I believe the OCO which use 2 prices does not appear (I prefer that type to the send attached orders by price). 4. I think the sierra DOM is ok : It works well and is flexible, can be fast if configured adequately on a separate instance, has a non friendly documentation, and is less good than the best DOM (IMO : Jigsaw DOM on Ninja). My "evaluation" is that Sierra Chart for charting+programming and Jigsaw DOM is better than All sierra. Regarding the data feed I use IQFeed and consider trying sierra data feed next year. Again thank you for your help, problem solved. W.

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