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Direct MessagesDate/Time: Wed, 08 May 2024 11:39:00 +0000
Requesting OCO advice
View Count: 1030
| [2019-03-12 10:27:10] |
| User19165 - Posts: 346 |
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My situation is that when I am entering trades, I would like my stop and target to be submitted as an OCO. I can get Sierra to do this fine if I am trading all in / all out. However, that is not how I trade. Scenario 1 I want to enter all-in / scale-out. In this case I want to be able to have multiple targets but each attached to their own stop order. I tried to set my DOM to attached orders with a 1 lot OCO stop and target and click it more than once to get up to a 3 lot. What this did was put all 3 targets on the same price as a single order so I was unable to adjust for 3 separate targets. Scenario 2 I want to enter scale-in / scale-out. I need a solution that will accommodate both of these but allow me to move my targets independently of one another. My current situation is leaving my fearful of getting stopped out on the trade while my Internet is DC'd and then my unfilled targets are dangling - not good for my heart! |
| [2019-03-15 07:00:11] |
| User19165 - Posts: 346 |
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Please SC staff, I need a solution for this. Scale in/out trading is super common among traders, I certainly am not the only one with this deep concern and issue. Your advice would be warmly received. |
| [2019-03-21 03:20:27] |
| User19165 - Posts: 346 |
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Scaling in and out with the complete flexibility to move stops and targets independently is extremely common trade management. This basic order entry functionality is so common, that I can't believe it is not possible in Sierra. I need to be able to move targets independently of each other, but be part of an OCO group. My trading is dynamic and puts contracts on and off in several stages. Currently when I am scaling in, all my stop orders go at one price and then I am manually adding targets at various prices. The risk to me is that if the Internet goes out and my stop gets hit, all my targets are left dangling. Although this is a rare event, it can happen. My job as a trader is to control risk - please help me do that. |
| [2019-03-22 00:30:25] |
| User19165 - Posts: 346 |
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I am using Sierra charts because I thought I can do everything within Sierra: - conduct order flow analysis - use the high quality sierra data - use this data for charts and order entry information to cut down on exchange fee duplication - place orders through the DOM All this sounds excellent and are the main tick boxes I need to analyze the market and control my risk. But in reality... Your order entry is lacking with regards to the handling of OCO groupings if the trader is scaling in/out. The only way a trader can use scale in/out in its current implementation puts a big and unnecessary risk on the trader. Why can't you transparently assign a new OCO order grouping on subsequent new order fills when someone is scaling in? Currently, you are modifying the size of the existing OCO order group and now the trader cannot move the targets independently. If you did it this way, you would also need the flexibility to bulk move the stop loss orders easily which could be a simple right click "move all" feature. |
| [2019-03-22 01:07:23] |
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You are actually asking about various different things and everything is supported in Sierra Chart. We will answer some of the questions now and we will get to the others a little later. Scenario 1 This is supported by using multiple target orders at different prices. Refer to this example here:I want to enter all-in / scale-out. In this case I want to be able to have multiple targets but each attached to their own stop order. I tried to set my DOM to attached orders with a 1 lot OCO stop and target and click it more than once to get up to a 3 lot. What this did was put all 3 targets on the same price as a single order so I was unable to adjust for 3 separate targets. Attached Orders: Multiple-Bracket Example You will also want to disable the Scale In functionality: Attached Orders: Scaling In You must disable it. Based on what you describe you do not want to use that functionality. 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: 2019-03-22 01:07:46
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| [2019-03-22 09:58:49] |
| User19165 - Posts: 346 |
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Your example won't work for me. I have described my example in post #1. The size for my trade idea will vary so I cannot set out say 3 targets, when sometimes only 1 or 2 targets are needed. My lot size will be dynamic from one trade to the next. I note your point about scale in should be disabled. Counter intuitive naming of your setting, since I am scaling-in. This does mostly accomplish my concern about OCO grouping management. With this disabled, I can now enter multiple times each with their own respective stop/target - that is great! It introduces other problems listed below. - Flatten button now will pop up the trade service log with error codes and rejected order notices. It will flatten things, but this is popping up for some reason. - Another situation is how can I mass move orders on the DOM? I want to be able to move my stops around fast and easily. Is there anything like say, ctrl-click drag to move all orders on the same price? |
| [2019-03-27 08:09:09] |
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- Flatten button now will pop up the trade service log with error codes and rejected order notices. It will flatten things, but this is popping up for some reason. - Another situation is how can I mass move orders on the DOM? I want to be able to move my stops around fast and easily. Is there anything like say, ctrl-click drag to move all orders on the same price? Order Types: Move Attached Stops to Price 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 |
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