Support Board
Date/Time: Fri, 31 Jan 2025 00:14:09 +0000
My stop got cancelled during a volatile market move
View Count: 749
| [2019-04-05 21:46:24] |
| User824196 - Posts: 4 |
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Hi, I started using Sierra about a week now and really like it! Today something happened though that really shook me. During today’s futures trading session there was a sudden price move upwards on YM. I had a short position order with a tight stop above, which got filled. Immediately my stop should have been hit during the pop, but it got rejected and cancelled (!). Luckily I was at my desk and could manually market out of the position. Lost about $235 for no reason. I have contacted AMP trade desk why my stop disappeared like that and they just tell me that it got rejected at the exchange. How is this possible? The whole idea of a stop is to keep my positon safe if it goes against me. If during a volatile move the stop can just be cancelled like that one could lose their whole account. What happened? I had used a simple bracket order in Sierra. I am really shocked that this can happen and feel that using the bracket order is maybe not very safe during hefty market moves. How can I be sure that this does not happen again, should I use a different kind of order instead of the simple bracket? Please see attached the trade activity log. The order that I am referring to is: 1549638990 YM time: 14:30, sell price: 26438 Stop at: 26442 Thank you Date Time Of Last Edit: 2019-04-05 21:51:48
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 tradeactivity_screengrab.jpg / V - Attached On 2019-04-05 21:51:42 UTC - Size: 1.21 MB - 256 views |
| [2019-04-05 22:12:27] |
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That is not the right order number. That is a limit order. You are referring to the stop with internal order ID 893. It was rejected probably because it was too tight. It was not at a valid price level. In other words it would have filled right away so the exchange rejected it. The solution to this is to enable this option: https://www.sierrachart.com/index.php?page=doc/GlobalTradeSettings.html#AutoSendMarketOrder More information about this is here: Attached Orders: Market Moving Quickly Beyond Stop Price Causing It to Become Invalid 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 |
| [2019-04-05 22:25:57] |
| User824196 - Posts: 4 |
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Thanks for the quick response. The stop was 4 ticks, yes it was tight, didn't count on a sudden pop like that. I have enabled 'Auto send Market Order', hope this will be a safe guard if my stop gets rejected again. Just one more question; would it be beneficial to also enable 'Use Server Side Bracket Order'? Thanks. |
| [2019-04-05 22:41:50] |
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Yes that should work reliably. Server-side bracket orders would not help because that option is not supported with the service you are using.
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 |
| [2019-04-05 22:43:56] |
| User824196 - Posts: 4 |
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Okay got ya. Thx and have a nice weekend! |
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