Support Board
Date/Time: Fri, 29 Nov 2024 04:34:54 +0000
Feature Request: Cancel Last Order with Keyboard Shortcut
View Count: 540
| [2023-02-26 16:44:46] |
| User652903 - Posts: 25 |
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Hi team, This feature is very needed. Here is the use case: Suppose you’re in a long position with multiple contracts with an OCO Stop+Target bracketing the entire position. You want to start scaling out using limit orders only without touching the mouse. Currently not possible. You can send the order with the keyboard but not cancel it. To send it, you can use one of the currently existing keyboard shortcuts e.g., “Sell Ask + 2”. But if you don’t get filled, there is no way to cancel that order with the keyboard, other than by cancelling all of your sell orders – including your OCO target on the entire position, which is not the goal. So the only option is to reach for the mouse and click [X] out of it, which is too slow for fast contexts. So the functionality “Cancel Last Order” with keyboard shortcut support is needed to enable precise keyboard control when scaling in/out, in the context of a working a larger position. Is this something that you guys could please drop in the next update? If so, it will be used everyday. Thank you in advance EDIT: If you're able to do this without too much headache, "Last Order Tick Up" and "Last Order Tick Down" in the Trading Keyboard Shortcut list would be equally (and amazingly) helpful. Functionality is identical to "Target Order Tick Up/Down" and "Stop Order Tick Up/Down", which already exist, but the new command would only effect the Last Open Order sent. Use case is a variation of the above example (e.g., looking to scale out but not filled, can move the last order up/down without effecting larger bracket or needing to reach for the mouse). Would be so useful. Thanks again Date Time Of Last Edit: 2023-02-26 18:27:18
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| [2023-03-02 04:47:37] |
| User900285 - Posts: 94 |
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Hello, I will try to provide a few examples of some potential workarounds for your situation. The first thing to be aware of is that if you are submitting an extra unattached order that is meant to reduce your existing position size, this does pose a small risk. The risk is that if you lose client side connectivity while you have one of these scale out orders working. The scale out order will be filled and the bracket orders surrounding your position will not adjust their quantities to your new position size. This is because the scale out feature in Sierra Chart is a client side feature, it will not work if you are disconnected. In a real-life scenario this is probably a very small risk but if you are working with large positions and scaling out sizable chunks at a time. A loss of connectivity could expose you to the potential of a partially reversed position. In the case that your scale out order is filled, the brackets do not adjust their quantity, and the market then moves to fill one of your bracket orders. You will have a partially reversed position that was not originally intended. Here is one way to get around this if you are working with multiple contracts and scaling out. 1. Disable the Scale In feature in the Chart Trade Window, so that when you enter your positions, you can have multiple target and stop orders all in their own OCO groups. 2. An alternative to this is if you do not scale in to a position, configure your Trade Window Configuration to have multiple separate target orders, each are matched with a stop on the other side. Either way you will now have multiple target orders. 3. The next step will be finding a way to move those individual target or stop orders with 1 button, in order to scale out of your position. There is one solution that already exists which is a custom study shown in this video: https://www.youtube.com/watch?v=dBVuaFOiNt8 With this custom study combined with the use of multiple separate target orders, you can move one target or stop order at a time with 1 press of a button, to the price you desire. However you will need to be hovering your mouse pointer over the price that you want the order to be moved to. This solution is theoretically safer than the one you described, because at any moment if you were to experience a loss of connectivity there will always be an equal number of target and stop OCO orders. If one target is filled, the associated stop will immediately be cancelled off, and vice versa. Now if you insist that this method is not right for you and you understand the risk associated with your original plan. It is possible to create a study that cancels the most recently submitted unattached limit order, upon pressing an advanced custom study button. I could do this for you. Regarding this: If you're able to do this without too much headache, "Last Order Tick Up" and "Last Order Tick Down" in the Trading Keyboard Shortcut list would be equally (and amazingly) helpful.
There is "Non Attached Limit Order Tick Up/Down" which does exactly what you are asking. It only moves the nearest unattached limit order. So if you submit a scale out order not far from the last traded price, using those already existing keyboard shortcuts should do what you are asking. Hope it helped. Date Time Of Last Edit: 2023-03-02 04:52:33
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| [2023-03-02 11:19:55] |
| User652903 - Posts: 25 |
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Super helpful, thank you. Let me take a look at this video (which I think I've seen before but had forgotten!) That may be a workaround since the Sierra team doesn't seem overly interested in building this into the main software. |
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