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Open Feature request MC-1497 » Open Feature request MC-1027

Don't cancel pending stop-loss orders with additional entry orders
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Description

In MC8 stop-loss orders are cancelled when an additional entry order is given. This works currently as following:

1) The position is opened with the entry order ('EL #1'),
2) A stop-loss is submitted for this entry order,
3) An additional entry ('EL #2') is triggered,
4) Now, the original stop-loss order for the first part of the position ('EL #1') is cancelled,
5) The cancelled stop-loss is immediately resubmitted (with same quantity and same price!) and a stop-loss order for the second entry is submitted.

This is problematic because of two reasons. First, the trader loses his position in the order queue with the needless cancellation of the original stop-loss order. Secondly, certain exchanges (like Eurex) charge cancellation fees. Since all open stop-loss orders are cancelled when an additional entry order is placed, these additional fees can quickly add up.

This behavior is confirmed by MC support since 'at the moment it is not possible to send the price order(limit/stop) simultaneously with a market one. Unfilled price orders are to be cancelled. If the number of sent price orders changes - unfilled price orders are to be cancelled.'

Suggestion: keep the pending stop-loss orders active when an additional entry is submitted.

Steps to reproduce this issue

n/a

Comments (1)
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#0
user-offline.png MultiCharts Support (MultiCharts)
Oct 15, 2013 - 12:42

Please read this: http://www.multicharts.com/pm/viewissue.php?issue_no=MC-1497

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Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    Not determined
  • Status
    Postponed
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
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  • Severity
    Critical
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