Auto Trading setting - Unfilled Strategy Order Replacement

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kiyi0317
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Auto Trading setting - Unfilled Strategy Order Replacement

Postby kiyi0317 » 13 Apr 2016

dear all,

hope you can help me out, I using IB + MC for auto trade. I always submit limit orders for entrys and exits. understand that it may not be filled when price run away. but I know MC has a function "Unfilled Strategy Order Replacement" and replace unexecuted limit orders to market orders by designed seconds.

I checked the box for both entry and exit orders. but it seems not function at all. for example, I checked the box and set to convert market order in 60s. but then the price is run away to the limit orders. and the bar was closed after submitted the limit order in 7mins and the limit order has been cancelled. According to the setting, I assume that market order should be replace the limit order after 60s (limit order created at bar open). but it was not happen.

is it anything that I was missing? how to make it work?

brgds
Chan

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Henry MultiСharts
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Re: Auto Trading setting - Unfilled Strategy Order Replaceme

Postby Henry MultiСharts » 13 Apr 2016

Hello Chan,

I believe there is some misunderstanding. Please study how these options work:
https://www.multicharts.com/trading-sof ... eplacement

kiyi0317
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Re: Auto Trading setting - Unfilled Strategy Order Replaceme

Postby kiyi0317 » 13 Apr 2016

I may not fully understand the meaning of such description. simply to say, limit order convert to market order function is not available, just my misunderstand??

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Re: Auto Trading setting - Unfilled Strategy Order Replaceme

Postby Henry MultiСharts » 13 Apr 2016

When "Unfilled Strategy Order Replacement" is used - stop or limit order can be converted into market only if ask or bid hit the order but it was not executed within specified timeout.

If you want your pending order that was not hit to be cancelled and a market order to be sent - you need to stop generating the stop/limit order in the code and generate a market order.

In the next version of the platform we are going to add a feature that will allow keeping the stop/limit orders on our end and send the market order to broker when required. At the moment there is no estimated time for the release date of this version.

kiyi0317
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Re: Auto Trading setting - Unfilled Strategy Order Replaceme

Postby kiyi0317 » 14 Apr 2016

if so, once the limit order already submit to broker but it has not filled. is it possible to replace by a new market order according to coding? (my coding skill is not enough)

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Re: Auto Trading setting - Unfilled Strategy Order Replaceme

Postby Henry MultiСharts » 14 Apr 2016

kiyi0317, please see my post above that already answers this question.

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Re: Auto Trading setting - Unfilled Strategy Order Replaceme

Postby kiyi0317 » 14 Apr 2016

any key word for resubmit / replace order?

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Re: Auto Trading setting - Unfilled Strategy Order Replaceme

Postby Henry MultiСharts » 14 Apr 2016

any key word for resubmit / replace order?
There is no such command. You need to stop generating the stop/limit order in the code and generate a market order.


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