I am using the following code for my stoploss and takeprofit but it may be causing a problem with TopStepTrader. Is there any alternative to it?
Code: Select all
SETPROFITTARGET (ProfitTarget*NumberOfContracts) ;
SETSTOPLOSS (StopLoss*NumberOfContracts) ;
TopstepStrader is only allowing me to trade a maximum of 5 lots and all my orders are based on limit orders. For some reasons, Rithmic (TopStepTrader) is rejecting my order and causing my auto trading script to shut down after 100 rejection (Rejected at RMS).
Case 1. If I placed a limit order to buy 2 lots at xzy price, if the price does not hit the limit price, then I am not in the market. This should be counted as zero trading lots since I am not holding any positions.
Case 2. I am long the market with 2 buy lots, then the number of contracts for me is 2 lots since I am holding a position with 2 lots.
Case 3. I am long the market with 2 lots, and I have a stop loss limit of 2 lots and also have a take profit limit of 2 lots. Does this situation count as 6 lots with MC and my SL and TP coding? If the price goes up, it will hit my profit limit of 2 lots and I would have zero lot opens. Being that the profit limit was taken place, the stoploss limit would be voided/cancelled since there is no longer a trade to stoploss. If the price goes down, it would hit my stoploss and I would have zero lots open. The take profit limit would be voided/cancelled since there is no longer a trade to takeprofit.
Case 4. I am long the market with 2 lots, and I have a stop loss limit of 2 lots and also have a take profit limit of 2 lots. I then place a reverse sell limit (reverse position) of 4 lots. Does this count as 10 lots? The situation here is that I am only holding 2 long lots. If the reverse sell limit is hit, my 2 lots long are turned to 2 lots sell and I would have 2 lots short position in the market. My stoploss and take profit limit for the buy position are voided/cancelled since I am no longer in a buy trade. A new stop loss and takeprofit will be entered for the new 2 lots short.
From the cases above, I am not exceeding TopStepTrader 5 lots limit. Unless my code or MC platform is doing something strange. See attached, rejected at RMS message.