Emulate Limit orders ...... hack?  [SOLVED]

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wilkinsw
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Emulate Limit orders ...... hack?

Postby wilkinsw » 19 Jul 2017

I like the in built option of being able to emulate stop and stoplimit orders locally.

I am also very interested in trying to emulate limit orders locally too. I've got some ideas as to how this might be done without IOG enabled.


First I need clarification on the behavior of certain features within Multicharts:



1) Rejected stop orders triggering the "convert unexecuted limit/stop entry orders to market orders" function.

-With "convert unexecuted limit/stop entry orders to market orders" how would that handle a stop order rejected by the broker? If price is 105 and I submit a buy stop of 104 the CME/CQG gateway rejects it as it is below 105. However in Multicharts the chart (in AA mode) sees that as a fill at 105.

-Therefore, I assume that even though the order might be rejected, Multicharts will trigger the "convert unexecuted limit/stop entry orders to market orders"?

-Would that also apply in SA mode?


2) Which part of a STOPLIMIT order triggers the "convert unexecuted limit/stop entry orders to market orders" function? Stop or limit price parameter?

If it is the limit price parameter AND if rejected orders can trigger "convert unexecuted limit/stop entry orders to market orders" function then I'm wondering If I can emulate buy limit orders locally by submitting a buy stoplimit order designed to both be immediately rejected but triggered (as soon as entry condition=true) from the POV of MC, but then have a limit component that is well below the stop price and is our actual desired price that we are happy to wait for. In which case as soon as the limit component is touched (even if it is a rejected order), MC will buy at market.

Let me know your thoughts.

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Anna MultiCharts
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Re: Emulate Limit orders ...... hack?  [SOLVED]

Postby Anna MultiCharts » 19 Jul 2017

Hello, wilkinsw!

Orders that have final status (filled, cancelled, rejected) cannot be converted.
In the AA mode the countdown for conversion starts when an order is placed on the chart and submitted to the broker.
In the SA mode the countdown starts after an order has been submitted to the broker.
In any case, orders that have received final status cannot be modified in any way.

wilkinsw
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Re: Emulate Limit orders ...... hack?

Postby wilkinsw » 19 Jul 2017

Gotya. Thanks for clarifying. Looks like I'll be needing IOG then.


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