OSO orders

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larssan
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OSO orders

Postby larssan » 08 Jun 2011

Hi,

Is it possible to use OSO orders with MC ?
As when one order is filled it creates another order.

I found OCO but no OSO...

Regards, Lars

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Stan Bokov
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Re: OSO orders

Postby Stan Bokov » 09 Jun 2011

OSO, which is an abbreviation for Order-Sends-Order. According to TS's website - Automatically have protective stop orders and/or target limit orders sent when you place an order. With OSO orders you will be able to place two or more orders whereby if the primary order is filled, the secondary order(s) will be sent to the market.

(http://webcache.googleusercontent.com/s ... google.com)

MultiCharts already does this, it tracks orders locally, and when one is filled, another one is sent. You can do this with your strategies, and you can see it with manual trading (when you apply some entry or exit strategies, some orders are solid colored and some are transparent. The transparent orders are conditional upon the solid colored orders executing)

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larssan
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Re: OSO orders

Postby larssan » 09 Jun 2011

Hi,

So I need to make my own code for this ?

It's not a built in feature in MC ?
As the OCO order are. I'ts called BRK (Breakout Strategy) in MC.

My idea was a similar feature but instead of closing the "Held" order it creates it...

I think almost all broker software has both OCO and OSO.

/Lars

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Re: OSO orders

Postby Stan Bokov » 09 Jun 2011

Lars,

It's a built-in feature, the conditional orders. You can see them when you apply manual trading strategies, i.e. if this order happens send another one. Try submitting a limit order, and then attaching bracket orders to them. Bracket orders will not become active until the Limit order is filled - OSO.

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Re: OSO orders

Postby larssan » 09 Jun 2011

Thanks for the quick answer, that was almost was I was looking for.
But I don't want to create two new orders, only one.

So I tried to attach a "Stop Loss" but it was not possible to put in price, only pip and %.

But ok, it's possible to calculate the no. of pips every time you put in an order.

Is there a reason for that you can't enter a specific price in "Stop Loss" but you can do it in "Bracket" ?

Also is there a reason that you can put in all figures before you place the order when using "BRK" (OCO) option, but when you use OSO you need to add the OSO orders after the first order is in the market ?

/Lars

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Re: OSO orders

Postby larssan » 15 Jun 2011

Hello,
Some follow up questions.

1.
Is there a reason/limitation for that you can't enter a specific price in "Stop Loss" but you can do it in "Bracket" ?

2.
Is there a reason/limitation for that you can put in all figures before you place the order when using "BRK" (OCO) option, but when you use OSO you need to add the OSO orders after the first order is in the market ?

3. Today I used the "Stop Loss" function.
I put in a stop buy order and attached a "Stop Loss".
Everything looked ok, the buy stop was shown and the connected Stop Loss was dimmed.
But when the Buy stop was hit and I was long 1 contract the stop loss was for 2 contracts.
So if it were to be hit I would be short one contract instead of flat.
Do you understand why ?

Regards, Lars

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Re: OSO orders

Postby Stan Bokov » 15 Jun 2011

Thanks for the quick answer, that was almost was I was looking for.
But I don't want to create two new orders, only one.

So I tried to attach a "Stop Loss" but it was not possible to put in price, only pip and %.

But ok, it's possible to calculate the no. of pips every time you put in an order.

Is there a reason for that you can't enter a specific price in "Stop Loss" but you can do it in "Bracket" ?
From the trade panel you can drag it visually to the point on the chart that you like, or you can enter a precise Stop price from the Trade Bar (see attached screenshot).
Also is there a reason that you can put in all figures before you place the order when using "BRK" (OCO) option, but when you use OSO you need to add the OSO orders after the first order is in the market ?
It was designed that way...
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Stop_price.png
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Stan Bokov
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Re: OSO orders

Postby Stan Bokov » 15 Jun 2011

3. Today I used the "Stop Loss" function.
I put in a stop buy order and attached a "Stop Loss".
Everything looked ok, the buy stop was shown and the connected Stop Loss was dimmed.
But when the Buy stop was hit and I was long 1 contract the stop loss was for 2 contracts.
So if it were to be hit I would be short one contract instead of flat.
Do you understand why ?
I don't really understand what you did - you applied a sell stop order to a buy stop order? Can you explain and post some screenshots?

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Re: OSO orders

Postby larssan » 15 Jun 2011

I try to explain better:

1. I put in a buy stop order for 1 contract. (Drag in "STP")
2. I right click the order and choose "Attach Exit Strategy" => "Stop Loss" => "Place Strategy"
3. Now one buy stop is submitted and one sell stop is inactive until the buy stop is filled.
4. Buy stop (from point 1 above) is filled.
5. Stop Loss order (from point 2 above) is submitted for 2 contracts.
My expectation was that the Stop Loss would be submitted for 1 contract.
Same amount of contracts as the order it was attached to.

Or am I missing something ?

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Re: OSO orders

Postby Stan Bokov » 15 Jun 2011

Thank you for the detailed and clear explanation. I followed all of your steps, but I get my Stop Loss strategy (that places a Sell Stop order) placing just one contract. See attached screenshot.

I as unable to reproduce it. Please come to our Live Chat and show us the issue.
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Re: OSO orders

Postby larssan » 15 Jun 2011

Ok, thanks for the quick answer.

I have tried this on a Demo account and it always worked as you described.
Order for 1 contract creates a stop for 1 contract.

Today I tried to trade with MC for the first time with my regular live account.
Then the stop was doubled to 2 contracts.
(I had to manually change from 2 to 1 after if was submitted)

I'll keep trading with MC and will contact support if it happens again.

Thanks!

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Re: OSO orders

Postby Stan Bokov » 15 Jun 2011

If you are dealing with IB it could be related to this issue - https://www.multicharts.com/pm/viewissu ... _no=MC-214

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Re: OSO orders

Postby larssan » 15 Jun 2011

I use Open E Cry.

I tried it two more times and the stop is always twice the initial order.
If the stop is hit I'm short one instead of flat.

Some other issues I have found:
1. When canceling an order it from time to time freezes in "PreCanceled" mode and is still valid.
2. When moving an order on the chart it sometimes freezes in "PreModified" mode and can't be moved or removed.
3. The "Stop Loss"* sometimes disappears when moving it on the chart.

I've just started to "try out" trading with MC as I plan to switch to Patsystems and trade solely on MC.
Do you know if these issues depends on the broker ?
Could MC be OK trading with when using Patsystems instead of OEC ?

Edit: I can confirm that the issues are only for "Live" accounts.
When using a "Demo" account everything works as it should.


*By "Stop Loss" I mean the OSO order created like this:
Right click a submitted order and choose "Attach Exit Strategy" => "Stop Loss" => "Place Strategy"

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Re: OSO orders

Postby Stan Bokov » 16 Jun 2011

I use Open E Cry.

I tried it two more times and the stop is always twice the initial order.
If the stop is hit I'm short one instead of flat.

Some other issues I have found:
1. When canceling an order it from time to time freezes in "PreCanceled" mode and is still valid.
2. When moving an order on the chart it sometimes freezes in "PreModified" mode and can't be moved or removed.
3. The "Stop Loss"* sometimes disappears when moving it on the chart.

I've just started to "try out" trading with MC as I plan to switch to Patsystems and trade solely on MC.
Do you know if these issues depends on the broker ?
Could MC be OK trading with when using Patsystems instead of OEC ?

Edit: I can confirm that the issues are only for "Live" accounts.
When using a "Demo" account everything works as it should.


*By "Stop Loss" I mean the OSO order created like this:
Right click a submitted order and choose "Attach Exit Strategy" => "Stop Loss" => "Place Strategy"
When this happens, please make a short video, and send us your logs to support@multicharts.com - we will investigate what's going on here.

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Re: OSO orders

Postby larssan » 21 Jun 2011

I was in contact with the online support and they have investigated and found the issue.
It will be corrected in the MC7 Beta5 release.

I would like to take the opportunity to thank you for this great software.
After used almost all of the major competitors software I can easily say that MC are way ahead in all aspects.

Lars

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Re: OSO orders

Postby TJ » 21 Jun 2011

I was in contact with the online support and they have investigated and found the issue.
It will be corrected in the MC7 Beta5 release.

I would like to take the opportunity to thank you for this great software.
After used almost all of the major competitors software I can easily say that MC are way ahead in all aspects.

Lars
Thanks for keeping us posted.
Much appreciated.

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Re: OSO orders

Postby arjfca » 19 Aug 2011

OSO, which is an abbreviation for Order-Sends-Order. According to TS's website - Automatically have protective stop orders and/or target limit orders sent when you place an order. With OSO orders you will be able to place two or more orders whereby if the primary order is filled, the secondary order(s) will be sent to the market.

(http://webcache.googleusercontent.com/s ... google.com)

MultiCharts already does this, it tracks orders locally, and when one is filled, another one is sent. You can do this with your strategies, and you can see it with manual trading (when you apply some entry or exit strategies, some orders are solid colored and some are transparent. The transparent orders are conditional upon the solid colored orders executing)
Hello Stan

I don't found any reference in MC on how to code for "OSO" orders. Function "PlaceOrder" is available in Easylanguage for TS, but it is not in use in MC

Any help appreciated
Martin


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