Hi,
If 'Optimize Order Flow' is ON, will the activation of a trailing stop (via SetDollarTrailing or SetPercentTrailing) result in modification (e.g. ModifyOrder in the IB TWS audit trail) of an already-in-the-market stop loss order?
Exit Order Keyword Interaction
- Henry MultiСharts
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Re: Exit Order Keyword Interaction
Yes, I have read and studied that. Frankly, I find it a bit confusing, and I can't even tell for sure if what is being described there has anything to do with my question or not.
As I'm thinking of it, there are potentially 3 interacting components that might be relevant to my question: 1) the PowerLanguage keyword behavior, 2) default order engine processing 3) the exact differences between having Optimize Order Flow On or Off.
Perhaps I am not thinking of it correctly, but that is why I'm asking. If I could get a direct, authoritative answer to my exact question I would really appreciate that.
As I'm thinking of it, there are potentially 3 interacting components that might be relevant to my question: 1) the PowerLanguage keyword behavior, 2) default order engine processing 3) the exact differences between having Optimize Order Flow On or Off.
Perhaps I am not thinking of it correctly, but that is why I'm asking. If I could get a direct, authoritative answer to my exact question I would really appreciate that.
- Henry MultiСharts
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Re: Exit Order Keyword Interaction
Hello MC_Prog,
I apologize for the delay in responding. With "Optimize Order Flow" = ON: If TrailingStop has the price that is more likely to be filled depending on the current market price then the StopLoss will be cancelled and the TrailingStop will be placed. There will be no order modification.
I apologize for the delay in responding. With "Optimize Order Flow" = ON: If TrailingStop has the price that is more likely to be filled depending on the current market price then the StopLoss will be cancelled and the TrailingStop will be placed. There will be no order modification.
Re: Exit Order Keyword Interaction
Thanks Henry. No order modification, got it. (And that's important to know)
So would the sequence on that be:
1. Request cancel of existing order
2. Wait for cancel to be acknowledged
3. Place the new order
Also, can you explain about "most likely to be filled" in this case. I ask because the newly desired trailing stop order is always closer to the current market and will always thus be triggered and fillable before the original, farther away, stop loss order.
So would the sequence on that be:
1. Request cancel of existing order
2. Wait for cancel to be acknowledged
3. Place the new order
Also, can you explain about "most likely to be filled" in this case. I ask because the newly desired trailing stop order is always closer to the current market and will always thus be triggered and fillable before the original, farther away, stop loss order.
- Henry MultiСharts
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Re: Exit Order Keyword Interaction
MC_Prog,
The sequence should be the following:
1. Request cancel of existing order
2. Place the new order
3. Wait for cancel to be acknowledged - this event comes asynchronously, so it can be before or after #2.
Yes, "most likely to be filled" = "closer to the current market and fillable before the original".
The sequence should be the following:
1. Request cancel of existing order
2. Place the new order
3. Wait for cancel to be acknowledged - this event comes asynchronously, so it can be before or after #2.
Yes, "most likely to be filled" = "closer to the current market and fillable before the original".