[FeatureRequest] Don't cancel pending stop-loss orders

Questions about MultiCharts and user contributed studies.
User avatar
JoshM
Posts: 2100
Joined: 20 May 2011
Location: The Netherlands
Has thanked: 1526 times
Been thanked: 1507 times
Contact:

[FeatureRequest] Don't cancel pending stop-loss orders

Postby JoshM » 26 Jun 2012

Currently it's not possible to submit an additional entry order for an open position without cancelling the pending stop-loss orders.

For example, with this strategy:

Code: Select all

[IntraBarOrderGeneration = TRUE]

if (MarketPosition(0) = 0) then
Buy ("EL #1") 1 contracts next bar at market;

if (MaxEntries(0) < 2) and barssinceentry(0) = 2 then
Buy ("EL #2") 1 contracts next bar at market;

if (MarketPosition(0) = 1) then begin

Sell ("XL SL #1") all contract from Entry("EL #1") next bar at entryprice-15 stop;
Sell ("XL SL #2") all contract from Entry("EL #2") next bar at entryprice-15 stop;
end;
The stop-loss order for the first entry is cancelled when the second entry occurs. Even when the stop-loss order doesn't change (same quantity, same price). I was (am) surprised by this behaviour and, judging from the response time, the MC engineers also assumed there was a problem/bug.

However, this behaviour is confirmed by MC Support as 'normal' and 'working as it should', since
"(..) at the moment it is not possible to send the price order(limit/stop) simultaneously with a market one. Unfilled price orders are to be cancelled. If the number of sent price orders changes – unfilled price orders are to be cancelled."
This is unwanted for the following reasons:
  • It leads to a loss in the order queue for the stop-loss orders with every additional entry. This heightens the possibility of additional slippage when the stop-loss order is executed.
  • Certain exchanges, like Eurex, charge fees for cancellation of orders. This default behaviour of MultiCharts quickly ramps up those fees.
Please vote for it here:
Thanks. :)

vking
Posts: 235
Joined: 21 May 2009
Has thanked: 51 times
Been thanked: 41 times

Re: [FeatureRequest] Don't cancel pending stop-loss orders

Postby vking » 26 Jun 2012

Josh - Though this is not an exact replica - it is similar to pending request.

thanks.

thread: viewtopic.php?f=1&t=8810

earlier PM request: https://www.multicharts.com/pm/viewissu ... _no=MC-454 ( which is only partially implemented)

Pending PM request: https://www.multicharts.com/pm/viewissu ... _no=MC-930

User avatar
JoshM
Posts: 2100
Joined: 20 May 2011
Location: The Netherlands
Has thanked: 1526 times
Been thanked: 1507 times
Contact:

Re: [FeatureRequest] Don't cancel pending stop-loss orders

Postby JoshM » 26 Jun 2012

Thanks Vking. I had already voted for your PM's and added them to my watchlist, but didn't knew they were related.

Well, the more reason to quickly implement a solution. :)


Return to “MultiCharts”