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Open Feature request MC-1007

Button "Close" cancels existing orders to exit

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Description

The button "Close" in the DOM window (probably also applies to all other close buttons, like in the chart trader) cancels existing orders before issuing a new order to close the position. I always have a bracket order in the market to protect a position. When I press "Close" it is often the case that the market is moving towards my stop order (which is part of the bracket). The cancellation of my bracket is a problem then because there is a delay between the cancellation of the bracket and the new market order to close the position. I have often noticed that this delay can be significant. For example, yesterday I had a delay of 7 seconds which is like an eternity in a fast moving market. That delay lead to an additional loss (beyond the stop limit) of 3 S&P points which is quite a lot. So instead of saving a few ticks on the existing stop order I lost a whopping additional 12 ticks on that trade.
To avoid this situation, I suggest that pressing the close button should reuse an existing stop order by simply changing its type from STOP to MARKET. This would have the same effect with the benefit that the position remains protected all the time.

Steps to reproduce this issue

Open a position and protect it with bracket orders.
In a fast moving market, press the close button.
The existing bracket order will be cancelled and there will be a delay before the order to close the position will be issued.
I am trading with interactive brokers. The activity log shows that the delay is on behalf of MultiCharts, not the broker.

Comments (9)
#0
user-offline.png  Alex MultiCharts (Alex MultiCharts)
Jun 20, 2012 - 09:53

Cancellation of bracket order when you click "Close" button is expected. If you want, yuo can leave a feature request, describing a different way of working.

#0
user-offline.png  TraderJ (TraderJ)
Jun 20, 2012 - 10:06

If you had read my issue description, you would have noticed that I already made a suggestion to improve the behaviour. You are free to look at my report as bug or feature request just as you like if only you would work towards improving the situation.

#0
user-offline.png  Alex MultiCharts (Alex MultiCharts)
Jun 21, 2012 - 08:39

I have turned your bug report into a feature request.

#0
user-offline.png  Alex MultiCharts (Alex MultiCharts)
May 23, 2013 - 08:36

Such sequence of actions (closing exit orders first, then placing market order to close open position) is to avoid possible overfill. If it takes too much time in your case, please come to our live chat to let our engineers connect yto your PC remotely and invetigate the issue when it can be reproduced: http://messenger.providesupport.com/messenger/tssupport.html

#0
user-offline.png  JoeTrader (Guest)
Jun 13, 2013 - 23:10

You did not read the "How to reproduce" above, did you?

#0
user-offline.png  Alex MultiCharts (Alex MultiCharts)
Jun 18, 2013 - 06:28

Hello Guest,
I did read the "How to reproduce" section and tried to reproduce the issue following the stpes described there without any successm that's why the status of the issue was changed to "Can't reproduce".
If you are able to reproduce the issue, please come to our live chat to let our operators connect to your PC remoptely and study the case on your end after you demonstrate it.

#0
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user-offline.png  JoeTrader (Guest)
Apr 10, 2014 - 06:49

I have a web page according to your description (http://www.multicharts.com/multicharts/help/videos/ # close), but I do not know why the data can not appear, I MetaTrader open DDE service, you can give remote online consulting?

#0
user-offline.png  JoeTrader (Guest)
Apr 10, 2014 - 06:52

I have a web page according to your description (http://www.multicharts.com/multicharts/help/videos/ # close), but I do not know why the data can not appear, I MetaTrader open DDE service, you can give remote online consulting?

#0
user-offline.png  Alex MultiCharts (Alex MultiCharts)
Apr 10, 2014 - 07:06

Please come to our live chat during working hours (6:30 am - 2:45 pm EST) to let our operators connect to your computer remotely in order to study the issue and help you: http://messenger.providesupport.com/messenger/tssupport.html

History
Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    Not determined
  • Status
    Can't Reproduce
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (3)
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
  • Severity
    Normal
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