Difference between revisions of "Reasons of Order Rejection"

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It is a common situation when a customer expects an order to be and executed when it is sent from MultiCharts, however it can be rejected because of incorrect settings in MultiCharts or because of a not met requirement of your broker.  
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Orders can get rejected due to incorrect settings, or if they don’t meet broker requirements.<br>
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To find the rejection reason, check the [[Order and Position Tracker]] -> [[Order_and_Position_Tracker#Logs_Tab|Logs]] tab.<br>
  
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In most cases you can find the reason of rejection on Logs tab of Order and Position Tracker (see [[Order and Position Tracker|Logs Tab]]). Below are the most common reasons for rejections, their description and a explanation how a customer can fix them to make the order successfully submitted to the broker.
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Below you can see the most common reasons and their solutions.<br>
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If you do not find the received rejection reason in this guide, most likely, you’ll need to contact your broker for more info about your order.
  
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=== No Security Definition Has Been Found For This Request ===
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== No security definition has been found for this request ==
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This rejection message occurs when user has incorrect [[Symbol Mapping]] settings.
 
  
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Since MultiCharts can work with multiple data feeds and brokers, and most of these have an unique instrument symbology and a set of required parameters for a correct order placement, there is a way the software can automatically set up correct symbol mapping between same symbols from different sources with different names and exchanges.  
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This rejection message occurs due to incorrect symbol and/or symbol mapping settings.<br>
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[[Operating_Symbol_List#Adding_Symbol_from_Data_Vendor_Supplied_List|Re-add symbols from data source]] and/or follow the [[How to Set Up Symbol Mapping]] guide.  
  
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However, symbol mapping should be set up manually if the data source of the chart symbol and brokerage of the broker symbol are different.
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<div style="background-color: #E3FBE5;">'''Note''': Symbol mapping between the IB symbol on the chart and the IB symbol at the broker is set up automatically and correctly only if you have added the symbol via symbol lookup (see [[Data Sources Overview|Adding Symbol from Data Vendor Supplied List]]).</div>
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<div style="background-color: #E5F6FF;">'''Example''': @ES from IQFeed -> ESU2 from IB </div>
 
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<div style="background-color: #E3FBE5;">'''Note''': Symbol mapping between IB symbol on chart and IB symbol at broker is set up automatically correct way only if you have added the symbol by means of symbol lookup (see [[Data Sources Overview|Adding Symbol from Data Vendor Supplied List]]).</div>
 
  
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=== The Price Does Not Conform To The Minimum Price Variation For This Contract ===
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== The price does not conform to the minimum price variation for this contract ==
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This rejection message occurs when user has incorrect combination of Price Scale and Min. Movement in [[Setting Properties#Editing an existing symbol properties|symbol's settings]].
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This rejection message occurs due to incorrect Price Scale and Min. Movement in the [[Setting Properties#Editing an existing symbol properties|symbol's settings]].<br>
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In this case, orders can be sent with a price that is not accepted by the broker, since for this particular symbol there is no such price.
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<div style="background-color: #E5F6FF;">'''Example''': You cannot place an order to buy at 1,650.01 for ES symbol, since the nearest available prices for this symbol are 1,650.00 and 1,650.25.</div>
  
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If settings are not correct, an order can be sent with a price that is not accepted on broker end, because for this particular symbol there is no such price.
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=== Data source = broker ===
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<div style="background-color: #E5F6FF;">'''Example''': You cannot place an order to buy at 1,650.01 for ES symbol, since the nearest available prices for this symbol are 1,650.00 and 1,650.25.<div>
 
  
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In order to resolve the issue, please follow next steps:
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In most cases correct symbol parameters are provided by the data source, so the issue can be resolved by [[Operating_Symbol_List#Adding_Symbol_from_Data_Vendor_Supplied_List|re-adding the symbol from the data source]] and creating a new chart for it.<br>
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# Find out how the symbols updates.<div style="background-color: #E5F6FF;">'''Example 1''': If symbol's prices changes from XXX.00 to XXX.05, it means the Price Scale should be 1/100 and the Min. Movement should be 5.<div><div style="background-color: #E5F6FF;">'''Example 2''': If symbol's prices changes from X.123450 to X.123460, it means the Price Scale should be 1/1000000 and the Min. Movement should be 10; or the Price Scale should be 1/100000 and the Min. Movement should be 1.<div>
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# Open QuoteManager.
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But if the provided parameters lead to order rejection, they can be adjusted manually in QuoteManager: double-click the symbol -> Settings tab.  
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# Find the symbol you are trading and make a right-click on it -> Edit Symbol...
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<div style="background-color: #E5F6FF;">'''Example 1''': If the symbol's price changes from XXX.00 to XXX.05, it means that the Price Scale should be 1/100 and the Min. Movement should be 5.<br>'''Example 2''': If symbol's prices changes from X.123450 to X.123460, it means the Price Scale should be 1/1000000 and the Min. Movement should be 10; or the Price Scale should be 1/100000 and the Min. Movement should be 1.</div>
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# Click on Settings tab and select correct Price Scale and Min. Movement. Click OK.<div style="background-color: #E3FBE5;">'''Note''': If the data sources are different, for example IQFeed is used for charting and IB is the broker. Both symbols representing the same security from these data providers should configured in QuoteManager.</div>
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After adjusting the settings, open a new chart for the symbol.<br>
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# Close MultiCharts and all its products. Make sure all [[MultiCharts Processes|MC processes]] are off.
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# Restart MultiCharts.
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=== Data source ≠ broker ===
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# Plot the symbol on chart. Reload the chart by pressing CTRL+R.
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# Connect required broker profile and open Symbol Mapping settings by making a right-click on the broker profile in Trade Bar and selecting Symbol Mapping...
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If you use [[How_to_Set_Up_Symbol_Mapping|symbol mapping]], you'll need to make sure that chart symbol parameters match broker symbol parameters:
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# [[Symbol Mapping#Configure Chart Symbol|Manually reset chart and broker symbols]] in all lines where this particular symbol symbol is used.
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# If new order is placed with incorrect price, it price will be rounded to nearest accepted value.
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# [[Operating_Symbol_List#Adding_Symbol_from_Data_Vendor_Supplied_List|Re-add both chart and broker symbols from data source]]. If manual adjustments are required, please use examples above.
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# In QuoteManager double-click the broker symbol -> '''Settings''' tab<br>Write down / remember/ take a screenshot of the Instrument Settings: '''Price Scale''', '''Min. Movement''', '''Big Point Value'''. Click '''OK'''
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# Double click the chart/data source symbol -> '''Settings''' tab<br>Set the '''Price Scale''', '''Min. Movement''', '''Big Point Value''' same way they are set for your broker instrument. Click '''OK'''
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# Disconnect the broker profile
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# Delete symbol mapping lines for the problematic symbol and [[How_to_Set_Up_Symbol_Mapping|re-configure symbol mapping]]
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# Open a new chart for the symbol
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If a new order is placed with an incorrect price, its price will be rounded to the nearest acceptable value.
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== Invalid order parameters: Account field is empty ==
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This rejection message occurs when no account is selected in '''Strategy Properties''' or on the '''Chart Trading Panel'''.
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Trading accounts are selected separately for manual and auto trading.
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* For auto trading please go to '''Format''' -> '''Strategy Properties''' -> '''Auto trading tab''' -> '''Broker Plug-in''' section. Make sure your broker is selected there, then click the gear icon. It might be required to look up/specify the account number depending on your broker there.
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* For manual trading you need to select the account on the '''Chart Trading Panel''' in the '''Account Selector'''.
  
 
[[Category:FAQ]]
 
[[Category:FAQ]]

Latest revision as of 13:21, 31 May 2023

Orders can get rejected due to incorrect settings, or if they don’t meet broker requirements.
To find the rejection reason, check the Order and Position Tracker -> Logs tab.

Below you can see the most common reasons and their solutions.
If you do not find the received rejection reason in this guide, most likely, you’ll need to contact your broker for more info about your order.

No security definition has been found for this request

This rejection message occurs due to incorrect symbol and/or symbol mapping settings.
Re-add symbols from data source and/or follow the How to Set Up Symbol Mapping guide.

Note: Symbol mapping between the IB symbol on the chart and the IB symbol at the broker is set up automatically and correctly only if you have added the symbol via symbol lookup (see Adding Symbol from Data Vendor Supplied List).

The price does not conform to the minimum price variation for this contract

This rejection message occurs due to incorrect Price Scale and Min. Movement in the symbol's settings.
In this case, orders can be sent with a price that is not accepted by the broker, since for this particular symbol there is no such price.

Example: You cannot place an order to buy at 1,650.01 for ES symbol, since the nearest available prices for this symbol are 1,650.00 and 1,650.25.

Data source = broker

In most cases correct symbol parameters are provided by the data source, so the issue can be resolved by re-adding the symbol from the data source and creating a new chart for it.

But if the provided parameters lead to order rejection, they can be adjusted manually in QuoteManager: double-click the symbol -> Settings tab.

Example 1: If the symbol's price changes from XXX.00 to XXX.05, it means that the Price Scale should be 1/100 and the Min. Movement should be 5.
Example 2: If symbol's prices changes from X.123450 to X.123460, it means the Price Scale should be 1/1000000 and the Min. Movement should be 10; or the Price Scale should be 1/100000 and the Min. Movement should be 1.

After adjusting the settings, open a new chart for the symbol.

Data source ≠ broker

If you use symbol mapping, you'll need to make sure that chart symbol parameters match broker symbol parameters:

  1. Re-add both chart and broker symbols from data source. If manual adjustments are required, please use examples above.
  2. In QuoteManager double-click the broker symbol -> Settings tab
    Write down / remember/ take a screenshot of the Instrument Settings: Price Scale, Min. Movement, Big Point Value. Click OK
  3. Double click the chart/data source symbol -> Settings tab
    Set the Price Scale, Min. Movement, Big Point Value same way they are set for your broker instrument. Click OK
  4. Disconnect the broker profile
  5. Delete symbol mapping lines for the problematic symbol and re-configure symbol mapping
  6. Open a new chart for the symbol

If a new order is placed with an incorrect price, its price will be rounded to the nearest acceptable value.

Invalid order parameters: Account field is empty

This rejection message occurs when no account is selected in Strategy Properties or on the Chart Trading Panel. Trading accounts are selected separately for manual and auto trading.

  • For auto trading please go to Format -> Strategy Properties -> Auto trading tab -> Broker Plug-in section. Make sure your broker is selected there, then click the gear icon. It might be required to look up/specify the account number depending on your broker there.
  • For manual trading you need to select the account on the Chart Trading Panel in the Account Selector.
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