Reasons of Order Rejection

It's common for a customer to expect an order to be executed when it is sent from MultiCharts, however, it can be rejected because of incorrect settings in MultiCharts or because of a broker's requirement not being met.

In most cases you can find the reason it was rejected in the Logs tab of the Order and Position Tracker (see Logs Tab). Below are the most common reasons for rejections, their description and a explanation of how a customer can fix them to make an order be successfully submitted to a broker.

No Security Definition Has Been Found For This Request

This rejection message occurs when a user has incorrect Symbol Mapping settings.

Since MultiCharts can work with multiple data feeds and brokers, and most of these have a unique instrument symbology and a set of required parameters for a correct order placement, there is a way the software can automatically set up a correct symbol mapping between the same symbols from different sources with different names and exchanges.

However, symbol mapping should be set up manually if the data source of the chart symbol and brokerage of the broker symbol are different.

Example: @ES from IQFeed -> ESU2 from IB

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 when the user has an incorrect combination of Price Scale and Min. Movement in the symbol's settings.

If the settings are not correct, an order can be sent with a price that is not accepted on the broker's end, 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.

In order to resolve the issue, please follow these steps:

1. Find out how the symbol updates.
   Example 1: If the symbol's prices 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.
2. Open QuoteManager.
3. Find the symbol you are trading, right-click on it and select Edit Symbol...
4. Click on the Settings tab and select correct Price Scale and Min. Movement. Click OK.
   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.
5. Close MultiCharts and all its products. Make sure all MC processes are off.
6. Restart MultiCharts.
7. Plot the symbol on chart. Reload the chart by pressing CTRL+R.
8. Connect the required broker profile and open the Symbol Mapping settings by making a right-click on the broker profile in Trade Bar and selecting Symbol Mapping...
9. Manually reset the chart and broker symbols in all the lines where this particular symbol is used.
10. If a new order is placed with an incorrect price, it's price will be rounded to the nearest accepted value.