Sierra charts and IB - order not cancelled in Sierra - Sierra Chart | futures io social day trading
futures io futures trading


Sierra charts and IB - order not cancelled in Sierra
Updated: Views / Replies:913 / 5
Created: by deepgreen Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Sierra charts and IB - order not cancelled in Sierra

  #1 (permalink)
Elite Member
vancouver canada
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Broker/Data: IB
Favorite Futures: Forex, Futures - ES, Eurodollar etc
 
Posts: 5 since Oct 2013
Thanks: 2 given, 8 received

Sierra charts and IB - order not cancelled in Sierra

To help understand this issue I use Sierra Charts with IB. My first real order.
I have a trade fill yesterday that should not have occured. I entered an order to sell which I cancelled a minute later. The order was well away from price action with no indication of a problem in the cancellation. The Sierra trade logs say that after a time out that it was deemed cancelled. But 2 hours later I was filled on the order - and I did not know. This was the FOMC meeting I sold a stock near the low and made a loss - sure had a rally....

Anyway after contacting Sierra they said that know about this problem and blammed IB's API. After talking to IB they said it was Sierra's implementation of it and they would like to discuss with Sierra.

It seems that the order was cancelled in Sierra but not knowledged by IB in the way that Sierra wanted. Two things are very clear directly from Sierra support message to me: firstly, even though Sierra timed out the order they deemed it cancelled (mostly this is true otherwise they stay around in a pending state) they do not warn the user that the order is actually indeterminate. Maybe cancelled maybe not. My comment is that this is a poor way to handle orders - they could at least pop up a message, issue a warning etc.

I got through to the IB API service desk. They also knew of the problems related to Sierra and gave me a low down that some of the calls should be made to check on the order status.

My take is that regardless of whose at fault using Sierra I cannot really use a system like this. Which brings me to the real questton has anyone else had this issue where orders are held pending for say a minute and then deemed cancelled even though the situation is indeterminate? And secondly does this occur with the Ninja and IB combination?

Thanks

Reply With Quote
The following user says Thank You to deepgreen for this post:
 
  #2 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,786 received
Forum Reputation: Legendary

Only a suggestion: I am not sure how the API you are using is working, but if you had the broker's platform open as well, you could see if the order is pending/working or not. For example, we use Rithmic for Sierra, but encourage users to also look at the R-Trader (Rithmic's own) to see if any order is working.

Your scenario could happen if you use external APIs. Check on the broker's platform as well.
Both should show pending and cancelled orders. Hope this helps.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
Reply With Quote
The following 2 users say Thank You to mattz for this post:
 
  #3 (permalink)
Elite Member
Tomsk, Russia
 
Futures Experience: Beginner
Platform: custom
Favorite Futures: gold
 
slickiam's Avatar
 
Posts: 253 since Dec 2010
Thanks: 131 given, 427 received



deepgreen View Post
To help understand this issue I use Sierra Charts with IB. My first real order.
I have a trade fill yesterday that should not have occured. I entered an order to sell which I cancelled a minute later. The order was well away from price action with no indication of a problem in the cancellation. The Sierra trade logs say that after a time out that it was deemed cancelled. But 2 hours later I was filled on the order - and I did not know. This was the FOMC meeting I sold a stock near the low and made a loss - sure had a rally....

Anyway after contacting Sierra they said that know about this problem and blammed IB's API. After talking to IB they said it was Sierra's implementation of it and they would like to discuss with Sierra.

It seems that the order was cancelled in Sierra but not knowledged by IB in the way that Sierra wanted. Two things are very clear directly from Sierra support message to me: firstly, even though Sierra timed out the order they deemed it cancelled (mostly this is true otherwise they stay around in a pending state) they do not warn the user that the order is actually indeterminate. Maybe cancelled maybe not. My comment is that this is a poor way to handle orders - they could at least pop up a message, issue a warning etc.

I got through to the IB API service desk. They also knew of the problems related to Sierra and gave me a low down that some of the calls should be made to check on the order status.

My take is that regardless of whose at fault using Sierra I cannot really use a system like this. Which brings me to the real questton has anyone else had this issue where orders are held pending for say a minute and then deemed cancelled even though the situation is indeterminate? And secondly does this occur with the Ninja and IB combination?

Thanks

Hey.

SC Team are highly qualified experienced software engineers.

You are not able to find any case they just leave a bad thing as it was.

More likely you will see they are on your side and they are right. Or it will be fixed.

Trade filled by IB even though it was cancelled - Support Board - Sierra Chart

gd lck

Scientia Libertas Prosperitas
Reply With Quote
The following 2 users say Thank You to slickiam for this post:
 
  #4 (permalink)
Elite Member
vancouver canada
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Broker/Data: IB
Favorite Futures: Forex, Futures - ES, Eurodollar etc
 
Posts: 5 since Oct 2013
Thanks: 2 given, 8 received


mattz View Post
Only a suggestion: I am not sure how the API you are using is working, but if you had the broker's platform open as well, you could see if the order is pending/working or not. For example, we use Rithmic for Sierra, but encourage users to also look at the R-Trader (Rithmic's own) to see if any order is working.

Your scenario could happen if you use external APIs. Check on the broker's platform as well.
Both should show pending and cancelled orders. Hope this helps.

Matt

Thanks Matt you are correct I must say this is something I should have done. Really good advice.

Reply With Quote
The following user says Thank You to deepgreen for this post:
 
  #5 (permalink)
Elite Member
vancouver canada
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Broker/Data: IB
Favorite Futures: Forex, Futures - ES, Eurodollar etc
 
Posts: 5 since Oct 2013
Thanks: 2 given, 8 received

Update on this issue - all Sierra uses note.

OK after following up with Sierra it is clear that when an attempt to cancel an order is made it first goes into a pending state until an acknowledgement from the broker system is received. On occassions the acknowldegement is not received (say by a momentary internet issue) and the order is stuck in pending state. After a period of time in pending Sierra will deem the order was successfully cancelled. Here is the issue the order may be active in the broker system - as the state of the order is indeterminate without a proper confirmation.

Now Sierra will correct the problem by simply leaving the state as pending (no guessing the order state ) for further action by the user. And Matts advice is the one I shall follow - check all actions in my IB trading platform.

Reply With Quote
The following 3 users say Thank You to deepgreen for this post:
 
  #6 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,786 received
Forum Reputation: Legendary


deepgreen View Post
Now Sierra will correct the problem by simply leaving the state as pending (no guessing the order state ) for further action by the user. And Matts advice is the one I shall follow - check all actions in my IB trading platform.

One last additional piece of advice: Check all your trades at the end of the day against your paper statement or online equity run. This should give you a summary of all your actions throughout the day.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
Reply With Quote
The following user says Thank You to mattz for this post:

Reply



futures io > > > > Sierra charts and IB - order not cancelled in Sierra

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
BetterRenko for Sierra Charts aslan Sierra Chart Programming 7 July 31st, 2017 09:31 PM
Sierra with IQ and IB MarpleTrading Sierra Chart 21 January 4th, 2013 08:21 PM
Sierra Charts: Tweet your trades ktrader Sierra Chart 6 November 23rd, 2012 06:37 AM
Sierra Charts CD gmorgan111 The Elite Circle 4 November 3rd, 2011 10:15 AM
Sierra Charts for trading jstnbrg Sierra Chart 13 May 4th, 2011 05:34 PM


All times are GMT -4. The time now is 08:36 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.15 seconds with 19 queries on phoenix via your IP 54.234.247.118