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Pending fill OCO orders (PT/SL) not pending but live
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Pending fill OCO orders (PT/SL) not pending but live

  #1 (permalink)
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Pending fill OCO orders (PT/SL) not pending but live

I changed something, somewhere, and I can't figure out what it was or what I did.

In the last few days when I submit a pending order into the market, with its auto-attached profit target and stop loss, the attached OCO order seems to go live immediately instead of being in a pending state, pending the fill for the entry order.

Where can I correct this?

As an example, I put a short in at 34.50 which is above the market, so it's pending fill. The attached profit target order is at 24.50. You can see it appears to be live in the market, instead of pending the fill of the entry order. It used to say "pending" on the order status tag.

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Mike

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  #2 (permalink)
Just a boy
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Extract from IB/Sierra setup guide

Hi Mike,

Not sure if this helps.

This is from the IB /Sierra setup guide (I believe you are with IB).

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Which have you selected? IB to manage OCO's server side or Sierra. Note Sierra suggest IB doing it may not work reliably - whatever that is supposed to mean!

Here is the link on Sierra's website.

Interactive Brokers Trading Service - Sierra Chart

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  #3 (permalink)
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I'll check but don't think that's the issue. The attached orders shouldn't be submitted until the entry order is filled, the OCO isn't part of the equation in that way yet

Sent from my LG Optimus G Pro

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  #4 (permalink)
Just a boy
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It maybe intended

Hi Mike (again),

Looking at it further I think it maybe intended.

If you do indeed have the option ticked for IB to manage the OCO's server side (as outlined in my first message) then it looks like Sierra no longer treats it as a child order as the management has been handed off to IB.

Look at this thread:

https://www.sierrachart.com/SupportBoard.php?ThreadID=8810

If you go to post #8 and look at the 2nd chart attachment. Although that posters issue is different to yours, you can see his parent and child orders appear as yours do - and he is using IB.

Also reference posts #40, 41 and 43 would tend to suggest Sierra has 'washed it's hands' of the child orders once handed to IB for management.

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  #5 (permalink)
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steve2222 View Post
Hi Mike (again),

Looking at it further I think it maybe intended.

If you do indeed have the option ticked for IB to manage the OCO's server side (as outlined in my first message) then it looks like Sierra no longer treats it as a child order as the management has been handed off to IB.

Regarding item 20 in that help document, I have no such options in build 1203 unless I am blind. I checked all the general tabs, I checked the data service options, I don't see anything to do with OCO's.

Mike

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  #6 (permalink)
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Quoting 
If you do indeed have the option ticked for IB to manage the OCO's server side (as outlined in my first message) then it looks like Sierra no longer treats it as a child order as the management has been handed off to IB.

Yes. This is correct.

The option you need to uncheck is Global Settings >> General Trade Settings >> Use Server-Side OCO and Bracket Orders.

As far as our statement about IB OCO bracket orders not working reliably and not being specific about it, this is based upon various problems we have heard about over the years. We use a general statement because it can be hard to explain them or explain all of them and we may not fully understand the particular problem the user encounters.

The recent issues with a IB managed bracket orders, were on the Sierra Chart side and just due to unexpected problems encountered when IB is managing the orders.

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  #7 (permalink)
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SierraChart View Post
Yes. This is correct.

The option you need to uncheck is Global Settings >> General Trade Settings >> Use Server-Side OCO and Bracket Orders.

As far as our statement about IB OCO bracket orders not working reliably and not being specific about it, this is based upon various problems we have heard about over the years. We use a general statement because it can be hard to explain them or explain all of them and we may not fully understand the particular problem the user encounters.

The recent issues with a IB managed bracket orders, were on the Sierra Chart side and just due to unexpected problems encountered when IB is managing the orders.

Thanks, found it. I was looking at "General Settings" not "General Trade Settings".

So with this now unchecked, attached OCO orders should stay "pending" (local) until the entry order is filled, and then they are submitted to the broker, right?

Mike

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  #8 (permalink)
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I need to make sure I fully understand.

With this option unchecked, once the entry order is filled, the attached PT/SL orders are still OCO on the broker right (using IB as an example)? I don't want local OCO for PT/SL orders. All I want is the PT/SL attached orders to be "pending" until the entry order is filled.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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  #9 (permalink)
Just a boy
Auckland, New Zealand
 
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Platform: Sierra Chart
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Pending fill OCO orders (PT/SL) not pending but live

Mike. I don't use IB but I do use Sierra. I think your assumption is wrong. If you un tick that option then only Sierra is managing the OCO. If you have a disconnect issue then you could be exposed. My reading between the lines is that if you have the option ticked the child orders are managed by IB and are not live at the exchange until the parent is filled. It is just that Sierra is not labelling them as a child as I B are now managing the process. So I believe for max protection the option should be ticked. But given I don't use IB, Sierra or IB should confirm.

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  #10 (permalink)
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steve2222 View Post
Mike. I don't use IB but I do use Sierra. I think your assumption is wrong. If you in tick that option then only Sierra is managing the OCO. If you have a disconnect issue then you could be exposed. My reading between the lines is that if you have the option ticked the child orders are managed by IB and are not live at the exchange until the parent is filled. It is just that Sierra is not labelling them as a child as I B are now managing the process. So I believe for max protection the option should be ticked. But given I don't use IB, Sierra or IB should confirm.

I agree.

So the problem then becomes, what changed? Before the orders would be 'pending' until the entry order was filled, and now they appear to be live.

My objective is to have server-side OCO, but keep the attached OCO PT/SL orders local until the entry order is filled. This used to work.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

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