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I usually use Multicharts for charting whilst using Rithmic RTrader DOM for entry/exit.
This week I've used the Multicharts DOM which I have found problematic. Either through its functionality or my lack of experience with it or both!
Re. Master Strategy/Bracket Orders.
If I have 2 exit strategies set up.
Eg: (A) Has T/P 50 ticks, SL 10 Ticks
(B) Has T/P 100 ticks SL 20 Ticks
Example Scenario:
- Price at 23.10 I enter market long using Strategy (A) for exit parameters
T/P at 23.60... S/L at 23.00
- Price moves +30 ticks so trade still open.
- I see another long entry & buy another contract at 23.40 using Strategy (B) as exit
paremeters.
T/P at 24.40...S/L at 23.20
So now I'm long 2 at average 23.25 with individual T/P's & S/L's above
I want & expected the 2 contracts to be treated seperately as is done on Rithmic RTrader DOM but found Multicharts if adding to an already open position it uses the same exit strategy for each "add" & you cant mix exit strategies for differing entry points?
Error Message: Multiple Master Strategies cannot be simultaneously attached to the same base object(order/position). Only the first selected Master Strategy will be applied
Is that right or do I need to do something else to get it to work how I want or maybe I just did something wrong!
Just guessing here, but I think you'd have to write code (a "strategy"). I don't think MC's order design is very good, but neither are a couple other platforms that I know of.
Seems to me orders should be based on an entry, and each order should be separate (mutually exclusive) from all other orders. So each order would simply have it's own OSO's & OCO's. And if an order adds more entries, each of those entries would be separate as well (possibly with it's own OSO's & OCO's). But software companies don't seem to know how to figure this out LOL -- they come up with various design schemes that don't really work well.
I saw the same behaviour in manual trading. I would be awesome to have to possibilieties to make the entries indipendent from each other. Unfortunately I didn't find a way.
I'm even not sure if it will work using 2 charts on the same instrument with 2 different strategies.
You can create a "Feature Request" in the multicharts site to ask for this function to be implemented.... but I have no hope regarding a quick solution
The admin should not delete such post because is pertinent to present as a fact the interpretation is rather susceptible to how multicharts behave or the user is not familiar with the software.
RE: [Error Message] Multiple Master Strategies cannot be simultaneously attached to the same base object(order/position)
Although, one fix recommended by Etisan [London UK] later concurred by original-user posting such message,
Solution:
Multicharts > File > Preferences > Trading > Exit Strategies Mode (Ensure "All to Orders" is checked), does entails a learning curve regarding bracket orders.
[?] although my post correlated w/bracket orders [is power language note the link easylanguage]:
