Creating Stop/Limit For "N" MaintenanceType Type Account

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Creating Stop/Limit For "N" MaintenanceType Type Account

Postby JonathanDruck » Mon Jul 02, 2012 5:16 am

Hi,
I have been searching of how to create Stop / Limit for a Existing Trade in a "N" MaintenanceType Type Account. As far as I could tell I need to create an LE/SE order add attach it to the Open Trade.

If already Existing LE/SE(i.e. Created on open command valuemap), I can edit them by finding the TradeID -> ContingincyID -> OrderID of LE or SE. then send EditOrder Command. Simple. But creating has me completely puzzled.

please advise,
Jonathan Druck
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Re: Creating Stop/Limit For "N" MaintenanceType Type Account

Postby sunshine » Mon Jul 09, 2012 7:43 am

In order to create Stop/Limit, you should fill corresponding fields in value map.
For details, please read:
http://www.fxcorporate.com/help/DotNet/ ... der_A.html

Please note that you cannot create Stop/Limit for existing trades on FIFO accounts. Instead, you can use Net Stop/Limit order

To define if your account is FIFO, you can use the method O2GPermissionChecker.canCreateMarketCloseOrder

I hope this helps.
sunshine
 

Re: Creating Stop/Limit For "N" MaintenanceType Type Account

Postby JonathanDruck » Mon Jul 09, 2012 8:43 am

Hi,
"Using ELS Orders for FIFO accounts" Does not provide an answer how to create on an already Open TradeID (FIFO) a new ELS order. But this is the direction I am looking for, as netting is not compatible to what we need.

Also I'm looking for the technical answer of how its done.

Best regards,
Jonathan Druck.
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Re: Creating Stop/Limit For "N" MaintenanceType Type Account

Postby Nikolay.Gekht » Mon Jul 09, 2012 12:03 pm

Does not provide an answer how to create on an already Open TradeID (FIFO) a new ELS order.

Under FIFO you cannot close the exact trade you want. You can only close the oldest position for the instrument you have. This is why it is FIFO. This behavior is required by NFA 2-43(b) rule.

ELS order is a replacement for the initial setting of the a-la stop/limit when trade is about to be opened, so it is designed to be used only in open or entry orders.

As an alternative you can create OCO entry orders to protect the existing trade or you can use a netting order which applies to all existing trades on particular instrument.
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