"Exit Orders should always..." option
Author: kazuna
Creation Date: 6/29/2009 5:23 PM
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kazuna

#1
Does "Exit Orders should always..." option have a restriction if used with multiple scripts?

Here are two scenarios I tested. Scenario 1 works but Scenario 2 doesn't. Why Scenario 2 doesn't work with "Exit Orders..." option?

[Scenario 1]

I have two strategies running on Strategy Monitor. These two strategies use the same script and trade the same stock.

One strategy generates a stop exit alert and the order is placed. When other strategy generates the same stop exit alert at the same bar, the 2nd order isn't placed because the order is already placed. I think this is an expected behavior when the "Exit Orders..." option is enabled.

[Scenario 2]

I have two strategies running on Strategy Monitor. These two strategies trade the same stock. However, two strategies use its own copy of a script.

One strategy generates a stop exit alert and the order is placed. When other strategy generates the same stop exit alert at the same bar, the 2nd order is being placed but it always fails with an error saying "Your order cannot be processed as entered...".

It looks to me if the "Exit Orders..." option works but only if the strategy is using the same script. IS this expected?
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Cone

#2
If the same script (same name/GUID) tries to place duplicate orders they're automatically canceled by internal logic. If two different scripts (different name/GUID) place the same order, then the order goes through WLP, but error out on the back end. That's the difference.
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kazuna

#3
QUOTE:
they're automatically canceled by internal logic.
I makes sense. The internal logic was exactly what I was suspecting. Thanks for confirming this!
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Cone

#4
Sure, it's mentioned in the User Guide too: Orders > Features and Limitations of Automated Trading > Duplicate Order Detection
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