Combine Multiple Sell Orders
Author: xramx
Creation Date: 12/14/2012 4:08 PM
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xramx

#1

The overnight trading systems I use with WLP often result in multiple sell orders for the same symbol. Using WLP's "Place Order", results in each individual order being submitted and multiple commissions being charge. I've tried staging before submission, then editing the order, but this requires mentally adding up the quantities from the orders, an error prone task. So, I usually go over to the Fidelity trading product, display positions and click sell which generates a single order with the quantity filled in.

This isn't a big deal, but there are so many good things in WLP, I thought this might be there and I've overlooked it. If there is a way to combine orders, I'd appreciate a pointer to any documentation or help item.

Bob

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Cone

#2
Wealth-Lab trading is position-based (it makes for straightforward analysis of the raw profit metrics for each trade). So, each Position that you enter has to be exited individually; there's no way to programatically merge a Position into an aggregate Position. There's one possibility for live-trading, however -

If your strategy always exits the all the shares of a symbol, then you can enable "Exit orders should always exit the full Position..." in Preferences (F12) > Trading > Trading Options. In this case, the number of shares for all Alerts entering the Orders tool will be synch'd to your live shares for a symbol.

Now, this option was created to prevent exiting, say 98 shares, when you really own 100. I'm not sure how the Fidelity backend will handle multiple orders coming in to sell the entire live position. If you're lucky, one order will execute and the other(s) will error out. There's no way to know without giving it a try.
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xramx

#3
Thank you, that was exactly what I was looking for. Can't believe I missed it!

Also, that is really a creative idea you suggested. I know with IB they would go short the extra sell orders, but I don't think Fidelity will. I'll give it a try and see what happens.
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