Stop Loss is open suddenly

[ChrisGRM]

Hi,

since some days it happens very often, after I´ve placed an order (for example a sell market with a stop loss) and I flatten all when reaching my profit target, all orders disapear.
I can not see them on the chart, or in the active orders overview any more.
Then suddenly, when market hits the price from my old stop loss order on the way up, the order gets executed and I am long in the market. There was nothing visible any more, this is horrible. What am I doing wrong? Where can I see these orders?

 

[Donovan2580]

"Flatten All" will not always cancel existing open orders... Try to also make sure to hit "Cancel All" when you are out of a trade just to be safe.

If you look on the Account tab (On the bottom of MW) you should have a section with open orders...

 

[Spin]

Good answer, @Donovan2580

But I have noticed during some of my tests / debug sessions that some brokers still 'hide' orders from MW.

I also right click the 'orders' and 'positions'-tabs to refresh both respectively:



That causes MW to re-check with the broker whether orders / positions still exist. Sometimes 'hidden' ones pop up, allowing me to get rid of them

 

[Donovan2580]

Very true @Spin .

FYI - I have a unique sound that plays every time I enter or exit a trade. The sound will play when I hit the refresh button, even though there isn't an order being filled.

Took me a while to learn there isn't actually an order filled, it is just part of the re-syncing process ?

 

[ChrisGRM]

Thanks for your answers. I checked the open orders tabs, but there wasn't any. Just image what will happen when I close down MW and an order without any stop loss is beeing filled. Your whole account can blow up. So this is a serious issue for me which already affected the trust I have in this software because it happened several times ?

 

[Spin]

I would not conclude that this is 100% due to MW.
Could be on the broker's side as well.
Or a (data)packet lost in CyberSpace...

But I agree fully: given the very serious consequences behavior like this could potentially have (all those hard-earned savings disappearing in thin air!), I would expect the platforms AND brokers to perform better

 

[Shtick Hustler]

I checked the open orders tabs, but there wasn't any. Just image what will happen when I close down MW and an order without any stop loss is beeing filled.

Who is your broker, and/or which data provider?

 

[ChrisGRM]

Who is your broker, and/or which data provider?

AMP is the broker with CQG Feed

 

[nooris]

I use AMP - CQG. Thankfully I never had a problem like this. However CQG has plenty of fall back options. First thing you need to do is install the CQG app on your phone and log in with your CQG credentials and enable notifications. You can use this app to manage/enter/close trades and orders. It's a lovely app on phone and tablet. You also could use CQG Web on your web browser https://m.cqg.com/cqg/desktop/logon . Also a great platform, good to use on the go, and a perfect fallback option. It's all these great redundancies (and notifications on phone and watch) that keep me with CQG over Rithmic.
EVERY CQG CUSTOMER SHOULD GET THE CQG APP!

PS> CQG only allows you to be logged in from 1 device at a time, so if you open the app, it will log you out of MW (double click the wifi symbol bottom left to reconnect). If you log in from the web it will log you of MW or the CQG app, and so on. If you want to pay an extra $20/month they will let you have two devices connected simultaneously.

 

[moai]

I have had something similar to this happen to me on a small number of occasions. It happened just the other day, actually. I had a 2-target short bracket trade open on a 5min chart. I moved the two buy stop orders in tight to exit the position, and the stops filled, cancelling the two linked LMT orders. I always ensure I'm flat after a trade, and this case was no exception. IIRC, a couple minutes later MW froze or perhaps crashed - I may have had to restart. In any case, I walked away to have a break, and when I came back an hour later I noticed an open position. The two STP orders (which were filled in the original trade) were re-submitted to the broker and filled again a few minutes later, opening two new long positions without any stops. I quickly closed the position for a few hundred dollars loss and then worked on resuscitating my heart. Annoyingly, the wayward position was a couple thousand $ in profit just minutes before I noticed it - but luckily, it would have continued well into the tens of thousands in loss just a few minutes after I closed it if I had not noticed it at all.

I now religiously check my broker console after closing every trade and at any time I walk away from my desk to ensure there are no wayward positions, but I have to agree that this has hit my trust in MW somewhat.

(OANDA is the broker in question in the abovementioned instance. The instrument was XAU/AUD).