Fast market Lesson: Stops can get rejected

Discussion in 'Order Execution' started by IAS_LLC, Feb 6, 2018.

  1. I so agree. Stops on every trade. So it was automated trading but you were watching it when it happened?
    #11     Feb 6, 2018
  2. IAS_LLC


    Yup, it was automated, and I was watching fortunately. I only run when watching. I would have been okay if I wasn't, as my target would have eventually been hit...but my stop was supposed to be 2 ticks...and I went as low as 80, within seconds.

    Completely my fault, but I learned something today and for that I'm grateful
    #12     Feb 6, 2018
    MoreLeverage and VPhantom like this.
  3. John9999


    Stop/market.... so it converts to a market order when touched... USUALLY it is the same price, but not always like yesterday.... honestly had I paid enough attention to the price action I would have stood on the sidelines... the NQ was putting in 60+ pt moves on 5 minutes bars... normally it is about 10-15 or so....
    #13     Feb 6, 2018

  4. After getting burned on an emergency fed rate cut many moons ago, I will only trade ES with a stop market. Yes you may get slippage in a fast market but it's never been very much if you are trading 100 lot or less
    #14     Feb 6, 2018
  5. I am glad you were watching and that it worked out.
    #15     Feb 6, 2018
  6. IAS_LLC


    To be clear, I attempted to place a stop market, not stop limit. Issue was the trigger price was below the market at the time it hit the exchange (within ms of open fill). Not sure if this was a Rithmic reject, or a cme rejected...but I'll find out.
    #16     Feb 6, 2018
  7. Overnight


    What is your trading platform?
    #17     Feb 6, 2018
  8. Pita


    that's rubbish, the fill might be unpleasant though.
    #18     Feb 6, 2018
    d08 likes this.
  9. IAS_LLC


    100% custom combination of c++ and python. I use Rithmic API for data and execution.
    #19     Feb 6, 2018
  10. Overnight


    Ahh, so probably not graphically intensive, and assuming you have millisecond interface resolution, I guess it was just a quirk in the speed of the markets that day (been intense) and maybe coupled with a delay in your internet latency.
    #20     Feb 6, 2018