Orders being Rejected

• 01/15/2025 at 3:39 PM #242639
  MacroT

  I trade auto strategies via IG and from time to time I get the following message

  “order status: rejected order rejected by the broker or the market

  The order level you have requested is too close to current market level , The minimum distance is X points ”

  As the broker has widened the the limit level for the market to X points.

  When this happens the strategy is stopped and I have to manually make it active

  This usually happens during economic releases but can happen at other times. Also they can change the level it is widened to , for example for S&P 500 it can be a low as 1 point but it can be as wide as 40 points

  I would like to know if there are any lines of code that can be added to prevent this from happening within the strategy coding , hence prevent the order being rejected and the strategy being stopped  ?

  Ideally, it would be great having something in the ‘ProOrder AutoTrading’ screen that allows you to click a check box to allow such instances to be executed at market when PRT receives such a rejectiom request or even better would be for the limit to be widened by y Points each time it is rejected until it gets executed

  Thanks

   

   

   

   

   

  

  MacroT

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  01/15/2025 at 3:43 PM #242640
  GraHal

  Are you ticking / enabling the ‘Auto-Adjust stops’ box when you start your Algos?

  If No, then try it.

  

  GraHal

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  01/15/2025 at 5:13 PM #242642
  MacroT

  Yes I am,  but from my understanding of this functionality it only changes the stops once the order has executed. So if a live order has to adjust its stop and the broker has widened the minimum distance then it will adjust accordingly.

  My issue is similar but on the actual order being executed in the first instance. Ticking this box does not resolve this for the parent order being initially executed if the limit is less than that set by the broker for the instrument

   

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  GraHal

  

  MacroT

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  01/15/2025 at 5:24 PM #242643
  robertogozzi

  Yes, you need to set a minimum distance large enough to prevent that error when using pending orders (STOP and  LIMIT ones), as for AT MARKET orders there’s no such issue. If the required distance for an instrument is, say, 6 pips, you can set that distance to 10+ to try to prevent your strategy from being stopped. Unfortunately there’s no way to know when the broker modify that limit and by how many points. So, there’s no guarantee that setting that distance to twice the regular requirement will do.

  Anyway, this is the code you can use:

  ONCE Distance = 10*PipSize //set a 10-point distance IF myLongConditions THEN IF close > (myEntryPrice + Distance) THEN BUY 1 CONTRACT AT myEntryPrice LIMIT ELSIF close < (myEntryPrice - Distance) THEN BUY 1 CONTRACT AT myEntryPrice STOP ELSE BUY 1 CONTRACT AT Market ENDIF ELSIF myShortConditions THEN IF close > (myEntryPrice + Distance) THEN SELLSHORT 1 CONTRACT AT myEntryPrice STOP ELSIF close < (myEntryPrice - Distance) THEN SELLSHORT 1 CONTRACT AT myEntryPrice LIMIT ELSE SELLSHORT 1 CONTRACT AT Market ENDIF ENDIF

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  ONCE Distance = 10*PipSize  //set a 10-point distance IF myLongConditions THEN    IF close > (myEntryPrice + Distance) THEN       BUY 1 CONTRACT AT myEntryPrice LIMIT    ELSIF close < (myEntryPrice - Distance) THEN       BUY 1 CONTRACT AT myEntryPrice STOP    ELSE       BUY 1 CONTRACT AT Market    ENDIF ELSIF myShortConditions THEN    IF close > (myEntryPrice + Distance) THEN       SELLSHORT 1 CONTRACT AT myEntryPrice STOP    ELSIF close < (myEntryPrice - Distance) THEN       SELLSHORT 1 CONTRACT AT myEntryPrice LIMIT    ELSE       SELLSHORT 1 CONTRACT AT Market    ENDIF ENDIF

  you will have to set your SL and TP as usual.

   

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  Iván

  

  robertogozzi

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  01/15/2025 at 5:27 PM #242644
  robertogozzi

  You may comment out the two lines with the AT MARKET entry to skip opening a trade when there is a tight distance. As it is now, a position will always be opened when your conditions are met.

   

   

  

  robertogozzi

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  01/15/2025 at 5:35 PM #242645
  MacroT

  Thanks- this is exactly what I have coded as a work around to the problem but as you said you never know how when or by how much the broker will widen by

   

   

  

  MacroT

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