- Demo FXCM account (not Sim, not Live)
- A Limit or StopMarket order is submitted at a valid price and reaches OrderState.Working
- The order remains Working for a period of time sufficient to declare the order successfully submitted and waiting on the relevant price
- Market is choppy and moving very quickly
- Price moves beyond the Limit or StopMarket order price that would trigger the order, and the order is triggered
Could this happen if, having triggered the order, price "immediately" moves back to the "other" side of the Limit or StopMarket order price, presumably before the order is filled?
The rejected order does not indicate that the price is invalid, as happens if submitting at an invalid price. In fact, the rejected order has no Comment or ErrorCode information to provide insight into why the order was rejected. The log and trace files do not provide any additional useful information either. The ErrorCode is actually NoError, even while orderState=Rejected!
This does not appear to be a margin issue as I have seen specific order rejections for margin violations, so I don't think that is the case here.
This lack of meaningful information is reflected in the unhelpful error popup, usually with a message of the general form "<Account Name>, affected Order: Buy <quantity> Limit @ <price>".
(For what it's worth this lack of meaningful error information was some time ago brought to the attention of NinjaTrader Support separately. It is occurring on FXCM connections. NinjaTrader Support acknowledges there is corrective code that can be written to fix these types of issues, but it is yet to be implemented.)
What might be going on that is causing these rejections?
Thanks.
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