Error message on Strategy Execution(Market order should be either immediate or cancel

[SuperDriveGuy]

Hi ,
I have just finalized a Stratgey and code looks like...

if (<Lots of conditions here>)
{
EnterLong(1, "");
ExitLongStop(TrailingStopLoss, "", "");
}


But the buy/sell orders are being rejected by my broker(FuturesBetting). Apparently the orders need to be "Immediate or Cancel". I did not find that option anywhere in the wizard. Even if I were to code it, how do I go about it?

[SuperDriveGuy]

Hi,

IOrder seems to have what I need. But how do I use it so as to submit a "immediate" order?

Methods and Properties
Action
Possible values are:


Action.Buy
Action.BuyToCover
Action.Sell
Action.SellShort
AvgFillPrice
A double value representing the average fill price of an order
Filled
An int value representing the filled amount of an order
FromEntrySignal
A string representing the user defined fromEntrySignal parameter on an order
Instrument
An Instrument value representing the instrument of an order
LimitPrice
A double value representing the limit price of an order
LiveUntilCancelled
*A bool value representing if the order is live until cancelled by the user
Name
A string representing the name of an order which can be provided by the entry or exit signal name
Oco
A string representing the OCO (one cancels other) id of an order
OrderId
A string representing the broker issued order id value (this value can change)
OrderState
See table below
OrderType
Possible values are:


OrderType.Limit
OrderType.Market
OrderType.Stop
OrderType.StopLimit
Quantity
An int value representing the quantity of an order
StopPrice
A double value representing the stop price of an order
Time
A DateTime structure representing the last time the order changed state
TimeInForce
Possible values are:


TimeInForce.Day
TimeInForce.Gtc
Token
A string representing the unique id of an order
ToString()
A string representation of an order


OrderState Values
OrderState.Accepted
Order has been acknowledged by the broker
OrderState.Cancelled
Order has been cancelled
OrderState.Filled
Order has been filled
OrderState.PartFilled
Order has been part filled
OrderState.PendingCancel
An order cancellation request has been submitted
OrderState.PendingChange
An order change request has been submitted
OrderState.PendingSubmit
An order has been submitted
OrderState.Rejected
An order has been rejected
OrderState.Working
An order is working at the exchange
OrderState.Unknown
An unknown order state


Thanks

[NinjaTrader_JoshP]

The problem is you cannot submit an exit order until you actually have a long position. You will want to wait till confirmation on a filled position before sending that exit order. To do this in the Wizard you want to expand the Strategy category and select the long market position as your condition.

[SuperDriveGuy]

Hi Josh,
Thanks for replying.
I had tried removing the exit order as you sugested, so that my code looked like..

if (<Lots of conditions here>)
{
EnterLong(1, "");
}

But, I still get the same error message!

Any ideas??

Thanks

[NinjaTrader_JoshP]

SuperDriveGuy,

Please post the exact error message. Please do not confuse IOrders with the Strategy Wizard. IOrders require advanced programming to utilize and are not accessible in the Wizard.

[SuperDriveGuy]

The error message has been attached in my 1st post

[NinjaTrader_JoshP]

SuperDriveGuy,

As you start your strategy, please try a different TIF setting. See if that helps.

[SuperDriveGuy]

Hi Josh,
I am listing below the relevant lines from the log...

------------------
0/03/2009 15:32:45|1|32|Order='CorrID-6872-633740167660769325-35/N_SShah' Name='Buy' New State=Accepted Instrument='Z 06-09' Action=Buy Limit price=0 Stop price=0 Quantity=1 Type=Market Filled=0 Fill price=0 Error=NoError Native error=''
30/03/2009 15:32:45|1|32|Order='181238392/N_SShah' Name='Buy' New State=Rejected Instrument='Z 06-09' Action=Buy Limit price=0 Stop price=0 Quantity=1 Type=Market Filled=0 Fill price=0 Error=OrderRejected Native error='Market order should be either 'Immediate Or Cancel' or 'Complete Volume''
30/03/2009 15:32:45|0|32|Market order should be either 'Immediate Or Cancel' or 'Complete Volume' Affected Order: Buy 1 Market
30/03/2009 15:32:45|0|128|Strategy 'MyRSIStrategy' submitted an order that generated the following error 'OrderRejected'. Strategy has sent cancel requests, attempted to close the position and terminated itself.
-------------------

I am running on 15sec TIF, do you think I should try 1min?

I have a programming background, so am quite comfortable with "advanced" coding, if required. Also, I have the following code in the initialize section, is that where the "close" is being called before the "open", as you were suggesting???

-----------
protected override void Initialize()
{
SetTrailStop("", CalculationMode.Ticks, TrailingStopLoss, false);
SetProfitTarget("", CalculationMode.Ticks, ProfitTarget);

CalculateOnBarClose = true;
}
--------------

Thanks

Thanks,

Suleman

[NinjaTrader_JoshP]

Suleman,

Sorry for the confusion. I am not referring to the time frame you are running your strategy on, but the Time-In-Force setting for your orders. When you start up a strategy you should be able to choose something like GTC (Good-till-Cancel). Please try a different TIF setting.

[SuperDriveGuy]

Hi Josh,
I will try that.


I have attached the whole strategy, its quite simple actually :-)

Let me know if anything stands out.

Thanks,

[NinjaTrader_JoshP]

Suleman,

The previous comment on your exits still stands. Please let me know what happens as you change TIFs.

[SuperDriveGuy]

Hi Josh,
Changing the TIF seems to have worked. I will check my PnL and confirm.

Many thanks.
Regards,

Suleman

[SuperDriveGuy]

Hi Josh,
Just confirmed with the broker, the trades are coming through!

Hurray!! Many thanks for your help.
Regards,

Suleman

[NinjaTrader_JoshP]

Glad you got it resolved Suleman.