Pending Order Question - What does 'SM' mean under Type?

[Brendon 146]

Hi All,

Quick question, I was using the script 

 

ROUTE=LIMIT;Price=Ask+0.05;Share=5000/Price ;TIF=DAY+;BUY=Send;ROUTE=STOP;StopType=Market;StopPrice=last*.99;Share=5000/Price;TIF=DAY+;SELL=SEND

 

I am not sure if this script works, im in after hours and only the buy is being executed even if the price moves above/below. Could be a sim issue or after hours issue... 

I think this pending order is that once the last price hits $50.16 the order executes and sells my position? Type SM: 50.16  not sure what that means? Any clue?

The chart shows the sell order arrow at 50.74...so I am thinking that is the original order then the script amends it to sell at market once the last price hits 50.16?

Any feedback would be helpful, sorry if what im asking is unclear.

 

 

Edited July 3, 2018 by Brendon

[Robert H 455]

Hey B,

Most likely an after hours issue. Someone else mentioned a problem with a STOP order in pre-market.

SM means Stop Market. The Price column is irrelevant--it just shows what the current price was when you sent the STOP order. The open order triangle on the chart will also be placed at the time/price of when you sent the STOP order (useless info, I know.)

So, SM:50.1603 means there is a STOP MARKET order which will trigger at 50.16.

[Brendon 146]

Interesting and perfect, thanks Rob. Man of wisdom. Also do you know how I can close my open positions and open orders at the same time with pushing a hotkey just once? 

If I use something like:

CXL ALL;ROUTE=SMRTL;Share=Pos;Price=Bid-0.05;TIF=DAY+;SELL=Send

It cancels my open order, but I get the Stop Order window to pop up wanted me to hit Okay to close out

I rather not have to hit it twice as I could be tempted to not close out after 1 push. 

[Robert H 455]

I've never used the cancel hotkey/button. I know that pressing the PANIC hotkey once closes all open orders (if any exist), and pressing it a 2nd time closes all open positions.

Play around with the PANIC command and see if it can be combined into one hotkey. Might just work.