Tradestation Invalid order EC703 multiple sell orders

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Tradestation Invalid order EC703 multiple sell orders

Last comment by - 3 days ago

Tradestation Invalid order EC703 multiple sell orders

Orders rejected for exceeding existing long shares; seeking guidance on TS or QC limits.

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Tradestation Invalid order EC703 multiple sell orders

Joe Masciovecchio | 10 days ago

Hi all,

I'm getting orders rejected for reason:

You are long 25.00 shares with 25.00 remaining on sell orders!

This is because I'm initiating a long of 25, and then a stop loss of 25, and trying to send some additional limit orders at profit taking levels above my entry.

Never seen this with other brokers, and my account is PDT eligible. Is this some strange TS enforcement, or a safeguard built into QC somehow?

Any guidance appreciated!

Author

Joe Masciovecchio

10 days ago

Upvote

Mia Alissi INVESTOR

10 days ago

class MyTradingAlgorithm(QCAlgorithm):
    def initialize(self):
        self.set_cash(100000)
        self.add_equity("SPY", Resolution.MINUTE)
    def on_data(self, slice):
        if not self.portfolio.invested and self.transactions.get_open_orders() == 0:
            # Example: Enter a position
            self.market_order("SPY", 25)
            # You might consider using manual checks and delays before submitting additional orders
            # Define stop_price and limit_price accordingly
            stop_price = 0  # Replace with appropriate logic to define the stop price
            limit_price = 0  # Replace with appropriate logic to define the limit price
            self.stop_market_order("SPY", -25, stop_price)  # Stop loss
            self.limit_order("SPY", -25, limit_price)       # Profit taking
    def on_order_event(self, order_event):
        if order_event.status != OrderStatus.I_N_V_A_L_ID:
            # Example: Cancel other orders for OCO logic
            if order_event.status == OrderStatus.FILLED:
                open_orders = self.transactions.get_open_orders("SPY")
                for order in open_orders:
                    self.transactions.cancel_order(order)
+ Expand
- Collapse

Sources: Trading and Orders - QuantConnect.com, Order Tickets - QuantConnect.com, Stop Limit Order Regression Algorithm, Key Concepts - QuantConnect.com, Limit If Touched Regression Algorithm

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Upvote

Joe Masciovecchio

Joe Masciovecchio | 10 days ago

This logic would give me exactly the same error from Tradestation...

Upvote

Joe Masciovecchio INVESTOR

8 days ago

For anyone else reading this – this is due to QC not being able to support OCO and bracket style orders.

Upvote

Louis Szeto INVESTOR

QuantConnect | 3 days ago

Hi Joe Masciovecchio

It does not seem like a problem related to OCO/bracket orders. Tradestation does not allow multiple open positions on the same security (like +10 and -5 positions exist simultaneously), so you cannot place an order in the opposite direction if the previous order is not filled. I suggest you place the OCO/bracket order when the initial order is fully filled:

def on_order_event(self, order_event):
    if order_event.status == OrderStatus.FILLED and order_event.ticket.order_type == OrderType.MARKET:
        self.stop_market_order(order_event.symbol, -order_event.fill_quantity, order_event.fill_price*0.95)
        self.limit_order(order_event.symbol, -order_event.fill_quantity, order_event.fill_price*1.1)

Best
Louis

Upvote

Author:

10 days ago

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