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Message "Stop order has been rejected by interbank party." |
[Tezcatlipoca]
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Post subject: Message "Stop order has been rejected by interbank party." |
Post rating: 1
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Posted: Fri 07 Jan, 2011, 12:58
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User rating: 1
Joined: Tue 05 Oct, 2010, 03:49 Posts: 6
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Hello,
I got a
08:44:26 Stop order has been rejected by interbank party. System will resubmit this order. 08:44:26 Order ACCEPTED: Parent Order #65721381 TAKE PROFIT BUY 3.141 mil. EUR/USD @ LIMIT 1.2961 IF ASK <= 1.2961 - Position #15012091
message while running my strategy.
My question is, why does this happen? What causes the interbank party to reject an order? How can this be avoided / minimized?
thanks, T.
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Contest Support
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Post subject: Re: Message "Stop order has been rejected by interbank party |
Post rating: 0
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Posted: Mon 10 Jan, 2011, 11:57
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User rating: 8
Joined: Wed 21 Apr, 2010, 10:42 Posts: 1167
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This message appears, when there is no demand/supply awailable for your order to be filled under the conditions you have set. The order was resubmitted after the reject right away. It was triggered again only some hours later and filled.
There are several reasons for this situation to appear. This time, the supply was not enaugh to fill all the orders on the buy side queue. Obviously it was impossible to fill your order volume at that time.
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[Tezcatlipoca]
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Post subject: Re: Message "Stop order has been rejected by interbank party |
Post rating: 0
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Posted: Mon 10 Jan, 2011, 17:56
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User rating: 1
Joined: Tue 05 Oct, 2010, 03:49 Posts: 6
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Thank you Support for your reply,
Is it safe to assume then that the greater the slippage one sets when submitting an order, the lower are the chances of this happening?
regards, T.
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Contest Support
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Post subject: Re: Message "Stop order has been rejected by interbank party |
Post rating: 0
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Posted: Wed 12 Jan, 2011, 17:34
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User rating: 8
Joined: Wed 21 Apr, 2010, 10:42 Posts: 1167
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This is correct. The greater the slippage for the Stop orders, the greater the chances for them being filled.
In case of the limit orders, the market supply or demand has to be enough in order to fill your and all the other orders on the market infront of yours.
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