Yesterday I had this order get declined. I want to make sure I fully understand what I am doing wrong especially since so far today it is a painful trade to not have made.
My software often sends sells and buy orders at the same time, but I put a delay on the buy orders of 60 seconds. This way if the purchase needs to use any of the proceeds from the sale of a previous security it is able to do so. So all my sales occurred yesterday at 3:50 pm. My purchases should not have gone through until 3:51 PM but they were cancelled due to a lack of purchasing power at 3:50 PM. By my estimates from my data logs etc. I should have had about $33,750 at just before 3:51 PM in cash then had about $33,700 in orders for ZIV and UPRO, but only ZIV was filled due to lack of cash on UPRO.
Can a C2 representative look into it and let me know if my delay method is not sufficient to do what I want or if I am just incorrectly calculating my buying power that C2 gives me etc.? For now my fix is to just increase the cash holdings to prevent this from happening again and I have extended the buy delay to 120 seconds.