Market orders replacing market orders

C2
1

Hi,

I am replacing one stock in my portfolio with another.

I have entered a market order to close the first stock.

Now I am entering a market order to buy the second stock, but it is rejected due to lack of cash.

I am using the website to enter the orders.

Do I need to wait until the sell order has gone through before I can enter the buy order, even though they are both market orders, and the sale of the first will provide plenty of funds for the replacement order?

Cheers,

Bruce

2

Hi, Bruce:



What you want to do is use a “conditional order” – that is, make the second order (to open the new stock position) conditional upon the first order’s being executed (to close the old position).



There is help available on the order-entry screen to learn how to make a conditional order.

3

Thanks Matthew

Best regards,

Bruce

4

Matthew,

The video that shows how to make conditional orders shows a “conditional” button on the order entry panel… my order entry panel doesn’t have a “conditional” button?

Bruce

5

OK, I see now - you don’t get a conditional button until you have entered an order already. Not sure if this is helpful or not as a feature, but it should be mentioned in the video.



I have another question outstanding though:

I create my own signalids. I understand C2 uses its own, and stores mine as reference from an earlier reply. But is there anyway I can see the signalids I allocated to trades when I sent them to c2?

Cheers,

ES

6

I just double-checked my screen, and I confirm that I see the “Conditional” button on the order entry screen, any time there is a working order which can act as the “parent” for the about-to-be-entered conditional. (Remember that you can’t enter a conditional order if there isn’t another still-working order upon whose execution it can be conditional.)



If you don’t see the little gray “conditional” button, and you think you should (because you have other working orders), please help me by taking a screenshot of your screen and emailing it to me. Maybe that will give us a clue as to why the button isn’t visible to you. (Email: matthew at collective2)



Regarding your second question: currently, there is no way to learn which internally-assigned signalid is matched to which C2 globally unique signal id after the fact. However, if you used the signal entry API to initially enter your signals and, at that time, you assigned an internal signal id to each order, you were informed of the C2-assigned signalid at the moment you submitted your signal. In theory this allows your software to store the corresponding C2 signalid for each of your internally assigned IDs.