Waiting a margin call ;)

Funny thing happened in the morning. I try to adopt one system for C2. The system works with a lot (50-300 are usual numbers) of limit orders for opening positions. Part of the system is that if available cash is below of some level all not filled orders must be canceled fast. The morning story. I sent ~90 orders for opening with intent to open one-two positions. In 15 minutes I started cancelling the orders because there was one fill. However, cancelation was taking sooo long finally I had 415K margined and -98K cash. Hmm… it’s margin call. The question is whom should I send a check tomorrow?

Current problems for the kind of systems

1. Cancellation of orders is painfully slow. It takes from 45 to 90 minutes to cancel ~100 orders by C2’s API(!). It’ll take forever to do it manually.

2. There isn’t any way to cancel all DAY orders at once.

3. there isn’t cancellation by condition. e.g. number of opened positions/cash below/BP below on C2/TB sides to for avoiding any delays.

4. I think C2 doesn’t check cash/BP before opening a position. At least I think so. I expect margin call only tomorrow. :wink:

It’s only suggestions for improving C2. It’ll be nice to have. I understand that the problems are relevant only for particular systems approach.


Please make your check payable to Matthew Klein.

OK, just kidding.

I understand the problem. Actually, C2 is supposed to check for margin requirements before allowing you to open a position. I’m not sure why it allowed you to open all those positions simultaneously. I will need to examine the server logs to find out. More on that later.

Regarding the time delay in canceling orders: yes, it is an annoying problem I need to fix. Part of it is caused by the fact that, before C2 “allows” a system vendor to cancel a signal, it first makes certain that the order has not filled anywhere (i.e. at any of the exchanges, or in a user’s real-life trading account). That takes time. It shouldn’t take over a minute, though! I’ll investigate.

Thanks for the heads up.

And, finally - yes - “Cancel All Day Orders” would be a nice, handy feature, which I will add to the To Do list.


Hmm… I need ~150K to cover the call and to hold current positions. It’s ~$147 by todays exchange rate. I can handle it. :wink:


Thank you for your prompt response. There aren’t complains from my side. I shared the story to show that not only C2 might have a problem. I knew that I can have cancelation delays and I might be in troubles with it. and anyway I still use aggressive opening instead of adjusting the system for C2 conditions when I can avoid the kind of troubles from my side as well.

Only one surprise was that I was able to have the amount of margin.