Fidelity: Max 10 Order Limit - Need "Limit if Touched" Order Type

[b396]

Fidelity allows max 10 working orders. Could you please add a 'limit if touched' order type so I can place more than 10 limit orders at once? These orders would stay on my computer and wouldn't be impacted by Fidelity's limitations.

[Jerry Medved]

1) I do not see any limitation on # of working orders. At least not 10. I have 15 now. 

2) LIT order type is not available on their website, so cannot implement it because of that.

[b396]

Fidelity isn't aware of a LIT order until the price matches. Until then, the order stays on MT on the local computer and is only sent to Fidelity (or another broker) as a standard limit order once the price meets the limit.

Another software vendor, Sierra Chart, offers this type of order. Although Sierra Chart is mainly for futures trading, the concept is the same. They’ve implemented this order type in their software, making it compatible with any broker's platform. The process has two steps: (1) the software waits for the price to match the limit, and (2) it then sends a standard limit order to the broker. This is my understanding of how it works.

[Jerry Medved]

we do not want to manage orders on the client side.

[b396]

[b396]

If I tried to place more than 10 orders, Fidelity canceled all these orders as duplicates as shown in the image posted above. This is the reason I wanted to have an option where all of my orders rested on my computers without worrying that Fidelity would reject them as duplicate orders.

On a side note, could I do that if I hire a software developer and produce something similar using your API?

[Jerry Medved]

ok if they are the same, then yes, but if prices and QTY are different, then it allows them. 

you could definitely do it with the API - you would have to have your stuff monitor the quotes and when condition is met, send the order - all via API. 

you could even have MT check the "condition". Can just set a trendline alert at a price level and have the API check for the alerts

[b396]

Is there a random function I can use with a hotkey combo to change the QTY slightly each time?

[Mike Medved]

1 hour ago, b396 said:

Is there a random function I can use with a hotkey combo to change the QTY slightly each time?

In a Paintbar you can do:
1. Once (on initialization I guess) do this:

Random rnd = new Random();

2. when you need a random integer, just do

int randint  = rnd.Next(1, 10);  // creates a number between 1 and 9

as for doing it direct in Hotkey, next version will have
randint(min,max)
randfloat(min,max)