Example 5: Restart ScaleTrader

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Example 5: Restart ScaleTrader

Data Assumptions:

Label	Value
NBBO	$10.12 - $10.15
Action	Buy
Total Order Size	1000
Initial Component Size	100
Subsequent Component Size	100
Starting Price	$10.10
Price Increment	.02
Order Type	Limit
Time in Force	GTC (this is set on the Basic tab of the order ticket)
Create profit taking order	Enabled
Profit Offset	.03
Restore size after taking profit	Enabled
Restart ScaleTrader	Enabled
Initial Position	200

The Restart feature helps you resume a busted ScaleTrader order from the point of the bust. A bust results in a lost connection between the scale and profit order processes, leaving two independent scaled orders. You can cancel these orders and create a new ScaleTrader Restart order.

The Existing Position value of 200 tells ScaleTrader that two of the components have filled, at $10.10 and $10.08, respectively. It "restarts" the scale order beginning with the 3rd component. The first buy order is for 100, and is submitted at $10.06. The profit-taker orders are set up for all three components, 100 at $10.13, 100 at $10.11, and 100 at $10.09, which are submitted. When the sell order for 10.13 fills, the size is restored at the 10.10 price level.

Note: The Existing Position feature is only available if the profit-taking order and Restore Size instructions are used.