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Example 6: Restart ScaleTrader with Filled Initial Component Size

A busted scale order results in a lost connection between the scale and profit order processes, leaving only two independent scaled orders. The Restart instruction is designed to help you resume a cancelled or busted ScaleTrader order, starting from the point at which the scaled sequence left off. First, cancel the two separated scale orders. Next, create a new ScaleTrader Restart order by identifying your current position and telling ScaleTrader how much of the initial component size filled in the busted order. ScaleTrader will restart the order at the appropriate component and price level.

Note: Note:    The Filled Initial Component Size field only becomes active if the Existing Position value is less than the Initial Component Size.

Profit Offset: $0.02

Restore Size after taking profit: box checked on Order Ticket Scale tab

Restart ScaleTrader: box checked on Order Ticket Scale tab

Existing Position value: 500

Filled Initial Component Size: 1200 (this value must be greater than or equal to the Existing Position value, up to a maximum of the Initial Component Size).

The Filled Initial Component Size of 1200 tells ScaleTrader that there is an unfilled quantity of 800 (of the 2000 Initial Component Size). The first buy order for 800 is submitted at $10.15, and profit-taker orders of 1000 and 200 are set at $10.17 and $10.18, respectively.

Activate the Restart ScaleTrader instruction using the checkbox on the Scale tab of the Order Ticket. This feature is only available if the profit-taking order and Restore Size instruction is used, and if the value in the Existing Position field is less than the Initial component size.

Important Disclosures