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How does a GTC order expire?
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Topic Starter
Thu Nov 18, 2021 - 15:03
I place all of my Stops as GTC orders but I am seeing that they all expire after a single session. I believe that there is a bug in the code for the website.
5 RESPONSES
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Thu Nov 18, 2021 - 17:46
Sorry for this confusion, but it's by design...
In the current version of WealthSignals, you need to publish your signals daily. In the case of GTC, WealthSIgnals Stages the orders automatically, but you still must Publish them. Since we publish signals only once per day to subscribers, this design gives you a chance to add, subtract, change, etc. other orders along with your GTC orders. I hope that make sense.
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Thu Nov 18, 2021 - 18:21
Also, shouldn't your subscribers have an idea about the pending order everyday which is not always easy to accomplish with GTC?
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Topic Starter
Fri Nov 19, 2021 - 00:28
Cone, I am really confused now! If "Good 'Til Cancelled" does not mean "Good 'Til Cancelled", then what does it mean? And what is the difference between a "GTC" order and a non-GTC order??

My Stop signals only change once a week, over the weekend, and are published prior to the Market Open for Monday. As such, I should not need to continuously run my model to post unchanging Stops, correct? But I gather that you are saying that I should. Do I understand you correctly?

Eugene, I post EVERY day as required. Four days a week it is an "NST", and over every weekend I publish new signals and update the Stops for all my positions. Any Subscriber will see my daily posts, be they either an "NST" or new Signals and Stops if it is a weekend. There is CONSTANT communication, every day. Furthermore, if a Subscriber sees "new" Stops posted daily they will think that they must do something. The design of my systems is EXACTLY counter to your suggestion. I have designed these systems for an extremely minimal effort on the part of a Subscriber...once a week for less than 15 minutes over a weekend. I want Subscribers who are not required to be continually engaged on a daily basis, but rather have other priorities in their life also.
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Fri Nov 19, 2021 - 10:30
First, I apologize that we don't have this explained better anywhere on the site. The GTC facility (let's call it WSGTC) was added as a convenience in order to not have to key in the same Signal(s) everyday, because SIgnals to be published daily to execute properly, and publishing a Cancel Signal does not exist (currently).

Option 1 - Use WSGTC
Consequently, you can enter those orders as GTC, but since this is really WSGTC, you need to return to your system page each day after the market closes, and Publish those Staged WSGTC orders again.

Option 2 - Do Not Use WSGTC
In your case, I suspect that it's more convenient to use WL7's WealthSignals Publisher - forget about GTC, generate the signals daily, and publish them right from WL7.

If your subscribers know (from the info page) that the system's stop/limit orders don't change all week, then they can place GTC and cancel them the next weekend.

How to Cancel WSGTC:
1. Go to the System's Signal page, click the "Cancel" icon at the far right of a [GTC] Staged signal.
2. Honestly, I didn't know what WealthSignals would do if you marked Signals as GTC and then Submitted NST. Based on what I see in Janus system signals, it appears that Submitting NST also cancels the GTC Orders, which makes sense.
3. I'll have to check, but it's also possible that if you miss Publishing Staged GTC Signals, they will be canceled
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Topic Starter
Sun Nov 21, 2021 - 22:34
Hi Cone!

Thanks for your clear explanation! I think that I will be able to work with it now that I understand its operation. I suspect that some of these aspects of the system are probably well known by some of the long-time authors and were probably added without much documentation along the way.

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