How to urgently close a trade
- Using RTrader Pro
- Understanding how orders are synced on Rithmic severs
- Contacting Leeloo via Email/Text
1. Closing positions in RTrader Pro
It is recommended to keep RTrader Pro open even while trading off another platform so that you can track your rising trailing drawdown intratrade, but also be able to quickly close positions if your platform crashes (i.e. Ninjatrader).
- If orders are not closing on your platforms- Rithmic suggests trying a limit order to exit the position (instead of CLOSE or Market Order)
- Do not rapidly click CLOSE over and over on your platform. If there is lag, the position may eventually close but new orders will be opened. Keep in mind hitting CLOSE is a Market Buy if you are in a sell position, and a Market Sell if you are in a buy position.
- In RTrader Pro, Click the Positions Icon and Click the red X next to your open position.
2. Losing power/internet. Your orders are always stored on Rithmic Servers (Pros and Cons)
It’s wise to ALWAYS couple your order entries with a Stop Loss. Use your Auto Liquidate Threshold Value to determine an emergency stop loss on every trade, to avoid losing the entire account. Your pending Take Profit orders and pending Stop Loss orders are immediately synced to Rithmic Servers. If you lose internet or power, your pending orders will still be respected. WARNING- Rithmic will NOT know or respect OCO (Order Cancel Order) if you are offline. Your trade will close if it reaches either the Take Profit order or Stop Loss order first, but the opposite order will remain, and can open a NEW (unprotected) order, if price returns to that level. You have bought yourself some time to reconnect or contact Leeloo.. but you still may be in danger.
3. Contacting Leeloo to close positions
If you are able, you may log into the Support Portal with your Rithmic User ID and submit a ticket.
Be sure you enter your Account number in the field
. Which is your Rithmic User ID PLUS
an additional number. (explanation
Subject line – type ‘Flatten my positions!’
Subject line- type “Urgent! Flatten LL004232-012” or for Performance Account “Urgent! Flatten PA-LL004232-012”
*IMPORTANT*- This is a TEXT ONLY number, voicemails left on this # are never answered or processed. Do not text ANY message content to this number besides urgent requests to flatten trades)
Within USA: 406-225-0330
Outside USA: +1 406-225-0330 (Trader responsible for SMS fees)
You may abbreviate your message.
Message example – “Urgent FLAT 4232-012” or “Urgent FLAT PA 4232-012”
(Instead of LL004232-012, you may leave off the LL00)