How to urgently close a trade
- Using RTrader Pro (ALWAYS try this first)
- Understanding how orders are synced on Rithmic severs
- Contacting Leeloo via Email/Text
1. Closing positions in RTrader Pro (DO NOT CONTACT LEELOO UNTIL FOLLOWING THIS PROCEDURE)
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).
- Do not rapidly click CLOSE over and over on your platform (i.e. Ninja). 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.
- If it will not close with market order, try using a limit order to exit. This sometimes works.
- Instead, inside RTrader Pro, Click the Positions Icon and Click the red X next to your open position.
- Are the markets closed? Remember you will not be able to close a trade from 1615 until 1630 EST and 1700 until 1800 EST.
- If you click the Red X, and the trade still will not close, you may have hit your Auto Liquidate Threshold Value. Usually hitting your ALTV will force close/liquidate your position, but occasionally it does not. Click on the Leeloo Recent Orders Icon, expand the remarks on your orders, and look for remark 'Orders can be placed by administrators only.' This means you indeed hit your ALTV intra-trade however it did not liquidate properly and is the reason you cannot place any more trades (in this case, to close it).
Item 1. Usually it says Part of an Auto Liquidation in this blank space and preceding order
Item 2. 'Order can be placed by Admin Only' means you hit your max loss limit.
After confirming you have not hit your ALTV, if you are in a Performance Account or have lost your internet connection you may email or text Leeloo (Step 3).
Dont worry, if you have not hit your ALTV, we can help. Submit a ticket
with the following info:
- Screenshot of Leeloo Trader Dashboard showing current Account Balance
- Rithmic Account Number:
- Order Number (s): (Reference Leeloo Recent Orders Icon in RTrader)
- Date and Time Stamp of order. Mention your time zone.
- Description of Issue:
- Attach Rithmic Log Files:
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: 406-308-4055
Outside USA: +1 406-308-4055 (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)