There are several reasons your orders may have been rejected. DAS Trader Pro displays the full rejection message to you in the montage window, in the status bar below the Level 2 information.
In many cases, the trading venue (route) will reject your order, in which case you will need to check with your broker or admin who can contact the route for more information. If you are a broker or admin trying to find out more information, please contact the trading venue, with information regarding the symbol, entry time, and quantity available so the route can look up the rejection method.
If you receive a rejection because of BP, you should check:
1. The margin requirements for that symbol (you can check by clicking Trade then Shortlist. Enter the symbol you are trying to trade in the first column and press enter. It will then tell you the margin rate for long positions and short positions).
2. If you have open orders, they will use your BP. Double check your BP in the account window.
If you receive a rejection message regarding risk controls, please contact your broker or administrator to review the risk controls placed on your account.
BP and Equity: Left click on the row containing the account, bringing up the account info on the right side. Left click on the “…” button next to the BP/EQ field (circled in red above), opening the Equity window. Beginning values may be edited for Daily and Overnight buying power, and Equity. Current values may be viewed.
Buying Power in cash accounts allows the trader to use their cash ONCE each day.
Withheld Buying Power for cash accounts is not replenished when an intraday (or overnight) position is closed.
Daily: Buying Power for cash accounts is displayed as FOUR TIMES the actual cash value. The system will divide that number by four. The front end user will see the actual cash amount in the Open BP column on their Account Manager, not the four times cash the Administrator sees. When Daily BP is edited for cash accounts FOUR TIMES the actual cash value must be entered.
Over Night: Buying Power for cash accounts is displayed as TWO TIMES the actual cash value. The system will divide that number by two. The front end user will see the actual cash amount in the Overnight BP column on their Account Manager, not the two times cash the Administrator sees. When OverNight BP is edited for cash accounts TWO TIMES the actual cash value must be entered.
Daily and OverNight Buying Power for margin accounts is displayed as the actual buying power. No adjustments need be made.
CLICK COMMIT WHEN DATA ENTRY IS COMPLETE!