Status 103 => 'There is an existing contract for the given market, please review it before opening a new one'
The reason why you see this is that there is an existing open contract in the exchange and you are trying to open a new position for the same contract.
This situation causes accounting mismatches, for example, if you have a short contract with an amount of -100 and you open a new long contract with the amount of 150, you will end with a final amount of 50, instead of 150.
In order to avoid this situation, the system refuses to open a new position while the contract is still active.
The first thing that you should do is to investigate why there is an open contract in the exchange, the reasons could be:
- You opened the contract directly on the exchange.
- A position with a certain amount was closed without exiting and with an error.
To fix it, there are two scenarios, positions from profit-sharing services, and all the others.
All the others:
Go to My Exchange Accounts
Once inside, locate the exchange account where this is happening and click in the Order link:
In the new modal window, you will see two options, Orders and Contracts (if you don’t see Contracts is because the exchange is not futures, so probably you are looking at the wrong one). Go to contract, and be sure that you have selected the column Close, if you don’t see it, just click on the column selector and check the option there.
Locate the pair that you wanna fix. Probably, you will find the string from the Position ID column empty, if it’s not empty, click on the link and be sure that the position is closed, if it’s not closed, you don’t wanna close the contract, its better to manage the position.
Once the pair is located and you are sure that there isn’t any active position for it, you can click on the close icon and the contract will be canceled on the exchange. Once it has disappeared from there, you will be able to open new positions for that pair.
If the position is from a profit-sharing service, the process is exactly the same, the only thing that changes is the place where you will find the view of the contracts. For profits-sharing, you need to go to your service’s profile and click in the management column. There, you will find the options, Positions, Orders, and Contracts. Just click on contracts and you can follow the process from the previous section.
Once you have fixed this, if it was a profit-sharing service, contact support because if this situation has happened, then, probably, there is an accounting mismatch.