Hi all:
I am still having difficulty placing OCO orders in the simulator using IB and NinjaTrader. I am testing the IB Simulator with NinjaTrader and trading with 6B Z6 (the British Pound futures contract). I want to make sure I can place orders correctly before risking the real stuff in the markets.
What I ideally want to do is :
1) I want to place a Sell Stop or A Buy Stop (depending upon whether I am short or long) to correspond to the breaking to price structure to downside (for the Sell) or the upside (for the buy).
2) For sell orders: Once that Sell stop order is placed, I want to place a Buy Limit order when by sell target (or maximum excursion set by me through Ninja Trader) and another Buy limit if my stop loss target is hit.
3) For buy orders: Once the Buy Stop order is placed, I would like to place a Sell Limit order once my target is hit, or another Sell Limit order as my stop loss target is hit.
When I have attempted to set all of these orders up using the control center, I did my best to follow the video instruction, placing the orders as shown using the TIF GTC (as I am letting these positions in some cases sit overnight). I place the number 1 in the OCO radio box for each order to make certain that all the trades within the OCO are identified.
What generally happens is that the buy stop on a sell order will get filled if the price moves away (which I do not want to happen, because I am waiting for the initial sell stop to be filled to initiate the OCO trade if I go short). The same thing happens in reverse when I want to go long. (in other words, the Control Center is treating each trade as separate trades and not as an OCO).
Does that mean that I have to physically be present to bracket every trade? If that is the case, I don’t really see any advantage to NinjaTrader over the IB platform. Obviously, I am doing something terribly wrong.
I have also had similar problems with the SuperDom when trying to execute a sell stop or a buy stop to execute the trade at the precise price that I want, based on price structure shown on the chart.
Where am I going astray?
Thanks for your help.
btrader
I am still having difficulty placing OCO orders in the simulator using IB and NinjaTrader. I am testing the IB Simulator with NinjaTrader and trading with 6B Z6 (the British Pound futures contract). I want to make sure I can place orders correctly before risking the real stuff in the markets.
What I ideally want to do is :
1) I want to place a Sell Stop or A Buy Stop (depending upon whether I am short or long) to correspond to the breaking to price structure to downside (for the Sell) or the upside (for the buy).
2) For sell orders: Once that Sell stop order is placed, I want to place a Buy Limit order when by sell target (or maximum excursion set by me through Ninja Trader) and another Buy limit if my stop loss target is hit.
3) For buy orders: Once the Buy Stop order is placed, I would like to place a Sell Limit order once my target is hit, or another Sell Limit order as my stop loss target is hit.
When I have attempted to set all of these orders up using the control center, I did my best to follow the video instruction, placing the orders as shown using the TIF GTC (as I am letting these positions in some cases sit overnight). I place the number 1 in the OCO radio box for each order to make certain that all the trades within the OCO are identified.
What generally happens is that the buy stop on a sell order will get filled if the price moves away (which I do not want to happen, because I am waiting for the initial sell stop to be filled to initiate the OCO trade if I go short). The same thing happens in reverse when I want to go long. (in other words, the Control Center is treating each trade as separate trades and not as an OCO).
Does that mean that I have to physically be present to bracket every trade? If that is the case, I don’t really see any advantage to NinjaTrader over the IB platform. Obviously, I am doing something terribly wrong.
I have also had similar problems with the SuperDom when trying to execute a sell stop or a buy stop to execute the trade at the precise price that I want, based on price structure shown on the chart.
Where am I going astray?
Thanks for your help.
btrader
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