Switching from Zenfire to Patsystems Broker - Quick Questions

[trumpy]

Hello,

I am going to be switching from a broker that supports Zenfire to a broker that supports Patsystems and I have a few questions. I trade the following futures contacts- ES, SPI, HSI.

I dId read the connection guide for PATS and noted the difference with OCO's.

Can you please provide details on other order types as well. Specifically;

1) which order types are supported?

2) which order types are stored on my PC vs the Exchange and/or the PATS server.

Please let m know if there are any other differences as well that I should be aware of.

I am not in a hurry for this information so would rather have a detailed and thorough response even if it takes longer.

Thanks in advance and have a good 4th July weekend.


Trumpy

[NinjaTrader_Jason]

Hello trumphy,

1. You can submit the same order types in NinjaTrader when using a different connectivity provider. However, please clarify with your Patsystems based broker what order types they will accept and which ones not.

2. Please see the link below for more information regarding the location of orders.

http://www.ninjatrader.com/support/forum/showthread.php?t=5349&highlight=order+reside

You can check the order status in the State colummn of the Control Center-->Orders-tab.

Please note that OCO functionality resides on the PC with Zen-Fire and Patsystems. As well as 'Accepted' orders with Patsyetms. You will need to have NinjaTrader running and connected for OCO functionality or the 'Accepted' order to trigger. When not connected, it can result in an unexpected position in regards to OCO functionality.

For example, you have a short position with 2 ATM orders (stop loss & profit target). You close NinjaTrader and once you restart it and get re-connected, you are in a long position. This because both ATM orders were filled - one to close the short position and the other that caused the unexpected long position. The order that caused the unexpected long position was not cancelled when the other order was filled, since NinjaTrader was not running and connected to send the cancel request.

Have a great weekend as well.