Stoploss orders several questions

[pstrusi]

I'm almost ready with my automated trading strategy, obviously it has a static stoploss orders for fix amount ($ 500), regarding this I have several questions:

1. I understand that the stoploss order will be just sent ONCE the condition is met in NT, so: what happens if a connection to my broker fails ? I'd have a opened position without stoploss order, very dangerous situation. I imagine my broker won't receive any stoploss order is there's no connection.

2. Is there any way in NT to program stoploss orders that could be sent ONCE I have a new position opened to protect me in a dangerous situation? cause if connection fails I won't be worried while I reestablish the whole operation.

Thanks in advance

[NinjaTrader_Brett]

Hello,


Thank you for your note.


This depends on who your broker is and where your orders reside if you are using the SetStopLoss() method.

Please review this link and let me know if you have any questions.

Where do orders reside:

http://www.ninjatrader-support2.com/vb/showthread.php?t=5349

Let me know if I can be of further assistance.

[pstrusi]

Hi Brett, thanks for your quick response, I read the link and in my case is Interactivebrokers, however it still doesn't answer my question cause the problem here aren't the accepted or working orders ( I know they will be in IB servers ) what I want to know is how and when NT delivers a stoploss order...cause the dangerous situation here is "if there's a connection failure" and NT is unable to send a stoploss order if needed. Please let me know how to program a stoploss order that could be sent ONCE I have a live and opened position in my broker.

[NinjaTrader_Brett]

When you use the SetStopLoss() and SetProfitTarget() methods the order will submit as soon as you have a position.

http://www.ninjatrader.com/support/helpGuides/nt7/setstoploss.htm

http://www.ninjatrader.com/support/helpGuides/nt7/setprofittarget.htm

Let me know if I can be of further assistance.

[pstrusi]

Thank you for your quick answer to my question