Order entry

[pkts17]

I'm thinking of using Ninja Trader for Bracket Orders. I use these for position trades that usually execute while I sleep. If I enter a strategy on the DOM with a stop loss and profit target, what happens if I go to sleep and turn off the computer?

On the demo, when I log off I have the limit order (lets say a buy) pending, waiting for the price to get up there and fill but I don't see that the OCO (stop and limit sells) have been submitted. If I turn off the computer before getting filled, are the OCO orders sent? I use IB.

Thanks!

[NinjaTrader_Jessica]

Thank you for your post.

Please review this link to see where your orders are resting.

http://www.ninjatrader-support.com/HelpGuideV6/AppendixA.html

[pkts17]

Thanks for the reply. The only order that shows up is green for the sell limit (to initate a short position). The buy limit (for profit) and buy stop (for stop loss) don't show up anywhere (not on the DOM or on the orders page)

Based on this, should I assume that Ninja Trader will not be able to execute my strategy? I'd like to use it, especially since I like the performance analysis info.

This is what I am trying to do:

I usually enter the order as a bracket order in IB TWS.

EG: ES price is 1400. I submit a sell limit order for 1405 with a bracket order OCO of buy limit 1390 and buy stop of 1410. With Interactive Brokers, once I hit transmit, the sell limit is transmitted and, once that order is filled, the buy limit and buy stop are submitted as OCO. I do not have to wait until the sell limit (to open the position) is filled. I can log off and turn off my computer and the three orders remain.

My understanding is that, in the same situation, Ninja Trader would leave the sell limit (to open the position) in but there would be no OCO submitted until the fill occurred. Is that correct?

Thanks again.

[NinjaTrader_Jessica]

You are correct. You would need the software to be open and connected in order for the OCO to be submitted after your fill as it is held locally until that time.

[telson]

SuperDOM interaction witn IB TWS

I feel dissapointed to hear that ATM orders (stop and profit targets) are held in the application until the original buy/sell order is filled. This is a big issue for me (I am evaluating to switch to NinjaTrader from other front-end I am now using), because one of the advantages of OCO orders attached to the original order, besides allowing you to close the computer and going to sleep (as pkts17 said), is acting as an insurance for risks such as internet conection problems, power sortages, PC crashes, etc.

Do you intend to implement in the future the feature of sending to the broker all ATM orders togheter? (or is it already implemented in new beta 6.5?)

Finally, one more question: if the order is sent directly through IB TWS, is it reflected afterwards in NT (SuperDOM, Charts), and then can it be managed as usual? (this way we could be sure the OCO orders are resting in the broker)

Thanks for your help,

[NinjaTrader_Ray]

90% of our supported brokerage technologies do not support an attached stop or target with the entry order. Your suggestion is on our list for future consideration. For clarification, stop/target orders are sent on partial fills of an entry order, NT does not wait for a completed fill. These orders are visualized in NT and can be managed just like any order.

[telson]

Thanks for your reply. Regarding my second question, I think I did not explain it very well (my english is not my native language). What I mean is: when you have NT and IB TWS both open, linked and working togheter, the normal procedure is to use NT to send the orders to IB, and then IB send them to the exchange, and we can manage the orders with SuperDom, Chart Trader, etc.

But, what happens if I DO NOT USE NT to create initially the orders, but use IB TWS only. The fact that both applications are linked means that those orders can be seen in NT SuperDom & NT Charts ALTOUGH THEY WERE CREATED IN TWS or, on the contrary, NT does not know anything about orders not created in it?

Hope this is more clear.

Thanks again for your help (and patience!)

[NinjaTrader_Ray]

All order submited, changed, cancelled in TWS will also be displayed in NinjaTrader.