Can I turn off my PC?

[joely]

Hey

Using FXCM and reading the post Where do your orders reside,

Can I turn off my PC after placing the three orders below and expect them to be carried out if the targets are hit?

//We assume the price is right now 95
EnterLongStop(100, "long1");
SetStopLoss("long1", CalculationMode.Price, 90, false);
SetProfitTarget("long1", CalculationMode.Price, 105);

[Harry]

You will have different cases:

(a) you turn off your PC before entering long

In that case only the long stop will be executed, and you will have a naked long position. NinjaTrader places the bracket orders after a position has been entered via the long stop, but since you switched it off, it cannot do that.

(b) you turn off your PC after the long position has been entered. In that case NinjaTrader has already transmitted the profit taking limit order and the stop loss order to FXCM. When you switch off NinjaTrader, both will be executed. However, the OCO logic will not be maintained. For example the following may happen:

-> you enter long (NinjaTrader still running), NinjaTrader set the bracket
-> you switch off NinjaTrader
-> now price moves to 105 and your position is automatically closed with a profit, however your stop loss order is not cancelled
-> now price moves to 95 and the stop order is executed resulting in a net short position
-> price moves back to 105, and you have made a significant loss

There are brokers which offer an OCO functionality within their API. With these brokers you could switch off NinjaTrader once the bracket order has been set. But I do not know any broker who would accept a contingent order, that is setting a bracket only after a long stop has been hit.

If you want to run automated strategies, you should consider renting a virtual private server (VPS). This is possible at a moderate fee of about $ 70 per month. You can then use it for running automated strategies. But would not do that with CFDs.

By the way, the reason that the OCO orders do not run, after you switch NinjaTrader off, is that NinjaTrader is an independant front end software and not just a user interface. For example, if you trade via MetaTrader, you basically have a user interface on your PC and everything else is done on the broker's server. This also means that the broker can run automatic evaluations of all positions and orders, transmit this information to the trade desk and then trade against you. Orders residing with NinjaTrader are unknown to the broker, and so are your algorithms.

[joely]

Thank you, Harry!!
That was extremly informative and more detailed than I could have asked for.

The reason I was looking for the contingent order functionality, was that I was/am under the impression that FXCM Trading Station could do exactly that. I am guessing that their platform is just a userinterface as well then, as that would simulate such functionality.

Am I getting the price updates fast enough that I can rely on placing the protective orders on my strategy PC, after the entry order is executed? I am thiking FOREX trading, which has huge volatility.

Thank you again!

[Harry]

I do not use FXCM, so I will refrain from making comments about the speed and reliability of their data feed. Please wait for someone else to answer.