Stop loss and target location

[gofortips]

Let's assume I have an open position and my strategy put a stop loss and a target orders. Where are those orders located, locally in my pc or in the broker's system?

[NinjaTrader_Jason]

Hello gofortips,

Once orders receive an 'Accepted' or 'Working' status, they reside at the exchange or at the broker servers. If NinjaTrader is shut down or disconnected, orders still execute as per market dynamics. You can view the order status in the Control Center-->Orders-tab, State column. More information can be found at the link below.

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

Please note that OCO functionality resides in NinjaTrader for most broker technologies (except Continuum/CQG, IB and TD Ameritrade). So if you have an OCO order set (stop loss and profit target) active and you lose connection or NinjaTrader is shut down, subsequently one of the OCO orders fills at the exchange, it will not cancel the other OCO order. NinjaTrader needs to be running and connected to send the order cancellation request.

The same applies when you have an entry order active, which was submitted with an ATM strategy atttached. If you are disconnnected and the entry order executes thereafter, no ATM orders will be sent since NinjaTrader is not connected.