Fill or Kill

[rcsingleton]

Fill or Kill - Either execute the entire order immediately or not at all.

Can I simulate the "fill or kill" order feature in an automated script?

A 4 contract long position is active

The script issues an ExitLongLimit(Position.Quantity,..)

Only 2 contracts are filled at the limit price and the other 2 are still running.

I want to replace that with a "fill or kill" strategy.

I want to either exit all 4 contracts at the limit price, or none at all.

Is there a way to do this?

[bltdavid]

I find it interesting that you're asking about "Kill or Fill" in the context of exiting your position.

I have always understood "Kill or Fill" to be an order type designed for entering a position.

For example, Investopedia says,
"The purpose of a fill or kill (FOK) order is to ensure that a position is entered at a desired
price. Without a fill or kill designation, it might take a prolonged period of time to complete
a large order. Because such orders are typically placed for large quantities, prolonged
execution of the order has the potential to cause significant changes to a stock's price
and causing market disruption."

As far as I know, neither NT7 or NT8 support this order type.

[NinjaTrader_Jim]

Hello rcsingleton,

Thanks for your post.

NinjaTrader 7 and NinjaTrader 8 do not support Fill or Kill orders. A Limit order may leave some contracts in open if it receives a partial fill, and market conditions do not allow the rest of the order to fill.

If you want to guarantee your exit once the market touches the price you want to exit, you could use logic to call ExitLong() once the price touches. If consider using NinjaTrader 8, you could use Market If Touched orders instead of Limit orders which simulate this behavior on your PC. (Once NinjaTrader sees the price touches, the Market order is submitted. The order does not reside at the exchange.) These orders may incur slippage as opposed to Limit orders, however.

Let us know if you have any additional questions.