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stop and target order submission

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    stop and target order submission

    From the NT guide http://www.ninjatrader-support.com/H...tml?Overview36 I read that Stop and target orders are submitted to the market as soon as fills come in from an entry order.
    If in a Strategy I use SetStopLoss() and SetProfitTarget() and entry with EnterLong() I know I will submit a market order to buy, and after the fill the stop and profit are submitted.

    My question is, if EnterLong() in this case triggers three orders with one command, is it possible that the market order reaches the broker or exchange while the stop or profit do not?

    In other words, where do the stop and profit reside on my PC until the state of the order on my PC becomes "Filled", and then the they are fired to the broker/market?

    The motivation of course is that we want to be sure that, due to for example some network problems, we have taken a position without having the chance to submit the stop and profit.

    Thanks a lot for your support.

    #2
    mdm72,

    As your EnterLong() reaches part filled/filled the exchange reports it back down to NT. When NT receives this then it fires off your stop/targets. If you lose internet before NT receives the filled state you will have an unprotected position. If you lose internet the exact moment NT receives the filled state it can still be possible that the stop/targets do not make it through to the exchange.

    If you lose internet you will want to contact your brokerage immediately to handle any open positions and open orders.
    Josh P.NinjaTrader Customer Service

    Comment


      #3
      Thank you for the explanation. Is there a way to work this around, i.e. make sure that the three orders (buy,stop,profit) are either accepted or rejected together?

      What about using EnterLongLimit(), with stops and profits based on the limit price? Sure we then have the additional issue of handling possible partial fills, but this is a secondary problem compared to the risk having unprotected positions.

      Comment


        #4
        There is no way to do such a thing. You can't expect to submit 3 orders and get them all back at the same time. What if you happen to get your entry order cancelled and in a fast moving market all of a sudden it hits your stop and gets you in short when you shouldn't even have a position?
        Josh P.NinjaTrader Customer Service

        Comment

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