If an order is rejected, does it need to be canceled?

[Bormir]

Hello,
I am working on a strategy and need a bit of clarification.
In a strategy, inside onOrderUpdate(), if the IOrder.OrderState = OrderState .Rejected, does the order need to be canceled? The example code on the Forum does not directly address this condition.

This came up as an issue, because I am invoking RealtimeErrorHandling.TakeNoAction and must take care of all cases. When an order rejection is detected, I need to exit my position, and cancel all orders. The question I now have is: Do I need to cancel the order that was rejected?

I would really appreciate a clarification on this.

Thanks for your help,

Bormir

[NinjaTrader_Bertrand]

Hi Bormir, a rejected order is in a terminal state and would normally stop the strategy, so there's no need to cancel it with your setup.

[Bormir]

Hi Bertrand,
In my original posting, I indicated that I was invoking RealtimeErrorHandling.TakeNoAction, so that the strategy does NOT stop, or terminate. This is the source of my question!

When I am in the RealtimeErrorHandling.TakeNoAction mode, do I need to cancel an order if it was rejected?

Does this make sense?

Thanks for your help,

Bormir

[NinjaTrader_Bertrand]

No need to cancel the order, rejected is a terminal state, in your case the strategy will continue to run then.

[Bormir]

Thanks!

Thanks for the clarification Bertrand!