Order Placement in OnMarketData?

[zeller4]

Hello,

I've been developing a strategy with Unmanaged = true and initial entry orders being placed in the OnBarUpdate section.

I saw this section in the help guide:http://www.ninjatrader.com/support/h...marketdata.htm

I'm doing test prints inside OnMarketData and OnBarUpdate to see the differences of the data stream to the output window. I'm using an exposed variable from another indicator for the printout. Here's a snapshot of the results where OnMarketData gives 2 times the quantity of OnBarUpdate feedback using COBC = false. I've seen even more (4 or more). I would have thought they would have given similar results.

http://screencast.com/t/OGQ5MDg3MTE

Would the submission of orders work well inside the OnMarketData section?

If this is okay to use here, are there other "SubmitOrder" considerations related to OnMaketData or OnBarUpdate to keep in mind in my strategy?

Best Regards,
Kirk

[NinjaTrader_RyanM1]

Hello zeller4,

The main thing to keep in mind is the conditionals prior to placing these orders. You would want to be careful accessing bar objects outside OnBarUpdate(). The timing of the OMD event is not synced with changes to bar objects.

[zeller4]

Thanks Ryan for the quick response.

So, if I have an ExposedVariable from another indicator, could I use that as a trigger?

ie.

 
triggerprice = ...ExposedVariable;
if (e.MarketDataType == MarketDataType.Last)
{
 
if (e.Price == triggerprice) SubmitOrder(....
 }

Kirk

[NinjaTrader_RyanM1]

Hi Kirk,

Yes, you can use exposed variables from another indicator as a trigger in OnMarketData().