Unmanaged order management: Handling stops

[koschba]

Hi there,

when using the unmanaged approached, what is the "proper" way to deal with stops?

When a position is closed based on a previously set stop, will the Filled field of the respective IOrder instance drop to 0?

Does this trigger an OnExecution event?

Is there a direct way to access the broker / account position information? If not, how do I properly update my own position tracking after a connection loss?

TIA!

[NinjaTrader_AdamP]

koschba,

Any order when filled would trigger an on-execution event. As such you can check to see if your stop is triggered there.

To get account info you can use : http://www.ninjatrader.com/support/h...countvalue.htm

Please let me know if I may assist further.

[koschba]

Adam,

thanks for your reply.

To clarify, please assume the following order

myOrder = SubmitOrder(0, OrderAction.Buy, OrderType.Stop, 1, 0, 5, ...);

gets filled at 10$.

This triggers an OnExecution event,
myOrder.Filled now is 1 and
myOrder.OrderState == OrderState.Filled

I assume, this is correct so far.

Assume, the price drops to 4$.

You wrote, filled orders would trigger OnExecution event. My order was already filled.

Do I get an OnExecution event again if the stop is hit? If yes, does the OnExecution event argument contain a reference to myOrder, null or something else?

Does the OrderState remain Filled?

Thanks.

[NinjaTrader_AdamP]

koschba,

Since a stop order is a order that exists on the exchange it still gets filled.

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?onexecution.htm

Using the sample in the help guide, you would see something printed like this :

Execution='NT-00004' Instrument='ES 03-12' Account='Backtest' Name='Buy' Exchange=Default Price=1275.75 Quantity=1 Market position=Long Commission=4.5 Order='NT-00008' Time='1/3/2012 5:05:00 AM'

Execution='NT-00005' Instrument='ES 03-12' Account='Backtest' Name='Stop loss' Exchange=Default Price=1274.5 Quantity=1 Market position=Short Commission=4.5 Order='NT-00009' Time='1/3/2012 5:10:00 AM'

The unmanaged approach should still trigger executions but you would need to track the orders closer.

This is when a buy resulted in getting stopped out.