Alert Actions - Submit An Order - Order Action Meanings

[vitalpilot]

Is there a reference to what the following order actions mean or what the differences are between them?

• Buy
• Buy to cover
• Sell
• Sell short

Thank you.

[NinjaTrader_PaulH]

Hello vitalpilot,

Thanks for your post.

A "Buy" order is to create a new long position.

A "Buy to cover" order is a buy order to close a short position.

A "Sell" order is a sell order to close a long position.

A" Sell short" order is to create a new short position.

The difference between a Buy and Buy to cover is that a Buy order will detect if there is an existing short position and would issue 1 buy order to close the position and then issue a second buy order to leave you in a long position. A Buy to cover will only issue 1 order to close the position.

The difference between a Sell short and Sell is that the Sell short order will detect if there is an existing long position and would issue 1 sell order to close the position and then issue a second sell order to leave you in a short position. A Sell order will only issue 1 sell order to close the position.

If you look at the "Orders" tab of the control center when having placed a few orders you will see the order action and order name, here is an example:

[vitalpilot]

Might I suggest the following more self explanatory and consistent Action Names?

• Buy Long (Open new long position)
• Buy to Cover (Close existing short position)
• Sell Short (Open new short position)
• Sell to Cover (Close existing long position)

OR

• Buy
• Buy to Cover
• Sell
• Sell to Cover

"To Cover" insinuates the closing of an existing position.

Thank you for all your help!

[NinjaTrader_PaulH]

Hello vitalpilot,

Thanks for your reply.

I will write up a feature request for this and will update this thread when I have further information.

Feature Request Disclaimer.
We receive many requests and cannot reasonably implement all requested features or changes. Interest is tracked internally and if enough interest is tracked, it would be weighed against how feasible it would be to make those changes to consider implementing.
When new features are implemented, they will be listed in the Release Notes page of the Help Guide. The ID number will be different than the internal feature request tracking ID, but the description of the feature will let you know if that feature has been implemented.
Release Notes - https://ninjatrader.com/support/help...ease_notes.htm

[bltdavid]

Might I suggest the following more self explanatory and consistent Action Names?

• Buy Long (Open new long position)
• Buy to Cover (Close existing short position)
• Sell Short (Open new short position)
• Sell to Cover (Close existing long position)

I think current NinjaTrader names are probably fine.

If you're looking for "better" names, these names below (used by
other platforms, and therefore, competitors) are arguably even
more self-explanatory and consistent,

BuyToOpen -- Open new long position
SellToClose -- Close existing long position

SellToOpen -- Open new short position
BuyToClose -- Close existing short position

[vitalpilot]

I agree that these names are absolutely clear and there is no way to mistaken what they do or be unclear as to their function:

BuyToOpen -- Open new long position
SellToClose -- Close existing long position

SellToOpen -- Open new short position
BuyToClose -- Close existing short position

Maybe even better:

BuyToOpenLong
SellToCloseLong

SellToOpenShort
BuyToCloseShort

Generally in UI/UX, if someone has to ask, the UI/UX could be better.

[NinjaTrader_PaulH]

Hello vitalpilot,

The Feature request has been identified as SFT-5166, "Action Names in Alerts window for submitting orders".

Thanks for your interest in improving NinjaTrader8.

[jbradrick]

Its been almost 5 years. Perhaps it time to update the names. Speaking from experience newcomers still suffer...