SetStopLoss after order is missing

[ulisesguerrero]

Hello Chelsea,

Thank you for a possible solution. I thought of that approach, but then the whole account is again exposed to an endless stop (during the time of the stop being cancelled).
If there is an internet glitch at that time, the account is exposed to endless loss.

Is there no better way to avoid inflight execution?

Regards,
Ulises

[NinjaTrader_ChelseaB]

Hello Ulises,

The only guaranteed way to avoid an in-flight-execution is to cancel the first order, confirm the order is cancelled, before submitting the second order.

This would have nothing to do with an 'endless stop' (did you mean endless loop where an order is rejected, resubmitted, rejected, etc, as this would not be related to this at all)

[ulisesguerrero]

Hello Chelsea,

I meant stop-less. During that period of time where we are trying to cancel the stop, there's no way to guarantee the account is protected. An internet glitch + news event, that would destroy a trading account.

No safe way of avoiding inflight execution? I guess unavoidable risk?

Thanks
Ulises

[NinjaTrader_ChelseaB]

Hello Ulises,

That's the nature of risk with electronic trading.

You can risk two orders being filled, or you can risk one order being cancelled and a replacement order not being able to be submitted.

But the response time for the order cancellation message being received by ninjatrader and the submission for the replacement market order from OnOrderUpdate() is going to be minimal (unless the CPU is under heavy load). A full internet outage at that exact moment would be less likely than two orders being filled at the same time if the first is not cancelled first.

Theoretically, the same could happen if you are on the phone with your broker and the phone line goes dead.