NT for SWING Trading - Essential Requirements

[waverider]

A lot of people are happy with that option as no one other than them sees their order waiting around, so they feel more secure than having the order at their broker or exchange.

Hi Sledge, with all due respect, I'm not sure I see any sense in that. The OCO order would rest with the broker, not the exchange, and if you're worried about your broker seeing your orders, then you've got the wrong broker. For an exchange traded product, this wouldn't matter as you're broker wouldn't be able to manipulate the market. For swing trading, even with a dodgy FX broker, you'd still be safer having a stop in place while you're asleep than worrying about a broker going after a stop... So as I see it, it is FAR more "secure" to know that your orders are held on the broker's servers, safely, rather than locally on your PC, which could crash overnight.

Maybe you have other insights...

Wave

[waverider]

IB and NT

Hi There,

If IB (TWS) doesn't allow the user to place a single buy order and have 3 targets, then if I were to execute that order through NT, I assume it would turn it into 3 separate orders in TWS? (Charging commission for 3 trades?)

Can anyone confirm that's the way it works?

If anyone is aware of how to attach multiple bracket orders to a trade in TWS (so that one can have multiple targets for a single order) then I'd love to know.

Cheers,

[NinjaTrader_Jason]

Hello waverider,

If you submit an order for 3 contracts in NinjaTrader to your IB account, it will show up as an order for 3 contracts in TWS as far as I know. I do not see why it would show up as 3 separate orders. I cannot tell for sure as I do not have an IB live account I can test. Perhaps other users can comment on this.

I also suggest to contact IB for clarification regarding your commission costs. Check if there is a difference when submitting 3 separate orders or 1 order with a quantity of 3.

[jitterbug]

is this true for forex orders as well? (all atm strats or are we just talking IB and CFD`s here?)...
I was under the impression that ATM legs (target, stop loss) were at the exn (Forex) in "accepted" mode. So if you lost connection / or turned off Ninjatrader, at least your stop loss was protecting you. Is this not the case?

if this is not the case, can a ninjascript be created to override this (either own created ATS or modifying the ATM) so the stop loss can be at the exchange?

[NinjaTrader_Jason]

Yes, once orders receive an 'Accepted' or 'Working' status, they reside at the exchange or at the broker servers. If NinjaTrader is shut down or disconnected, orders still execute as per market dynamics. You can view the order status in the Control Center-->Orders-tab, State column. More information can be found at the link below.

http://www.ninjatrader.com/support/forum/showthread.php?t=5349&highlight=order+reside