J-Trader holds eCBOT stop orders as synthetic orders that are sent out as market orders when triggered. My understanding is that the stops are triggered when a trade crosses at the stop price but on a couple of occasions it looked like my stops were triggered as soon as the bid (for sell stops) or offer (for buy stops) matched the stop price and before any trades were executed at that price. Has anybody else seen this or am I misunderstanding the way this is supposed to work?
Check the thread below: http://www.elitetrader.com/vb/showthread.php?s=&threadid=41603&perpage=6&pagenumber=1 Some trades may not appear in dome.
Yes, I realize that not all trades are transmitted through the broker feeds. What happened in this case is that I entered a "Stop#" sell order just when the bid/offer changed and my order price happened to match the bid price. The order was immediately executed even though no other trades had been made at that price up until then. My non-broker data feed showed my trade as the only trade executed at that price until some time later. I was hoping somebody could confirm one way or another whether, using PatSystems J-Trader, held stop orders are executed when the stop price matches the bid or offer, or only executed when a trade crosses at the order price. I'm not so much interested in what happened with that particular trade as in how it will work in the future. Can anybody give a definitive answer on this?
If you don't think the software does not work on stops on the last trade trigger. you may contact GSD Pats at GSD@Patsystems.com.
With NinjaTrader you have the ability to optionally use advanced simulated stop. This allows you to delay the trigging of the stop order based on user defined volume settings. For example, instead of getting triggered when the last trade executes at your stop price you can delay the trigger until the bid size is less than 500 contracts. So if the market is trading at your stop price you will stay in the trade as long as the bid size is greater than 500 contracts. Email Mjimenez@globalfutures.com for a NinjaTrader test drive! Also, sign up for a Free Webinar that highlights all the features of NinjaTrader. Click on the link to register for the following events: http://www.hotcomm.com/virmeetCID_MI.asp?CID=GGHMW2&MID=D3ZURE# link for the 12/1 event http://www.hotcomm.com/virmeetCID_MI.asp?CID=GGHMW2&MID=RWMR3X# link for 12/15 event
the stop# is a local stop that is held locally, there is also a stop! which is a server stop which is held on a server in a data center which tends to ensure the fastest possible execution
If your broker does not provide you Jtrader with 'native' stops for eCBOT maybe the broker needs to open a ticket with Pats and ask for a modification on their SARA servers.
ECBOT offers native stop orders since October 2005. IB meanwhile have set up native stop orders for ECBOT: www.interactivebrokers.com/en/trading/exchanges.php?exch=ecbot
With Pats Jtrader, instead, you have to use the version 6.2.x to obtain the native stops on eCBOT using the Reflector. This is my experience upgrading from the 5.2.7 release.