Ninja Trader - order/stop loss question

Discussion in 'Trading Software' started by pkts, Jan 25, 2008.

  1. pkts


    I'm thinking of using Ninja Trader for Bracket Orders. I use these for position trades that usually execute while I sleep. If I enter a strategy on the DOM with a stop loss and profit target, what happens if I go to sleep and turn off the computer.

    When I log off I have the limit order (lets say a buy) pending, waiting for the price to get up there and fill but I don't see that the OCO (stop and limit sells) have been submitted. If I turn off the computer before getting filled, are the OCO orders sent?

  2. just leave the computer on, problem solved.
  3. I don't use NT for position trades, I use it purely for intra-day scalping, so I don't have experience with the situation that you're describing here.

    But if:
    a) the Time In Focus: is GTC
    b) the order has been submitted, and
    c) the order resides on the broker's server (even if your breaket order hasn't been hit) it should execute and everything should work correctly.

    To confirm what I've written, just drop them an email. They will be more than happy to help you resolve your question, even if Ray himself needs to give you a response.

    Good luck.
  4. pkts


    I'd be worried that the computer crashed and never sent the stop.
  5. pkts


    Thanks for the response. I'd be using it mostly for 1-2 day trades mostly but 30% of my trades are put on when they fill when I sleep.

    Unfortunately, I've been getting very little sleep lately and I made a mental error on the ES last night....$600 loss when I should have had a $1400 gain :(
    I accidentally flipped the prices of my buy stop and limit on the short position. They both filled and I went from short to long

    I was thinking that Ninja Trader would stop me from making such a silly mistake. Plus I like the performance analysis.

    Because I'm just in demo mode, I don't know what orders Ninja sends to IB TWS. But, based on the logs, it doesn't look like it sends the OCO orders until the original is filled. Would you recommend any other program? I'll send support a question.

    Thanks again.
  6. Yeah, concentration and focus are what are required for all traders when executing. That's why I like to scalp for short periods of time and close-up shop when I reach my quota, I've had plenty of days where I "made it and gave it back", now I just shoot for consistency and absolute 100% focus on the task at hand ... like driving a car at the race track, you know.

    That's why I personally love what NinjaTrader does for my trading.
    With IB you actually have several options.

    1. NinajaTrader
    2. Button Trader
    3. Zeroline Trader

    Do some homework this weekend and read over the specs for the different software. You can also email the owners and they'll be happy to respond to whatever questions you might have.

    FTR, I think ButtonTrader is the Best of Breed, but my brokerage doesn't offer it, so I trade with NT and I'm very happy with how it's working for my needs.

    NinjaTrader's orders do reside on IB's server when implemented, btw.

    Hope that helps.
  7. pkts


    Thanks, I just did. They replied very fast. Unfortunately it won't work since Ninja Trader holds the OCO orders locally until the parent order is filled.

    Here's the link in case anyone else wonders:

    Pity, since I know Bracket Trader can do this...I would have liked to have the performance analysis info
  8. pkts


    Thanks MandelbrotSet,

    Very helpful. I'm the other end of the spectrum to a scalper! :) Funny how different personalities fit different time frames. I stay the freshest when I only trade when I feel compelled to...certainly not daily. I think its just this week that exhausted me. I found it very fun to watch but I stayed up late watching Europe and got up early for New York so I was fried by Friday. Lesson learnt.

    I agree that Ninja Trader is a great front end...I'd like to use it but this unique need of mine causes some problems. Pity they can't have the option to send the bracket order all at once before the parent order is filled. That's the way it gets entered on Interactive Brokers TWS anyway. Oh well.

    I took a look at Zero Line trader but it seems to have the same issue. I'll look at Button Trader but it seems like overkill for me especially with the 90$ pricetag.

    Though I can guess that this mental error cost me twice the Ninja Trader lifetime fee.
  9. pkts


    Just want to note that I tried out Button Trader and they offer presending of child orders in bracket order.

    My god, there is a lot to that program! If you can't be a good scalper with BT...I don't know.
    #10     Jan 26, 2008