Connection lost with ninjtrader brokerage Continuum
Yesterday Friday Ninja trader lost more than an hour the connection to ninjatrader continuum. I am lucky that all my profit was realized and all my orders are closed.
But for thinking into the future, the same thing can happen again, because CQG is not a stable data provider, so what can be the solution for your customers which have now ninja trader brokerage with you and CQC Continuum as data provider?
Ninjatrader use as clearing firm Dorman, so is there a free software tool to close open orders when it is not possible to connect with ninja trader?
Or offers CQG also a free software tool to close open orders? But for all this thinking it must be possible to connect in this second software with the same account connection?
What can be here the solution (please do not say Rhitmic)?
The following 3 users say Thank You to schranzi9 for this post:
I personally had many problems with CQG when I tried it a few months back. Disconnects were happening all the time. I had switched from rithmic because wanted to try the server side OCO. But ended up switching back to rithmic as it is rock solid from a connection standpoint during trading hours. I know you did not want to hear about rithmic but it should be considered as an option.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
The following 4 users say Thank You to liquidcci for this post:
Hi, I had a hope that ninjatrader can answers right my questions, they do it but wit a bad result:
"There is no other application to allow close orders when you lost the connection with ninja trader and continuum connection. We always recommend that you call the trade desk to manage your positions".
WHAT A SHAME.
This means you MUST use Rhitmic as data feed to have a emergency option to close your open order with the Rithmic Trader tool. When you use CQG or Continuum it is your own problem that you can not close the open order when ninjatrader lost the server connection to CQG.
And that you can call the ninja trader trading desk will also not helpful when hundreds of traders do this at the same time like last Friday.
So using Rithmic can be the only solution for this ninjatrader connection problem? How long must be as trader a toy in the hand of the brokerage?
The following user says Thank You to schranzi9 for this post:
You must login into rihtmic trader with your same user and pw as you use in NT7, and you can see all your active trades and historical trades including the commission you had paid. And the great thing was, you can do it also parallel as your NT7 is connected.
So when you lost the data feed or the connection to ninja trader, what sometime happen, you can also handle all orders in rhitmic trader.
The following 5 users say Thank You to schranzi9 for this post:
I do the same with rithmic.
I have Rtrader pro connected at same time and Multicharts connected on another computer in case the computer goes offline.
I keep Rtrader Pro on at all times. It has excellent spread capabilities and does not use hardly any resources. Pretty good for a free platform.
At AMP futures, I believe you can get second set of credentials for CQG to connect from second platform if needed. The second set costs around $10 I think. I am not sure if this can be done at other brokerages.
It is really mandatory to have at least two independent trading brokers/technologies in case of an outage. What I do if I loose my connection with my main platform while I have active orders, is to immediately place hedging orders with my backup platform. Its faster than calling a trading desk. Still not foolproof such as if there is a system wide problem affecting all platforms but that is much less likely.
I believe that the exchanges require now that companies to have a different log-in for every 3rd party screen you execute from. But, it could all could be tied up to the same account in case one software malfunctions.
PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.