OCO orders, Ninja and IB

May 28th, 2013, 03:17 AM

NinjaTrader

The statements above are inaccurate. With the exception of our "Simulated Stop" orders which is an optional feature in NinjaTrader, orders are not virtual but submitted to the broker/exchange.

I just posted an official response on this topic here in post #7 -

Showing Stop Orders in Ninja/cause you to be taken out

This above statement is incorrect.

First, thanks to @Fat Tails ( for his very thorough response. I would just like to provide a boiled down official response from NinjaTrader.

- With the exception of a NinjaTrader simulated stop which is an optional …

I was in a trade last night when the market closed-- totally my fault for not knowing in advance but thats besides the point. Anyway all of the sudden ninja announced "ordered cancelled'' I didnt know what happened. My stop and targets were gone from chart trader and I had no idea what happened to my position. Looked in TWS and sure enough i was naked 2 contracts of YM. So my atm stop and target were somehow cancelled by ninja when the market closed.

Spent an hour on live chat with IB and finally was able to use TWS to create an OCO that bracketed my position.

Lessons learned-- be aware of market closing times--this was a holiday--normally the market would not close at 11:30 --but NY was closed already for holiday.

Use TWS OCO to protect against possible naked positions. Actually its not a bad way do to an overnight trade.

Question--If my original order from Ninja was an OCO order would it have been cancelled when market closed or would it have stayed on the server??

happy ending--woke in morning to find my target filled

NinjaTrader · May 28th, 2013, 08:42 AM

asiaexpat

Question--If my original order from Ninja was an OCO order would it have been cancelled when market closed or would it have stayed on the server??

happy ending--woke in morning to find my target filled

By default with IB, NinjaTrader will submit OCO orders that reside on their server. You can check your NinjaTrader logs to see if this was in fact the case with your cancelled orders since you would not see a "Pending Cancel" order state for those cancelled orders.

May 28th, 2013, 09:03 AM

NinjaTrader

By default with IB, NinjaTrader will submit OCO orders that reside on their server. You can check your NinjaTrader logs to see if this was in fact the case with your cancelled orders since you would not see a "Pending Cancel" order state for those cancelled orders.

here is an excerpt from my logs at the time of "order cancellation"

i removed acct numbers etc... Im not sure what it means but I know that my stop and target were cancelled without my intervention

Type=StopLimit Filled=0 Fill price=0 Error=NoError Native error=''
5/27/2013 10:33:41 PM|1|32|Order= Name='Target1' New state=PendingChange Instrument='YM 06-13' Action=Sell Limit price=15328 Stop price=0 Quantity=2 Type=Limit Filled=0 Fill price=0 Error=NoError Native error=''
5/27/2013 10:33:41 PM|1|32|Order=' Name='Target1' New state=Accepted Instrument='YM 06-13' Action=Sell Limit price=15328 Stop price=0 Quantity=2 Type=Limit Filled=0 Fill price=0 Error=NoError Native error=''
5/27/2013 10:33:41 PM|1|32|Order=' Name='Target1' New state=Working Instrument='YM 06-13' Action=Sell Limit price=15328 Stop price=0 Quantity=2 Type=Limit Filled=0 Fill price=0 Error=NoError Native error=''
5/27/2013 10:35:03 PM|1|32|Order= Name='Stop1' New state=Cancelled Instrument='YM 06-13' Action=Sell Limit price=15301 Stop price=15321 Quantity=2 Type=StopLimit Filled=0 Fill price=0 Error=NoError Native error='Order Canceled - reason: (202)'
5/27/2013 10:35:06 PM|1|32|Order=' Name='Target1' New state=Cancelled Instrument='YM 06-13' Action=Sell Limit price=15328 Stop price=0 Quantity=2 Type=Limit Filled=0 Fill price=0 Error=NoError Native error='Order Canceled - reason: (202)'

excuse my ignorance on all of this- im still new to this

NinjaTrader · May 28th, 2013, 02:06 PM

asiaexpat

here is an excerpt from my logs at the time of "order cancellation"

i removed acct numbers etc... Im not sure what it means but I know that my stop and target were cancelled without my intervention

Type=StopLimit Filled=0 Fill price=0 Error=NoError Native error=''
5/27/2013 10:33:41 PM|1|32|Order= Name='Target1' New state=PendingChange Instrument='YM 06-13' Action=Sell Limit price=15328 Stop price=0 Quantity=2 Type=Limit Filled=0 Fill price=0 Error=NoError Native error=''
5/27/2013 10:33:41 PM|1|32|Order=' Name='Target1' New state=Accepted Instrument='YM 06-13' Action=Sell Limit price=15328 Stop price=0 Quantity=2 Type=Limit Filled=0 Fill price=0 Error=NoError Native error=''
5/27/2013 10:33:41 PM|1|32|Order=' Name='Target1' New state=Working Instrument='YM 06-13' Action=Sell Limit price=15328 Stop price=0 Quantity=2 Type=Limit Filled=0 Fill price=0 Error=NoError Native error=''
5/27/2013 10:35:03 PM|1|32|Order= Name='Stop1' New state=Cancelled Instrument='YM 06-13' Action=Sell Limit price=15301 Stop price=15321 Quantity=2 Type=StopLimit Filled=0 Fill price=0 Error=NoError Native error='Order Canceled - reason: (202)'
5/27/2013 10:35:06 PM|1|32|Order=' Name='Target1' New state=Cancelled Instrument='YM 06-13' Action=Sell Limit price=15328 Stop price=0 Quantity=2 Type=Limit Filled=0 Fill price=0 Error=NoError Native error='Order Canceled - reason: (202)'

excuse my ignorance on all of this- im still new to this

Thanks. The order cancellations were initiated by IB or, to put it another way. NinjaTrader did not initiate the cancellation. When NinjaTrader initiates a cancel, it logs a state=PendingCancel (that shows up in the log) right before a cancel request is sent to the broker. When we don't see this state, that means that broker initiated the cancel.

May 28th, 2013, 09:08 PM

NinjaTrader

Thanks. The order cancellations were initiated by IB or, to put it another way. NinjaTrader did not initiate the cancellation. When NinjaTrader initiates a cancel, it logs a state=PendingCancel (that shows up in the log) right before a cancel request is sent to the broker. When we don't see this state, that means that broker initiated the cancel.

Ok I suppose I have to take this up with IB to see why they cancelled my order.

Jigsaw Trading · May 29th, 2013, 12:11 AM

I use these with IB & Ninja every day. It's usually very solid.

OCO orders, Ninja and IB

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OCO orders, Ninja and IB