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Questions about stops/targets while holding/trading ES over night


Discussion in Emini and Emicro Index

Updated by rmejia
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Questions about stops/targets while holding/trading ES over night

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  #1 (permalink)
Canada
 
Experience: Intermediate
Platform: Sierra Chart, NinjaTrader
Broker: NT, SC
Trading: ES, NQ
 
Posts: 13 since Oct 2013
Thanks: 4 given, 2 received

Hello, I am using NT and IB , holding an ES contract after hours, I usually only trade intraday, but decided to hold a contract overnight. I assumed my stop and target would hold and I could continue the trade after hours, but it seems that my target and stop and not active when viewing the trade in NT. Any input would be helpful whether it be from experience or a link to another thread/article. Thanks

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  #3 (permalink)
Canada
 
Experience: Intermediate
Platform: Sierra Chart, NinjaTrader
Broker: NT, SC
Trading: ES, NQ
 
Posts: 13 since Oct 2013
Thanks: 4 given, 2 received


Just commenting on my own post, if the Time in Force for the order type in NT is automatically set to DAY, and I executed that trade during the day, is the stop and target automatically cancelled once the day session is over? meaning I'm effectively long without a stop or target over night? Again, never had to worry about this only trading intraday. I went ahead and placed a sell stop to cover. Newbie issues. Please post any tips or your experience with making the transition from intraday to longer position management, regarding execution issues and whatnot. Thank you

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  #4 (permalink)
Puerto Rico
 
Experience: Intermediate
Platform: thinkorswim
Broker: TD Ameritrade
Trading: ES
 
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Sniperfire View Post
Just commenting on my own post, if the Time in Force for the order type in NT is automatically set to DAY, and I executed that trade during the day, is the stop and target automatically cancelled once the day session is over?

Yes. At the end of the session the order expires if Day is the Time in Force.
Day Order Definition | Investopedia

If you want a permanent target & stop use GTC (Good til Canceled).
Good 'Til Canceled (GTC) Definition | Investopedia

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June 24, 2014


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