Unmanaged vs Managed orders - NinjaTrader Programming | futures io social day trading
futures io futures trading


Unmanaged vs Managed orders
Updated: Views / Replies:8,579 / 34
Created: by Xeno Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Unmanaged vs Managed orders

  #1 (permalink)
Elite Member
UK
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Mirus/Zen
Favorite Futures: Futures - bonds, currencies, index
 
Posts: 288 since Oct 2010
Thanks: 70 given, 267 received

Unmanaged vs Managed orders

Hi,

I'm getting a bit sick of managed orders in Ninja and am thinking of switching to unmanaged.

Did anyone do this switch and decide it was really worth it, to the extent that you now always use unmanaged?

I know the pitfalls, and my programming is fine. In fact, I could see the benefit have having a whole seperate class with its own unmanaged order submission, tracking, order states, and shadow methods for position/order/execution update etc etc. Did anyone go down that path?

[as a slight aside, Ninja keep saying that they may enhance their managed approach, but that there's a lot going on behind the scenes and it's a lot of work. well, OK, I can see some of that, but it's sounding to me like they're making it out to be more than it is to not get round to any enhancements]

thanks
Xeno

Reply With Quote
The following user says Thank You to Xeno for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
 
NinjaTrader's Avatar
 
Posts: 1,260 since May 2010
Thanks: 153 given, 1,890 received



Xeno View Post

[as a slight aside, Ninja keep saying that they may enhance their managed approach, but that there's a lot going on behind the scenes and it's a lot of work. well, OK, I can see some of that, but it's sounding to me like they're making it out to be more than it is to not get round to any enhancements]

thanks
Xeno

There is no exaggeration here, the code is complex and thus sensitive to any changes. At the end of the day, the "unmanaged" was introduced for advanced developers who wish to code at the lowest level giving them full creative control. At the end of the day, if you are limited by the managed approach you should go to unmanaged.

Reply With Quote
The following 2 users say Thank You to NinjaTrader for this post:
 
  #4 (permalink)
Elite Member
Israel
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: pfg
Favorite Futures: eminis
 
Posts: 323 since Jun 2009
Thanks: 6 given, 206 received

The only benefit of using "unmanaged" is the ability to submit Long and Short at the same time, even that can be manipulated in the "managed".

Reply With Quote
The following user says Thank You to baruchs for this post:
 
  #5 (permalink)
 Vendor: www.coroin.com 
Galveston ,TX
 
Futures Experience: Intermediate
Platform: NT7
Broker/Data: Zaner
Favorite Futures: Futures
 
Posts: 386 since Mar 2010
Thanks: 364 given, 433 received

you answered part of your question in the asking ... if managed is limiting, it's time to take the plunge and go unmanaged.

as for whether others are doing it ... yes, i really like the unmanaged approach, personally. i have switched over.

cheers,
-e

Reply With Quote
The following user says Thank You to eman for this post:
 
  #6 (permalink)
Elite Member
UK
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Mirus/Zen
Favorite Futures: Futures - bonds, currencies, index
 
Posts: 288 since Oct 2010
Thanks: 70 given, 267 received


NinjaTrader View Post
There is no exaggeration here, the code is complex and thus sensitive to any changes. At the end of the day, the "unmanaged" was introduced for advanced developers who wish to code at the lowest level giving them full creative control. At the end of the day, if you are limited by the managed approach you should go to unmanaged.

Thanks for the answer.

The main critical considerations listed are rejections, overfill and connection/resync, much of which is sort of handled in unmanaged anyway.

As an example, I can't really see too much problem in adding the bracket (longstop, shortstop) to managed. One can cancel the other. If one is rejected, you still have to handle what you want to do. If both get filled, it largely means one has acted as stop for the other, which I think would be acceptable or even desirable for most people.

What other complex stuff is to be handled for the bracket, which seems to be the most requested feature anyway?

Reply With Quote
 
  #7 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
 
NinjaTrader's Avatar
 
Posts: 1,260 since May 2010
Thanks: 153 given, 1,890 received


Xeno View Post
Thanks for the answer.

What other complex stuff is to be handled for the bracket, which seems to be the most requested feature anyway?

You are welcome. I am not sure what you mean by your question?

Reply With Quote
 
  #8 (permalink)
 Vendor: www.coroin.com 
Galveston ,TX
 
Futures Experience: Intermediate
Platform: NT7
Broker/Data: Zaner
Favorite Futures: Futures
 
Posts: 386 since Mar 2010
Thanks: 364 given, 433 received

@Xeno - say i wanted to enter a trade with an initial target of +20 and a protective stop of -10. after the trade moves +5 in my favor, i would like to tighten my stop to -5, leaving the target of +20 un-touched. if the trade continues to move in my favor, after +12 of profit, i remove the target and tighten my stop to +2 and then on each and every uptick, i trail my stop up until the market retraces and takes me out.

this is a hypothetical example that illustrates how i have used the unmanaged approach. hope this helps.

cheers,
-e

Reply With Quote
 
  #9 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received


eman View Post
@Xeno - say i wanted to enter a trade with an initial target of +20 and a protective stop of -10. after the trade moves +5 in my favor, i would like to tighten my stop to -5, leaving the target of +20 un-touched. if the trade continues to move in my favor, after +12 of profit, i remove the target and tighten my stop to +2 and then on each and every uptick, i trail my stop up until the market retraces and takes me out.

this is a hypothetical example that illustrates how i have used the unmanaged approach. hope this helps.

cheers,
-e

Can I just ask, what part of that example cannot be coded within the managed order scenario?

I haven't tried it, but I would have thought that SetStopLoss() allows you to adjust the stop, and capturing the target IOrder for the SetProfitTarget in the OnOrderUpdate event will allow you to cancel the order. Or is that over-optimistic?

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
 
  #10 (permalink)
Elite Member
Israel
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: pfg
Favorite Futures: eminis
 
Posts: 323 since Jun 2009
Thanks: 6 given, 206 received



Quoting 
@Xeno - say i wanted to enter a trade with an initial target of +20 and a protective stop of -10. after the trade moves +5 in my favor, i would like to tighten my stop to -5, leaving the target of +20 un-touched. if the trade continues to move in my favor, after +12 of profit, i remove the target and tighten my stop to +2 and then on each and every uptick, i trail my stop up until the market retraces and takes me out.

This has nothing to do with managed<>unmanaged. You can do it the same with managed.

Reply With Quote
The following user says Thank You to baruchs for this post:

Reply



futures io > > > > > Unmanaged vs Managed orders

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
NEW UNMANAGED STRATEGY PROJECT / NT7 zeller4 Elite Automated NinjaTrader Trading 14 January 19th, 2012 01:22 PM
Unmanaged Orders example for NT7 revtrader NinjaTrader Programming 8 August 5th, 2010 06:17 PM
Has anyone used Ninja unmanaged orders to place IB TWS OCA g PaulCahill Reviews of Brokers and Data Feeds 1 May 19th, 2010 10:52 AM


All times are GMT -4. The time now is 06:42 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.12 seconds with 19 queries on phoenix via your IP 54.145.16.43