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NT users: know your DOM!
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NT users: know your DOM!

  #1 (permalink)
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NT users: know your DOM!

Maybe someone will read this and it will save them some money some day.

NT has great one-click management for SL and TP orders. Once the position is open, orders can be moved with a single click, and allows for very fast trade management, which is great in a volatile market.

However, just before the CL pit close, around 2:20 or so IIRC, I accidentally clicked my stop order button (middle mouse) twice, and for whatever reason (I think the market moved and my second stop order could not be filled), I got an error or two, and my stop and target orders were cancelled. So, I am long, with no protective stop loss.

Luckily, I calmly placed the orders and all was fine, BUT in moments like this when there is volatility around the session close (thankfully there was not much Friday), and you're in an open position, it pays to remember how to manually do this. Remember to practice emergency stuff like this in a simulator from time to time, so you can be sure you can effectively manage the trade. Here's what I did:

1) be sure that "none" is selected under ATM strategy

2) right-click and select "OCO"

3) especially if it's a panic or tense situation, remember to look at the bottom of the price column to see if you're long or short--it pays to be safe; place the stop order first using the middle mouse button, in the appropriate column, and on the correct side of the market price (below and on the right for long, above and on the left for short)

4) again, this may sound "duh" but it's amazing how stupid we can get when we're in a trade--place the limit order in the SAME column as the stop loss, using the left mouse button, and again, please do it on the other side of the current price

5) if you want to move either order, remember that you now must click the order, and click again where you want to move it--don't click the middle column as you normally would for an ATM, and don't single click in the right or left column where you want to move the order or you risk opening another position! Click the order first to move it, and then again where you want to move it to


I always manage trades using preset SL and TP set in the ATM, and single-click order modification, and I suspect that many others do as well. Stuff like this rarely happens, but are you prepared for when a situation arises that forces you to use your platform in a way that you normally do not? It helps to know things inside out so that you can be safe when unexpected things happen.

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  #2 (permalink)
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this is my panic button

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  #3 (permalink)
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ya, the flat will close all over your open positions across the board on all mkts.. the close button only works on the market that your currently working with..

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #4 (permalink)
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I have NEVER been a fan of a screen that jumps around like that. Chart trader is so much better to me.

Yes, file - 'flatten everything' is a good way to deal with anything uncertain. I don't even wait to figure things out as I have had so many stupid mistakes.

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cory View Post
this is my panic button

That's certainly one way to do it--however, I preferred in this case to actually manage the trade, as I had the few seconds it took to get the stop order in, and it turned out to be a profitable trade so I'm glad I didn't panic.

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cory View Post
this is my panic button

Just to clarify...You will want to press the "CLOSE" button. The "FLAT" label does not do anything if pressed, it just indicates current account/instrument position.

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NinjaTrader View Post
Just to clarify...You will want to press the "CLOSE" button. The "FLAT" label does not do anything if pressed, it just indicates current account/instrument position.

you are right, I haven't had a need to use it, turn out I have to right click on DOM and select flatten everything.

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NinjaTrader View Post
Just to clarify...You will want to press the "CLOSE" button. The "FLAT" label does not do anything if pressed, it just indicates current account/instrument position.

this flat button?
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dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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  #9 (permalink)
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I have something happening to me, very occasionally that I never did figure out.

What happens is when I use the close button, I somehow end up with a trade in the opposite direction. I am not clicking reverse here but that is effectively what seems to happen.

I can't reproduce this at will but it happens to me perhaps once every 2 weeks.

Any thoughts on what I might be doing to cause this?

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  #10 (permalink)
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DionysusToast View Post
I have something happening to me, very occasionally that I never did figure out.

What happens is when I use the close button, I somehow end up with a trade in the opposite direction. I am not clicking reverse here but that is effectively what seems to happen.

I can't reproduce this at will but it happens to me perhaps once every 2 weeks.

Any thoughts on what I might be doing to cause this?

I've been typing for a hour and can't seem to write what I want to say. But it sounds like you maybe hitting the CLOSE button to end a trade when prices are damn near at your target order resting in the market.

Things happen fast in the markets but it is not instantaneous. Let's assume I'm in a long position and have a target (sell order) resting in the market. Prices are damn close to my target (3 or 4 ticks) but for some reason I think my target is just out of reach or "that's close enough" and I hit the CLOSE button to take profits (sell at the market) and the trade is closed. BUT the original sell target is still sitting in the market. The closed out trade has to be reported back to the broker BEFORE the order from the broker to cancel the TARGET can be sent out. If prices jump that 3 or 4 ticks before the original target sell order is canceled, it will be filled and I will be short a naked position (no stop no target) we're talking 1/4 to 1/2 of a second for all this to happen, but I have done exactly what you've described. The alternative of clicking the close button is to drag the target UNDER the market.

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