You can kinda do that now with any trading platform. NT8/7 included. The issue with the broken connection is that you cannot place/change orders so it is too late to try and reduce risk. The concept I see here is to setup a "Trailing stop" at your risk level. NT8 and possibly your broker will continue to move it during a live session (maybe 30 ticks away from current or whatever), but if the connection is broken, and your broker has the feature, the broker will move the trailing stop if you loose a connection.
Can't hurt to have a "we should never reach this price" stop loss in place for data-outages.
Normal NT stops(not sure about strategies like trailing) are afaik placed at broker/exchange, so a potential outage should not affect that safety measure even when you disconnect(ensure its a market stop, not limit order).
However, this requires you to manually set a stop after placing an order- and while i always do this(at a "disaster level") it would be nice to know that if something happened right between the order placing and stop placing(or i just got sloppy during a small scalp), you would still be safe. Or if you have a pending limit order, maybe you would want to cancel it when a DC occured.
Your datafeed provider should in theory be able to register when a connection is lost, possibly after a small timeout period. And i know CQG allows you to log in to their web interface and flatten orders directly there so it seems possible to me.
It might however be something that the datafeed provider and NT would have to cooperate on, so initially maybe just possible for us NTbroker customers.
As I remember, depending on the broker, stops are resident on the broker's server or on the user's computer. Somewhere on the NT forum there is a descriptive list how resting orders are handled for each supported broker. It is embedded within a thread.
Your client cant transmit anything when you lose connection or get a power outage etc.
But a connection is between 2 points: you and your datafeed. When you start NT, you contact datafeed servers and start requesting datafeeds that are on your charts. Your datafeed provider starts feeding you this data. When you disconnect, the datafeed provider will know that suddenly no data is being received- and it will stop pumping data to your client that is no longer "there".
So in theory, it should be possible for the datafeed provider to notice when you disconnect- and then submit stop/close orders on your behalf a certain distance from current price.
So basically any OCO or ATM based trade has the potential to blow up your account if you are unlucky. With my suggestion, you can eliminate the risk totally by setting a certain threshold of acceptable risk/loss before the datafeed provider closes all your positions and orders for you once it registers a timeout from your NT client.
Last edited by danielk; May 3rd, 2016 at 09:33 AM.
The following user says Thank You to danielk for this post:
In my case, its a tri-point-connection: Me-DataFeeder-Broker
And they are all independent.
DataFeeder does not know the existence of my broker and vice-versa.
Maybe @NinjaTrader+NinjaBrokerage are working on a solution on this subject, working together, they are/would be "aware of everything"(orders, connections, feed, ..) so, in this case could exist a solution.. like server-running-ATMs.. or other approach..
Last edited by MrTrader; May 3rd, 2016 at 10:56 AM.