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hi guys, i'm switching to the Ninjatrader SuperDOM and Interactive Brokers because of the recent order conformation "upgrade" with TWS Booktrader. i have been playing with the NT SuperDOM and TWS demo Account. if i place an order with an ATM strategy attached to it, it does not display or transmit the accompanying bracket orders until the primary order is filled. this puts a naked order on the exchange, if my internet or computer cut out before the order is filled, it remains on the exchange but the bracket will not be there. i will have no protection if i can't get my computer back up and running. in TWS booktrader, the bracket order is sent to IB and they are responsible for sending it once my order is filled. is there any way to set Ninjatrader up to do this?
NT DOM is odd and awkward, specially with the stupid mouse middle button for limit orders - it can be costly, if you forget and place a stop order with the left button instead. You can do bracket orders with an ATM attached as follows:
1. Right click on the DOM area and check the OCO on the drop-down menu = make sure the green OC is lit
2. Select your ATM
3. Place the first side of the bracket order
4. Select the same ATM again
5. Now, place the other side of the bracket.
You are done. As one side is filled the other is canceled and ATM is in place.
The bottom line is: you must have OCO activated first and set the ATM individually for each side of the bracket. NT calls this procedure breakup - breakdown.
Hope this helps. g8r
p.s. I wish someone would write a script to do all of these automatically.
wow, thats the only way? i really expected better form ninjatrader. is there no option to actually have the stop order automatically placed on the exchange along with the entry order? i just seems dumb to wait for a fill to add a stop below it.
Unless I misunderstand your question. If you want a stop and target placed in the market before your primary order gets filled, that's double the exposure in the event of a disconnect.
sorry, you're right. all i'm really worried about is having a stop in place with the original order.
Booktrader sends the whole bracket to IB and they submit it when the first order is filled. my point is just that the bracket is on IB servers, and not my computer. if i place my order in TWS and my computer crashes, my order is still fine. if i place an order in Ninjatrader and the computer crashes, my order is just on the exchange with no target and no stop.
If you can't/won't accept the risk, maybe you should look for another profession.
All you can hope to do is take reasonable precautions to prepare for outages.
i.e. redundant systems, phones, internet connections, computers, and know how to hedge your trade, etc.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
