Broker/Data: Mirus Futures/Continuum, Inifinity Futures, TOS
Favorite Futures: TF
Posts: 204 since Jun 2011
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One potential problem with exit orders stored on broker's servers is that your exit positions are exposed. It was a serious issue with many MT4 brokers for spot forex as they can hunt your stops.. Not sure about futures brokers like Transact, Velocity futures, etc..
fourtiwinks: i put my trailing stops on the tws server without noticing any irregularities. my concern is a trailing stop that does not execute because of outages. i travel often. when i put a trailing stop into the tws system it will get executed when i am in the aircraft or on the ferry. what happens to my exit trades in nt when i am on travel? the best feature would be a choice in nt. boolean.. your exit trades will be residing at the server of your broker..true/false
it cannot cost that much for nt to program a server sided multi trailing stop. i am sure i am not the only one who needs this feature. there was another thread on this board dealing with exactly that. meanwhile brokers offer a paid service for server sided exits. it should be a standard feature in nt
Last edited by fred1; June 2nd, 2012 at 11:41 AM.
The following user says Thank You to fred1 for this post:
Trailing stop, OCO, auto-breakeven, etc. are functions that are usually stored locally. This depends on your broker. If you look on that list you will see that IB, who you currently use, supports native OCO, thus if you use IB through NT you will also have these same order types.
NT can only implement what the broker allows. If they allow OCO functionality, as IB does, they support it. If they do not, then they can do nothing about it except simulate it locally.
The following 2 users say Thank You to josh for this post:
josh: i had the live multibroker ninjatrader and i traded ib and others. at ib my exit orders did not show up. instead tws gave the message: your exit orders will be executed by your external software (something like that).
whose server holds the stop?
it is enogh for me if ib servers hold the stop when i send it from the nt. again: the same stop that the tws holds now, an adjusted stop (two phased)
a trailing stop sitting back 30 points and transforms into a two point stop when a certain threshold is reached
It is possible to connect NinjaTrader to TWS and have both your exit orders held on Interactive Broker's servers.
-> select an ATM strategy with a profit target and a trailing stop
-> activate OCO orders on the Ninjatrader DOM
-> enter your order
Both your profit target (limit order) and your trailing stop (stop order) are now managed by Interactive Brokers and not by NinjaTrader. In case one of them is hit, the other one will be automatically cancelled.
The following 2 users say Thank You to Fat Tails for this post:
Just enter the trailing stop into the ATM section of the DOM. You need to define a custom stop strategy.
I think that the trailing of the stop is managed by NinjaTrader. I am not 100% sure of this. The OCO functionality is managed by Interactive Brokers. If I am right, you still have profit target and protection in place during a power outage, but the stop will not be trailed, when NinjaTrader is disconnected from TWS.
anyway thanks again. i will contact ninjatrader support to find out.
i need both: the stop and the profit taking activities also. at the moment i have both functionalites using tws.
nt needs to offer at least the same functionality to make me use it again live.
travels from canada to asia takes a day and many things happen in a day on the markets. sometimes just one contract means a thousand dollars or more in a day. except for the last days which were exceptional you could only profit if you acted immediately on huge downswings. my stop would sit there and after one day all profits would have gone..