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I was in a trade last night when the market closed-- totally my fault for not knowing in advance but thats besides the point. Anyway all of the sudden ninja announced "ordered cancelled'' I didnt know what happened. My stop and targets were gone from chart trader and I had no idea what happened to my position. Looked in TWS and sure enough i was naked 2 contracts of YM. So my atm stop and target were somehow cancelled by ninja when the market closed.
Spent an hour on live chat with IB and finally was able to use TWS to create an OCO that bracketed my position.
Lessons learned-- be aware of market closing times--this was a holiday--normally the market would not close at 11:30 --but NY was closed already for holiday.
Use TWS OCO to protect against possible naked positions. Actually its not a bad way do to an overnight trade.
Question--If my original order from Ninja was an OCO order would it have been cancelled when market closed or would it have stayed on the server??
happy ending--woke in morning to find my target filled
Can you help answer these questions from other members on NexusFi?
By default with IB, NinjaTrader will submit OCO orders that reside on their server. You can check your NinjaTrader logs to see if this was in fact the case with your cancelled orders since you would not see a "Pending Cancel" order state for those cancelled orders.
Thanks. The order cancellations were initiated by IB or, to put it another way. NinjaTrader did not initiate the cancellation. When NinjaTrader initiates a cancel, it logs a state=PendingCancel (that shows up in the log) right before a cancel request is sent to the broker. When we don't see this state, that means that broker initiated the cancel.