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Zenfire Brokerage
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Zenfire Brokerage

  #1 (permalink)
Elite Member
Toronto, CA
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: IB
Favorite Futures: YM, ES
 
record100's Avatar
 
Posts: 105 since Jun 2009
Thanks: 34 given, 42 received

Zenfire Brokerage

Hi, I've noticed following note on NT site
<<
Important: OCO (one cancels other) orders for Zen-Fire are locally simulated on your PC. This means that NinjaTrader must be connected to your broker in order for the OCO capability to function. If you are disconnected and one of the OCO orders are filled, the other WILL NOT be cancelled.
>>

Could anybody clarify this, what about stop and target orders, are they locally simulated as well?

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  #2 (permalink)
Elite Member
Frankfurt
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: FGBL 6E B4
 
max-td's Avatar
 
Posts: 1,754 since Jun 2009
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hi record, thats right,
Stops + Targets are real hard-orders live out at the exchange.

OCO is an action that NT regulats
also the Trailstops+ ATM-stuff is based local in your PC + need connection to work.

iE if an ATM is sended out it has a Stop + a Target right at the beginning.
they are hard at the exchange but
any other actions are driven by NT + need connection to work!
so if connection gets lost you have to orders out on the exchange - the Stop + the Target.
you need to do an emergencycall to zenfire + cancel the stuff.
thats how it works.
its NOT a serverbased solution with NT + zenfire.

max-td
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  #3 (permalink)
Elite Member
Toronto, CA
 
Futures Experience: Intermediate
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record100's Avatar
 
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Thanks Max,

so, when target is hit it is required to call them to cnacel stop order?

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  #4 (permalink)
Elite Member
Frankfurt
 
Futures Experience: Intermediate
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max-td's Avatar
 
Posts: 1,754 since Jun 2009
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yep,
or visa-versa ....
cause the second it stays active

max-td
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  #5 (permalink)
Elite Member
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record100's Avatar
 
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thanks
on positive things this behavior keep you responsible for controlling of own automated trades.
on negative side, you need to be around monitors to do that.
I believe in IB OCO will work for you, and you could have some peace of mind when you are away.
May be this issue will be addressed in NT 7.0, they mentioning that after reconnection system will try restore strategy state, if I remember correctly

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  #6 (permalink)
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Australia
 
Futures Experience: Intermediate
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TraderJ's Avatar
 
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As long as NT is connected, it will cancel the other order.

Manual call is only needed if NT has lost connection before one of the orders are filled.

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  #7 (permalink)
Trading Apprentice
Berlin, Germany
 
Futures Experience: Intermediate
Platform: MultiCharts, NinjaTrader
Broker/Data: IB
Favorite Futures: FGBL
 
Posts: 33 since Sep 2009
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Has now zenfire FX spots (with history?)

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  #8 (permalink)
Just starting out...
Mapleton, Utah
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: Mirus Futures/Zen-Fire
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Posts: 10 since Jan 2010
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Make safety net is in place with Zen-Fire

Because OCO orders are not sent to the broker on Zen-Fire it's extremely important to have a good internet connection (even a backup connection is a good idea) and a computer without tons of garbage on it. Additionally, a battery backup for your computer is a must in case power goes out.

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  #9 (permalink)
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Arcata, CA
 
Futures Experience: Intermediate
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envisionman View Post
Because OCO orders are not sent to the broker on Zen-Fire it's extremely important to have a good internet connection (even a backup connection is a good idea) and a computer without tons of garbage on it. Additionally, a battery backup for your computer is a must in case power goes out.

you need to have your "modem" on battery backup too so you have a connection.

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