Where do my order reside....does anyone know ?

[franky]

Hi,

I have made a couple of attempts to get a definitive answer for this, both from Ninjatrader 'submitting a couple of support requests' and with my broker IB, but without much luck. With the problem been both sides give contradictory answers.

So, maybe, this route can finally sort this one out for me. My latest attempt was last night, involved 4 emails, and still I'm in no better a position. Have to admit up front, I'm not very knowledgeable in types of orders etc....I do it very simply, but, it works for me.

With Ninjatrader, I trade utilising Charttrader, with a simple ATM strategy, a stop loss and a profit target. Now my question was/is where does my stop (and profit target) reside, is it with IB or with Ninjatrader. Thats it....or so I thought.

Can anyone please help, as IB are saying, Bracket orders are with Ninajatrader and OCO's are with them.

Ninjatrader quotes me the following from there website 'Interactive Brokers
Orders in a state "Accepted" or "Working" are at the exchange or on IB's servers in situations where the exchange does not have native support for an order type.
OCO (One Cancels Other) functionality is natively supported on their servers'. I have asked but 'what are my orders called', but, can't seem to get a concise answer from Ninjatrader.

Pretty frustrated at this stage......can anyone please help here.

Thanks

[NinjaTrader_Kyle]

Hello Franky,

Thank you for your post.

Please allow me to clarify:

Orders in a state "Accepted" or "Working" are at the exchange or on IB's servers in situations where the exchange does not have native support for an order type.

Once your order has been received by Interactive Brokers, it rests at the exchange. If the exchange does not allow the order to reside there, it would then reside on IB's servers.


OCO (One Cancels Other) functionality is natively supported on their servers.


Cancellation of orders for OCO pairs (such as ATM strategies) reside on IB's servers once the orders have been accepted.


In answer to your original question: Bracket orders reside at the exchange or on IB's servers once they have been accepted.

Please let me know if any of the above is not clear to you.

[franky]

Thank you for the very quick response. But, can you please clarify.....that as a trade through Chart trader with a market order and an ATM strategy (simple stop and profit target) that the stop element is indeed an OCO order......so does indeed reside with IB ?

Thank you.

[NinjaTrader_Kyle]

Hi Franky,

Thank you for your reply.

Yes, that is correct.