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take profit order
hi if i set a take profit order in my algo trading, will it be carried over to next trading session? and if next day the market open above my take profit price, will my trade be executed by the take profit price or the higher market price? thank youTags: None
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Hello light7801,
If the market has not had the opportunity to trade at the price your order is submitted the order will remain active.
I have also provided a link below to our Support Forum that goes over Where Orders Reside.
Note: This information is relevant for NinjaTrader 7 only. For NinjaTrader 8, please click here (https://ninjatrader.com/support/helpGuides/nt8/where_do_your_orders_reside_.htm). CQG Orders in a state "Accepted" or "Working" are at the exchange. If the exchange does not support a specific order type, the
Please let me know if I may be of further assistance.Christopher J.NinjaTrader Customer Service
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Hi light7801,
Can you please provide the following information so I may further assist:- What broker are you connecting to within NinjaTrader?
- What "Time in Force" are you selecting when submitting your order?
- What type of Order is being submitted such as a Limit, Stop Limit or Stop Market?
- Can you give a specific scenario?
Christopher J.NinjaTrader Customer Service
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ok, for example, i am using ninja script to do auto trading with interactive broker. the strategy will automatically place a take profit limit order by percentage once an buying order is executed (let's assume the take profit limit price is set to be $78). however, during that trading session, the price didnt reach the target order. nevertheless, on the next day, the market opens at $90.
will the take profit order be executed immediately? and at which price? thanks.
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If you have set your TIF (Time in Force) to GTC and the market opens at your limit price or better your order would become a Marketable Limit Order at that time.
For example if you are long with a Sell Limit Order at $78.00 and the market opens at $90.00 your order would then become a Marketable Limit Order and attempt to fill. However if the market came back down for some reason without filling it would not fill below your Limit price of $78.00
If you have set your TIF to DAY these orders would be cancelled at the end of the trading day and would no longer be active.
If you are currently using a Live NinjaTrader license key and have access to an IB Paper Trading account you may always test this into the Paper account as well.Last edited by NinjaTrader_ChristopherJ; 03-09-2010, 11:56 AM.Christopher J.NinjaTrader Customer Service
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