SetTrailStop orders held where?

[bluelou]

Are SetTrailStop orders held at the exchange or broker or are they kept on the PC running Ninja?

Also, my understanding is that a SetTrailStop should be set at the most recent equity high. Is this correct?

I'd like to rely on SetTrailStop orders but I've been reluctant to try them because NT crashes on me pretty regularly so I usually manually set my stops with my FX broker.

If the stops are kept on the PC I suppose one solution would be to manually set a disaster stop loss with the broker and hope that NT doesn't crash and executes the trailing stops properly.

[NinjaTrader_Tim]

Hi bluelou,

The price adjustment logic is held locally on your machine, including any triggers for adjustments to the stop price.

As for the order itself, depending on your broker, it will either be held locally or on your machine.

Please see this link for more information on where your order reside, based on your broker - http://www.ninjatrader.com/support/f...ead.php?t=5349

Can you clarify "SetTrailStop should be set at the most recent equity high." The adjustments in price will reflect whatever you code logic dictates it should do.

[bluelou]

Please tell me if I have the logic down correctly in the following example:

1:00am: A new equity high is hit so a new trailing stop is held at the broker and the old trailing stop is cancelled. (Is this correct or incorrect?)

1:15am: NT crashes. Does this mean that the trailing stop set at 1:00am is still held at the broker and is executable? (Correct or incorrect?)

What happens if I reboot NT and the strategy? Will the strategy duplicate the stops already held at the broker and should I manually cancel any duplicated stops?

[NinjaTrader_Austin]

bluelou, which broker are you using? That answer will determine what happens with your orders. If you take a look at the link Tim provided you, it will say where the orders are held. When you answer that question I can let you know the answers to the rest of your questions.

[bluelou]

I'm using Gain for FX.

[NinjaTrader_Austin]

In that case, orders in a "working" or "accepted" state are on GAIN's servers.

1:00am: A new equity high is hit so a new trailing stop is held at the broker and the old trailing stop is cancelled. (Is this correct or incorrect?)

Depending on how you have the trailing stops set up, they would most likely just be amended instead of canceled and replaced.

1:15am: NT crashes. Does this mean that the trailing stop set at 1:00am is still held at the broker and is executable? (Correct or incorrect?)

The trailing stop would be held at the broker and would be executable. However, if the trailing stop is part of an OCO pair (like a stop and target), then the other order (target) would not be canceled.

What happens if I reboot NT and the strategy? Will the strategy duplicate the stops already held at the broker and should I manually cancel any duplicated stops?

If you reboot NT, as soon as it starts back up you should take a look at all the open orders and figure out what to do with them (let the orders work or cancel them). You would most likely want to cancel all open orders, close any positions, and then start the strategy. Again, much of this is dependent on how you have the strategy set up.

[stoploss]

Sorry for this question, probably it's off top, but im wondering if this trailing stop definition good enough for beginners? My friend advised me that. What can you advise to read about trailing stops?

[NinjaTrader_Tim]

Hi stoploss,

That appears to be a very good explanation.

If it's still unclear, our Education Partners can assist - http://www.ninjatrader.com/webnew/pa..._education.htm

Please let me know if you'd like more information related to NinjaTrader and trailing stops.

Auto Trail in ATM Strategy - http://www.ninjatrader-support.com/H...html?AutoTrail

Auto Trail in NinjaScript - http://www.ninjatrader-support.com/H...l?SetTrailStop

[bluelou]

Austin,
You mentioned sending stop + target orders as OCO pairs to the broker. I'm pretty sure that OCO logic for my strategy is all in Ninja on my PC. How do I send a trailing stop + price target OCO pair to the broker such that the broker knows the orders are OCO?

Also, if I understood you correctly, you're saying that when Ninja crashes the OCO order will not be cancelled at the broker. Is this correct? If so, then this is good because this is what I want to happen.

[NinjaTrader_Tim]

Hi bluelou,

The OCO feature is held on your machine when such orders are sent to GAIN. So for this feature to functions properly, you will need to have a strategy running with a connection to GAIN.

In the case of a sudden restart or crash, they will not be cancelled, you will need to followup with your broker to handle the orders "manually".

[bluelou]

What about with IB? Is the OCO feature held on my PC or at IB?

[NinjaTrader_RyanM1]

Hello bluelou,

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.

http://www.ninjatrader.com/support/forum/showthread.php?p=27076

[bluelou]

okay, thanks.