What went wrong with this order

[solotrade]

On 27 July 2010, I long 1 ES contract at 1109.50, put stop-loss at 1107.25 and target at 1111.25. I was stopped out at 1107.25 ( 2.25 points ), but my target was later executed at 1111.50 ( another loss of 0.25 point ). The total loss of 2.50 points ( $125.00 ) and I was charged $9.60 ( 2 contracts ).

It seems like my target price ( 1111.25 ) turned into another short order, and amazingly being stopped out just 0.25 point away ( 1111.50 ). I was charged another contract on this.

I used the default setting: TIF = "Day" . I did not enable OCO Order at the SuperDOM.
I used preset ATM strategy of 4 points each for both Stop-loss and Profit Target, but I quickly dragged and clicked each of them to my calculated Stop-loss and Profit Target right on the SuperDOM once the market order was filled.

I did turn off the trading platform after entering the trade, therefore did not see the moment the trade being stopped out. I used to do so without problem.

I did post this issue at http://www.elitetrader.com/vb/showth...hreadid=204347 and have some opinions from ET members, but still not sure the actual cause.

I don't know what went wrong with this order that triggered 2 orders.

[NinjaTrader_Kyle]

Hello solotrade,

Thanks for your post.

This is likely a consequence of shutting NinjaTrader down after entering the position.

Can you tell me which broker / data provider you're using?

[solotrade]

My broker is AMP Future via Dorman Trading. I use ZenFire.

I used to do so without such problem.

[NinjaTrader_Kyle]

Hi solotrade,

In the case of Zen-Fire based connections:
OCO (One Cancels Other) functionality is simulated on your local PC.

The result of this is, if you disconnect with a stop and target in place, when one of those orders fills, the other will not be canceled.

To avoid this in the future, do not disconnect while ATM managed positions are open.

For more information about where orders reside: http://www.ninjatrader.com/support/f...ead.php?t=5349

[solotrade]

Do you mean the default setting at ZenFire will have the OCO simulated at my local PC eventhough the OCO option on the SuperDOM is not enabled?

I used to turn off the platform which similar order, turned it on again and I still could see my Stop-loss and Profit Target remained on the SuperDOM, if the trade was not closed out.

Why in this case, my Target seems to turn into another short order and being stopped out just 0.25 away at another loss. Who set this exit point for me?

[NinjaTrader_Kyle]

Hi solotrade,

The ATM strategy itself is using OCO as well. This is how the stop is canceled when a profit target is filled (and vice-versa).

So, in your case, the stop is filled. NinjaTrader is disconnected, so there's no way to translate the cancellation request for the target. The target eventually fills, resulting in a new position on the opposite side of the market.

[solotrade]

Still not so clear. Actually I disconnected NinjaTrader before the Stop or Target was filled. Do you mean one of them will be filled but the other will remain open because there is no more cancellation request?

Do you mean in this case, the Target eventually fills in the opposite direction, and will only be closed out at the end of the day-trading period, and automatically it creates a new order / contract?

I have a few open-orders in which I disconnected the platform for the rest of the day-trading period before the Stop or Target was hit. In the next day, I had the transaction statement which showed the order either being stopped out or hit the target and not second contract being created in the opposite direction. Everything looks perfect.

This is the first that an opposite order being created because I turn off the platform before a trade is closed ( either hit the Target or Stop-loss ).

Something strange here.

[NinjaTrader_Kyle]

Hi solotrade,

Please send a note to Support [AT] NinjaTrader [DOT] com with 'ATTN: Kyle' in the subject line.

In the message, include a link to this forum thread and your phone number and I will follow up with you.