NT7 error caused trailing stops to stop modifying and liquidated all strategies

[bluelou]

I had an NT7 error this morning where NT7 was unable to modify trailing stops in 2 automated strategies and then liquidated all positions in both strategies.

The 1st error read "Unable to modify order...GAIN Error[0] New order activity suspended"
This exact error occurred with 2 separate strategies less than 2 minutes apart.

Please see the attached Log output. I'd like to know what happened and why and what can be done to make sure it doesn't happen again.

-Lou

[NinjaTrader_RyanM1]

Hello Lou,

It looks like the message is coming from Gain. I suggest contacting Gain to see what it's about.

Gain Error: New Order Activity Suspended

[bluelou]

I figured I'd hear that. I asked Gain and they said they're not responsible for what happens with NinjaTrader and that there's no problems or unusual activity w/my account and to contact you guys. So, what do I do with that?

[NinjaTrader_Ray]

That message comes from GAIN and is issued when they suspend trading activity. This is usually done around major news events. The behaviour you experienced is expected when that message comes up.

[bluelou]

That message comes from GAIN and is issued when they suspend trading activity. This is usually done around major news events. The behaviour you experienced is expected when that message comes up.

Ray,
Walk me through the chain of events. Did NT7 liquidate my positions and shut down my strategies in response to the GAIN error message?

[NinjaTrader_JoshP]

bluelou,

Default behavior when an order is rejected is to stop the strategy. In stopping the strategy that includes closing position and cancelling any remaining open orders. This is done because NT has no way of knowing how to proceed from the order rejection.

If this fail safe behavior is not what you want and would prefer to be left in the market you can do so by programming your strategy to use RealtimeErrorHandling set to TakeNoAction. http://www.ninjatrader.com/support/h...orhandling.htm

Please note should you go down this route you should really be certain that your code can handle all error scenarios that may arise as NT will not provide any protection.

[bluelou]

bluelou,

Default behavior when an order is rejected is to stop the strategy. In stopping the strategy that includes closing position and cancelling any remaining open orders. This is done because NT has no way of knowing how to proceed from the order rejection.

If this fail safe behavior is not what you want and would prefer to be left in the market you can do so by programming your strategy to use RealtimeErrorHandling set to TakeNoAction. http://www.ninjatrader.com/support/h...orhandling.htm

Please note should you go down this route you should really be certain that your code can handle all error scenarios that may arise as NT will not provide any protection.

Josh,
I think NT7 did exactly the right thing by cancelling the open orders associated with the strategy in response to an error by the broker. I've since learned that Gain had a technical problem where they were unable to modify any customer orders at one point this morning.

I'm haggling with Gain for a credit since they caused they error and have admitted so. I'll let you know how it works out.

-Lou

[NinjaTrader_RyanM1]

Thanks for the update on this, lou.

[bluelou]

BTW, Gain declined to issue a credit and told me that how my system responds to their errors isn't their problem. The account rep said "I'm sorry that I can't justify what we've done". Stand up guys over there.