End of day open position change...HELP

[zelli]

I ended the day with an open position short the ES 1192. After the market closed and re-opened my DOM showed me short from 1187. I disconnected from Zenfire and reconnected only to find my position short from 1183. Obviously at the exchange I'm short from 1192, but how can I now trade with Ninja incorrect. My broker didn't have an answer for me, call in the morning for the tech guy?????

Thanks
Z

[NinjaTrader_RyanO]

Hi zelli,

Thank you for your post.

When you hold a position following market close the order is adjusted to when the market opens.

When a product closes for the day and goes to a pre-open state, the broker will carry the position forward at the settlement price (*). When the futures contact closes and moves from a 'closed' to 'pre-open' a few minutes later, the open PnL is booked and set to '0'. The new average price is then set to the price the market is trading at the open. This is technically correct and expected for all futures contracts. This is referred to as 'Marked-to-Market' and is how all futures contracts are handled.
*: In electronic futures, the broker will use the last traded price since the settlement is actually done in the pit and the broker will have no access to that data until the end of the day.

[zelli]

Ryan, Thanks for the reply. OK sure the mark to market makes sense as this will be reflected in my daily statement, open position and open value (credit).
However, are you saying Ninja DOM will not reset and correctly show my open posion at 1192, but only the settlement price as my open position. This can not be, I have used other platforms and held overnight positions without issue. Thanks.

[NinjaTrader_RyanO]

zelli,

In this instance NinjaTrader will reflect the price that your broker shows, and in cases where you are holding positions overnight the orders are marked-to-market, and that is what NinjaTrader will display.

In the case of Zen-Fire, in particular, NinjaTrader will show the marked-to-market order since your open position was technically closed, and then re-opened at the price when the market re-opened.