Where are my orders

[sandman]

Hello and merry Christmas!!!

I am trying to get a better understanding of what is involved when using NT in a live account. Please refer me to the right section if it is already explained somewhere.

What I see on my computer screen is a chart and a DOM. Let's say I want to go long on the instrument TF. Price is currently at 1149,0. I want go long. I place a market order by clicking on the DOM. And that's where my question comes in: what happens now? Somehow my market order needs to arrive at the CME. What route does it take?

Second scenario with a probably clearer example of my question. Price is currently at 1149,0. I want to go long. Rather than placing a market order I place a LimitOrder at 1148,7 to go long. What happens at the moment I place this Limit Order? I see it is sitting on my DOM in my computer. But has it actually gone somewhere else? To my broker (AMP Futures) or CQG (Datafeed) or even to the CME as an order to be filled? Or does it continue to sit in my computer until my computer receives the signals from my broker/CME that price has reached 1148,7 at which point it now triggers and sends the buy signal from my computer to my broker and on to the CME?

Is there a graphic somewhere that illustrates what happens when?

sandman

[NinjaTrader_Brandon]

Hello sandman,

Thanks for your post.

The market order will go to the exchange.

Limit/ stop limit/ stop market orders, once accepted/working will be at the exchange or reside on your brokers servers depending on the order and your broker.

Click here for information on where orders reside: http://www.ninjatrader.com/support/f...7076#post27076

More information on Order States and their definitions can be found in our Help Guide: http://www.ninjatrader.com/support/h...efinitions.htm

[sandman]

Brandon,

I thanked you already for these references and now have looked them over. Let's see if I understand this correctly (I refer to a live order).

I click on the DOM to enter a Market Order. It shows up "Yellow" and the order is what is called "Initialized".

An electronic signal goes from my PC into a computer of the network of the connectivity provider (CQG in my case).

From there, a signal is send to my broker's computers/servers ((AMP in my case) where it is checked that my account has sufficient margin to enter the order).

Now what. Where does it go from there? I assume back to the CQG servers. And then on to the Exchange. Or does the data feed go from the Exchange into the CQG servers so that my order does not actually go to the Exchange but gets acted on within the CQG servers.

Please clarify. I am trying to fully understand the exact route of the signals.

sandman

[NinjaTrader_Kyle]

Hello,

I would recommend that you contact your broker for a detailed overview of order routing.