Will my ATM still work on exit?

[Synergy]

Hi,

I was just wondering - If I trade Daily charts (Forex for example) and I decide to switch off my PC after being entered into a trade by my ATM, will those orders (Stops and Targets) still be active with my broker (Using MB Trading)?

Or to put it in other words, do I need to be connected 24/7 while Im in a trade if trading on Daily charts?

Hope that makes any sense?


Thanks!!!

[NinjaTrader_Kyle]

Hello,

Thank you for your post.

We recommend that you never leave an open position unattended. If anything out of the ordinary occurs, you need to be available to take immediate action on the account.


Whether orders exist on broker servers or on your local PC depends on their state. State is shown in the State column within the Orders tab of the Control Center.

Orders in a state "Accepted" or "Working" are at the exchange or on MBT's servers in situations where the exchange does not have native support for an order type.
OCO (One Cancels Other) functionality is simulated on your local PC.

[Synergy]

Hi Kyle,

Thanks for the explanation!

Just want to make sure I understand this right:

"We recommend that you never leave an open position unattended. If anything out of the ordinary occurs, you need to be available to take immediate action on the account."

What about trading higher time frames like Daily charts? You could have a position open easily for 1-4 days at a time, but it is not always possible to be in front of the screen 24/7.

For example: Im now in a trade (Testing on a Demo account, just entering a trade for testing...) where I entered using an ATM strategy with an attached Stop and Target of 50 pip for Target, and 67 pips for the Stop (On a Daily chart) See attachment.

So, as far as I can tell, the order has been filled and the Stop and Target indicates "Accepted" and "Working".

So what I will do in this example, is to watch this trade on 4H and make any adjustments as required, but at the end of my session, I will have to leave this trade to run with the Stop and Target in place to either get me out of the trade should it go against me, or take profit...

So what I would like to know then, is if my Stop and Target will still be in effect if I shut down my PC?

If not, what would be a better way of entering a trade so that my Stop and Target would still be in effect with my broker once I shut down my PC?

I realize the danger in leaving a position open like this, but because Im trading higher time frames, Im risking much less per pip than someone trading a 3min chart, for example. ( Leaving more room for movement basically ).

Then another thing I was wondering - Say I do have a trade going into profit and I want to add a trailing stop to it while Im away? Could I do that?

I guess for something like this I will need to have ninjatrader running and connected to my broker, right?

Thanks again for the help!

Hope my question makes sense?!

[NinjaTrader_Kyle]

Hello,

1.) "What about trading higher time frames like Daily charts? You could have a position open easily for 1-4 days at a time, but it is not always possible to be in front of the screen 24/7."

Leaving open positions unattended is not something we would ever recommend you do for the reason I mentioned before. You are, of course, free to use the software as you wish.

2.) " So what I would like to know then, is if my Stop and Target will still be in effect if I shut down my PC?"

This depends on the state of the orders at the time you shut down.

3.) " Then another thing I was wondering - Say I do have a trade going into profit and I want to add a trailing stop to it while Im away? Could I do that?"

All aspects of an ATM Strategy including auto-trail settings must be setup before the entry order is submitted, It is not possible to apply an auto-trailing stop to an open position.


4.) " I guess for something like this I will need to have ninjatrader running and connected to my broker, right?"

Since order modifications from the auto-trailing stop strategy are something NinjaTrader is sending to the broker the software would need to remain running and connected.

[Synergy]

Hello,

1.) "What about trading higher time frames like Daily charts? You could have a position open easily for 1-4 days at a time, but it is not always possible to be in front of the screen 24/7."

Leaving open positions unattended is not something we would ever recommend you do for the reason I mentioned before. You are, of course, free to use the software as you wish.

Noted.

2.) " So what I would like to know then, is if my Stop and Target will still be in effect if I shut down my PC?"

I have shut down Ninjatrader to test and it seems like my trade is still in effect with the stop and target as I left it. I guess, as you mentioned, if the stop and profit are with you broker (working/accepted) AFTER the order has been filled, then this should be fine, else wait for it to get filled before switching off...

This depends on the state of the orders at the time you shut down.
So as in the attachment I sent - these orders are with the broker and not on my PC, right? So it should be fine to switch off as explained earlier?

3.) " Then another thing I was wondering - Say I do have a trade going into profit and I want to add a trailing stop to it while Im away? Could I do that?"

All aspects of an ATM Strategy including auto-trail settings must be setup before the entry order is submitted, It is not possible to apply an auto-trailing stop to an open position.

Noted.

4.) " I guess for something like this I will need to have ninjatrader running and connected to my broker, right?"

Since order modifications from the auto-trailing stop strategy are something NinjaTrader is sending to the broker the software would need to remain running and connected.

Noted. Thanks!